Compañia de Minas Buenaventura S.A.A. (“Buenaventura” or “the Company”) (NYSE: BVN; Lima Stock Exchange: BUE.LM), Peru’s largest, publicly-traded precious metals mining company, announced today results for the fourth quarter 2011. All figures have been prepared in accordance with Peruvian GAAP and are stated in U.S. dollars (US$).
Comments from the Chief Executive Officer:
Mr. Roque Benavides, Buenaventura’s Chief Executive Officer, stated:
“Net income in the fourth quarter reached US$230.9 million, which was similar to the figure reported in 4Q10 (US$228.1 million). EBITDA from Buenaventura’s Direct Operations was US$198.3 million, 15% lower than the figure reported in 4Q10 (US$232.8 million), while EBITDA including Yanacocha and Cerro Verde decreased 9%, from US$457.0 million in 4Q10 to US$415.6 million in 4Q11.The lower gold, zinc and copper volume sold were offset by the increase in silver volume sold, as well as higher precious metal prices.”
Financial Highlights (in millions of US$, except EPS figures):
EBITDA (BVN Direct Operations)†
EBITDA (inc. Yanacocha and Cerro Verde)†
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