Accumulated net sales in the first six-month period 2012 were US$690.7 million, in-line with the figure reported in the same period in 2011 (US$690.8 million), while royalty income was US$36.8 million, a 30% increase when compared to the US$28.2 million reported in 2011.
Production and Operating Costs
Buenaventura’s equity production 1 in 2Q12 was 107,168 ounces of gold, 11% lower than the 120,641 ounces reported in 2Q11 mainly due to a decrease in Orcopampa and Poracota production. Silver production in 2Q12 was 4.5 million ounces, a 32% increase when compared to the figure reported in 2Q11 (3.4 million oz).
Equity production 1 in the first six-month period 2012 was 225,022 ounces of gold and 8.5 million ounces of silver. This represented a 5% decrease in gold production (237,259 ounces in 2011), and 13% higher silver production compared to 2011 (7.5 million ounces).
|Equity Production 1|
|Gold (oz) inc. Yanacocha||277,394||269,778||3%||555,191||512,202||8%|
|Lead ( MT)||6,910||4,617||50%||11,625||7,757||50%|
|Zinc ( MT)||11,842||6,164||92%||19,245||8,772||119%|
|Copper (MT) inc. Cerro Verde||13,629||17,134||-20%||29,044||35,985||-19%|
|1.||A 18% decrease in gold ounces produced|
|2.||A 12% increase in reagents, basically explained by an increase in cyanide and sulfuric acid prices|
|3.||Contractor costs increased 32% due to an increase in waste moved from areas with narrow veins|