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 third quarter 2012. All figures have been prepared in accordance with IFRS 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 third quarter was US$185.6 million, 11% lower than the figure reported in 3Q11 (US$208.7 million). EBITDA from Buenaventura’s Direct Operations was US$158.5 million, 37% lower than the figure reported in 3Q11 (US$252.3 million), while EBITDA including Affiliates decreased 14%, from US$446.5 million in 3Q11 to US$384.4 million in 3Q12.These results were mainly explained by lower gold volume sold from Buenaventura’s direct operations, as well as lower silver and base metal prices. Higher costs also impacted results due to an increase in contractor expenses as well as higher supply costs.
Financial Highlights (in millions of US$, except EPS figures):
(BVN Direct Operations)
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