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Buenaventura Announces Third Quarter 2012 Results

Within this release, Buenaventura presents financial measures in accordance with IFRS, as well as on a non-GAAP basis.

Operating Revenue

During 3Q12, net sales were US$394.0 million, 6% lower than the US$418.1 million reported in 3Q11. This was explained by lower metal prices and gold volume sold.

Royalty income increased 4% from US$17.1 million reported in 3Q11 to US$17.9 million in 3Q12 due to higher revenues at Yanacocha.


Operating Highlights

  3Q12   3Q11   Var %   9M12   9M11   Var %

Net Sales (in millions of US$)

  394.0   418.1   -6%   1,084.7   1,108.9   -2%

Average Realized Gold Price Gold (US$/oz)*

  1,671   1,695   -1%   1,672   1,543   8%

Average Realized Gold Price (US$/oz) inc. Associates

  1,656   1,677   -1%   1,653   1,542   7%

Average Realized Silver Price (US$/oz)*

  29.68   38.99   -24%   29.93   37.33   -20%

Average Realized Lead Price (US$/MT)*

  2,030   2,378   -15%   1,973   2,441   -19%

Average Realized Zinc Price (US$/MT)*

  1,868   2,235   -16%   1,909   2,276   -16%

Average Realized Copper Price (US$/MT)*

  7,989   9,066   -12%   8,119   9,244   -12%

(*) Buenaventura’s Direct Operations

Sales Content
    3Q12   3Q11   Var %   9M12   9M11   Var %

Gold (in oz)*

  113,563   134,863   -16%   347,400   381,469   -9%

Gold (in oz) inc. Associates

  287,284   283,091   1%   631,544   765,476   -17%

Silver (in oz)*

  4,392,833   4,069,550   8%   11,882,677   10,427,079   14%

Lead (in MT)*

  8,391   8,217   2%   19,996   15,511   29%

Zinc (in MT)*

  15,613   12,114   29%   37,987   28,243   35%

Copper (in MT)*

  3,886   4,383   -11%   10,394   15,061   -31%

(*) Buenaventura Direct Operations


Accumulated net sales in the first nine-month period 2012 were US$1,084.7 million, 2% lower than the figure reported in the same period 2011 (US$1,108.9 million), while royalty income was US$54.6 million, a 20% increase when compared to the US$45.4 million reported in 2011.

Stock quotes in this article: BVN 

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