Buenaventura Announces Third Quarter 2012 Results
Production and Operating Costs
Buenaventura’s equity production 1 in 3Q12 was 112,750 ounces of gold, 5% higher than the 107,157 ounces reported in 3Q11 mainly due to an increase in Orcopampa and Tantahuatay production. Silver production in 3Q12 was 4.7 million ounces, a 12% increase when compared to the figure reported in 3Q11 (4.2 million oz).
Equity production 1 in the first nine-month period 2012 was 337,761 ounces of gold and 13.2 million ounces of silver. This represented a 2% decrease in gold production (344,751 ounces in 2011), and a 17% increase in silver production compared to 2011 (11.2 million ounces).
| Equity Production 1 | ||||||||||||
| 3Q12 | 3Q11 | Var% | 9M12 | 9M11 | Var% | |||||||
| Gold (oz) Direct Operations | 112,750 | 107,157 | 5% | 337,761 | 344,751 | -2% | ||||||
| Gold (oz) inc. Yanacocha | 267,144 | 256,887 | 4% | 822,327 | 769,089 | 7% | ||||||
| Silver (oz) | 4,678,811 | 4,189,062 | 12% | 13,203,863 | 11,244,038 | 17% | ||||||
| Lead ( MT) | 7,942 | 5,698 | 39% | 19,450 | 13,819 | 41% | ||||||
| Zinc ( MT) | 13,073 | 9,971 | 31% | 32,328 | 19,474 | 66% | ||||||
| Copper (MT) inc. Cerro Verde | 15,648 | 16,297 | -4% | 44,683 | 52,779 | -15% | ||||||
1 Production includes 100% of Buenaventura’s operating units, 100% of CEDIMIN, 53.06% of La Zanja, 40.04% of Tantahuatay and 53.76% of El Brocal.
Orcopampa’s (100% owned by Buenaventura) total gold production in 3Q12 was 70,588 ounces, 17% higher than the 60,171 ounces reported in 3Q11. Production from the Chipmo mine in 3Q12 was 65,362 ounces, 25% higher compared to the 52,265 ounces reported in 3Q11 due to a 16% increase in tonnage treated and 6% higher ore grade (See Appendix 2). The old tailings treatment produced 5,226 gold ounces (compared to 7,906 ounces in 3Q11). Accumulated total gold production in the first nine-month period 2012 was 200,599 ounces, a 6% decrease when compared to 2011 (213,906 ounces). Cash operating cost in 3Q12 was US$537/oz, 3% lower when compared to 3Q11 (US$554/oz). This was mainly explained by the 16% increase in gold ounces recovered due to higher tonnage treated and better ore grades.Select the service that is right for you!
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