Compania de Minas Buenaventura SAA ( (BVN) ) has released its Q2 earnings. Here is a breakdown of the information Compania de Minas Buenaventura SAA presented to its investors.
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Compañía de Minas Buenaventura S.A.A. is Peru’s largest publicly traded precious metals mining company, engaged in the exploration, mining, development, processing, and trade of gold, silver, and other base metals through its wholly-owned mines and joint ventures in Peru. The company also holds significant mining rights in the region, making it a key player in the mining industry.
In its latest earnings report for the second quarter and the first half of 2025, Buenaventura reported robust financial performance with a notable increase in EBITDA from direct operations, reaching $130.1 million for the second quarter, up from $107.2 million in the same period last year. The company’s net income also saw a significant rise, reaching $98.2 million in the second quarter, compared to $74.4 million in the previous year. The company’s cash position was strong at $588.5 million, with a net debt of $271.7 million.
Key highlights from the report include a 28% year-over-year increase in copper production, primarily due to resumed operations at El Brocal. However, silver production decreased by 11%, and gold production fell by 19% due to lower outputs from Orcopampa and Tambomayo. Buenaventura also made strategic moves by commercializing a portion of Cerro Verde’s copper concentrate, selling approximately 20k WMT by the end of the quarter.
The company continued its investment in the San Gabriel Project, with capital expenditures of $82.2 million in the second quarter, focusing on the processing plant and mine development. Buenaventura also redeemed the remaining $149 million of its 2026 notes, demonstrating its commitment to managing its financial obligations effectively.
Looking ahead, Buenaventura remains focused on its strategic projects, including the San Gabriel Project, with plans to initiate commercial production in the fourth quarter of 2025. The company’s management maintains a positive outlook, emphasizing continued operational efficiency and strategic growth in the coming quarters.