New results released Peruvian miner Compañia de Minas Buenaventura has reported decreased gold production, but higher silver production for the fourth quarter of 2023.
“Buenaventura’s 4Q23 equity gold production was 52,231 ounces, compared to 53,079 ounces produced in 4Q22, primarily due to decreased production at La Zanja. 4Q23 silver production was 3,934,706 ounces, compared to 1,678,051 ounces produced in 4Q22, mainly driven by Uchucchacua and Yumpag production initiation,” the miner said in a statement.
Buenaventura also said that its “4Q23 lead and zinc production increased by 52% and 110%, respectively, due to increased production at El Brocal and Uchucchacua, and was partially offset by decreased production at Tambomayo. The Company’s 4Q23 equity copper production was 28,749 MT, compared to 31,479 MT produced in 4Q22, primarily due to decreased production at Cerro Verde.”
Peru’s largest publicly-traded precious metals mining business, Buenaventura is listed on the Lima Stock Exchange.