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Buenaventura suspends FY'20 guidance; ops still on care and maintenance

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Buenaventura suspends FY'20 guidance; ops still on care and maintenance

Cia. de Minas Buenaventura SAA said March 30 that it is suspending its guidance for full-year 2020 due to the coronavirus outbreak, noting that it is impossible to estimate the impact of the pandemic on its results.

The company's production at its direct operations, meanwhile, remains on care and maintenance as the Peruvian government extended the current state of emergency by an additional 13 days until April 12 in a bid to curb the spread of the virus.

Meanwhile, the company said that it continues processing ore on the leach pads at its Coimolache and La Zanja gold-silver mines.

However, mining works will be limited to critical activities that ensure functionality of mine pumping systems, water treatment plants, energy supply, hydroelectric substations, health services, as well as to those that ensure essential plant maintenance, managerial oversight, security and safety conditions including backfill and general support.

The company also said that it is in the final stage of refinancing its existing syndicated loan in order to extend the current maturities and improve other loan-related financial conditions.

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