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New production from Tambomayo mine boosts Buenaventura's Q3 gold, silver output

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New production from Tambomayo mine boosts Buenaventura's Q3 gold, silver output

Peruvian producer Cia. de Minas Buenaventura SAA witnessed a decent jump in gold and silver output in the third quarter but saw zinc and copper production dip compared to a year earlier.

Gold production, according to the Oct. 12 preliminary results, climbed 44.1% to 399,997 ounces, while silver output was up 16.1% at around 6.7 million ounces compared to the same quarter of 2016.

Buenaventura reached commercial production at its Tambomayo gold-silver project at the start of September, with the mine forecast to produce 60,000 ounces to 90,000 ounces of gold and 1.6 million to 1.9 million ounces of silver in 2017.

Third-quarter zinc and copper production, meanwhile, slid 4.4% to 17,713 tonnes and 6.2% to 11,531 tonnes, respectively.

Full-year gold production for the other operations is expected to be 190,000 ounces to 200,000 ounces for Orcopampa, 115,000 ounces to 125,000 ounces for La Zanja, 145,000 ounces to 155,000 ounces for Tantahuatay and 530,000 ounces to 560,000 ounces for Yanacocha.

The full-year forecast for silver production is expected to be 17.0 million ounces to 18.0 million ounces for Uchucchacua, 1.0 million ounces to 1.3 million ounces for Mallay, 2.6 million ounces to 2.8 million ounces for Julcani and 3.5 million ounces to 4.5 million ounces for El Brocal.