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Buenaventura's Q2 gold output underperforms

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Buenaventura's Q2 gold output underperforms

Compañía deMinas Buenaventura SAA saw second-quarter gold production slip18.3% year over year, but witnessed improved silver, zinc and copperproduction, it said July 11.

Gold output fell to 275,467 ounces during the quarter, from337,238 ounces a yearearlier.

Silver production amounted to 5.7 million ounces, increasingfrom 4.3 million ounces in the same quarter of 2015.

Zinc output climbed year over year to 18,247 tonnes, from15,017 tonnes, and copper rose to 11,677 tonnes from 9,580 tonnes, excludingany contribution from the Cerro Verde mine, in which Buenaventura holds a 19.58%stake.

Meanwhile, the company forecasts it will produce roughly 1.1million ounces to 1.2 million ounces of gold, 22.5 million ounces to 24.8million ounces of silver, 77,000 tonnes to 88,800 tonnes of zinc and 535,000tonnes to 595,000 tonnes of copper this year.

Cerro Verde is expected to contribute the majority ofBuenaventura's estimated copper output at 500,000 tonnes to 550,000 tonnes.