Compaņia de Minas Beunaventura

Compaņia de Minas Beunaventura is the largest Peruvian mining company engaged in the processing of gold, silver, and other precious metals. Gold accounts for approximately 50 percent of the total sales. The net income of the company totalled $153.3 million in 2008. The shares of Compaņia de Minas Beunaventura are listed under the symbol BVN at the New York Stock Exchange and under BUEv.LM the Lima Stock Exchange. The company is a mid-tier gold producer.

Established in 1953, the company was listed on the Lima Stock Exchange in 1971. Compania de Minas Buenaventura undertook several mergers during the years. In 1979, the Peruvian mining giant incorporated the zinc, silver, and lead extracting company Sociedad Minera el Brocal. Four years later, Minas Buenaventura acquired the electrical transmission company Consorcio Energético de Huancavelica. In 1996, Minas Buenaventura acquired 17 percent in Minera Cerro Verde from the largest USA mining company Cyprus-Amax.

The Uchucchacua mining site of Minas Buenaventura delivers silver, zinc, and lead. The yearly output of silver is close to 9.9 million ounces. In 2008, the company commenced the exploration of two additional sites: Pozo Rico and Mallay. The Pozo Rico holds silver deposit containing manganese, lead, and zinc. The Mallay site is explored at present. The exploration activities in the Esperanza area of the Recuperada region aim to discover new reserves. The Shila-Paula exploration project focuses on sites which surround some operating units such as Ampato, Paula Brownfield, and Puncuhuayco-Ticlla, among others. At the Hallazgo area, Minas Beunaventura explores veins that have silver, lead, and zinc mineralization.

In addition, the company explores the gold and silver oxide La Zanja deposit, the Hantahuatay gold and silver deposit, and the Trapiche copper and molybdenum deposit. The company expects to commence construction in La Zanja and Tantahuatay in 2009. Construction activities in Trapiche are planned for 2010. The Orocampa mine produces gold and silver as a by-product. The annual output of gold is about 0.25 million ounces. The Julcani mining site contains copper, gold, lead, silver, and zinc. The sight is under exploration. The Antapite mine delivers gold and silver as a by product. The site produces about 0.13 million ounces of gold.

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