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Buenaventura (NYSE: BVN; Lima: BUE) reported mixed results for 4Q20 and FY20. The company experienced a net loss of US$ 60 million, worsening from a loss of US$ 53.7 million in 4Q19. In contrast, Adjusted EBITDA rose to US$ 192.4 million, up 5% from 4Q19. Total revenues increased slightly to US$ 236.1 million, remaining stable compared to 4Q19. However, FY20 revenues declined by 22% to US$ 676.5 million. Capital expenditures decreased slightly to US$ 38 million. The company's cash position improved to US$ 235.4 million, with no mine-related fatalities reported in 2020.
Compañia de Minas Buenaventura S.A.A. (NYSE: BVN; Lima Stock Exchange: BUE.LM) reported its 4Q20 production results and 2021 guidance. In 4Q20, gold production reached 15,699 ounces, and silver production was 477,127 ounces, contributing to total FY20 gold production of 63,477 ounces, below the revised guidance of 70k-74k ounces. The company anticipates improvements in 2021, with gold guidance set between 69k-75k ounces and silver guidance at 1.2M-1.4M ounces. Notably, production may be adversely impacted by potential COVID-19 effects.
Compañía de Minas Buenaventura S.A.A. (NYSE: BVN; Lima Stock Exchange: BUE.LM) will host its Fourth Quarter 2020 earnings conference call on February 26, 2021, at 9:00 AM ET. The company's financial results will be released on February 25, 2021, after market close. CEO Leandro García Raggio and senior management will participate in the call to discuss the results. Interested participants can join via a toll-free number or register for a call-back option. The conference call will be available for replay for 7 days.
Compañia de Minas Buenaventura S.A.A. (NYSE: BVN; Lima Stock Exchange: BUE.LM) has promoted Mr. Aldo Massa to Vice President of Business Development and Commercial, effective immediately. Previously serving as Commercial Manager since February 2020, Massa brings over 23 years of mining experience, including a role at Southern Copper Corporation. CEO Leandro Garcia praised Massa's leadership and negotiation skills, emphasizing his importance in developing key partnerships. Buenaventura is Peru's largest publicly traded precious metals mining company, engaged in mining gold, silver, and base metals.
Compañia de Minas Buenaventura S.A.A. (NYSE: BVN; Lima: BUE.LM) has appointed Mr. Raul Benavides to its board of directors, effective immediately. He replaces Dr. José Miguel Morales Dasso, who retired after reaching the maximum age limit for board members. Mr. Benavides brings 40 years of experience with the company, previously serving as Vice President of Business Development. The Chairman, Mr. Roque Benavides, expressed confidence in Raul’s ability to enhance profitability and shareholder value while acknowledging Dr. Morales’ significant contributions during his 50 years of service.
Compañia de Minas Buenaventura S.A.A. (NYSE: BVN; Lima Stock Exchange: BUE.LM) announced the retirement of Mr. Raul Benavides, Vice President of Business Development, after 40 years at the Company. Mr. Benavides significantly contributed to the growth of Buenaventura, including the initiation of operations at major mines such as Yanacocha and Coimolache. He held the VP position since 2011 and previously managed business development and mining operations. Buenaventura remains Peru's largest publicly traded precious metals mining company with extensive mining rights and operations.
