- Buenaventura (BVN, Financial) reports mixed Q1 2025 production results with strong silver performance.
- Yumpag mine delivers 2.28 million ounces of silver, surpassing projections.
- Gold averages $2,943/oz, silver $32.22/oz, copper $9,292/MT, maintaining robust prices.
Buenaventura (BVN), Peru's largest publicly traded precious metals mining company, has released its first quarter results for 2025, showing a mixed yet promising production performance. The company's total gold production, including associated operations, reached 31,483 ounces compared to a 2025 guidance of 122.6k to 144.4k ounces.
In a standout performance, silver production totaled 3.5 million ounces, with the Yumpag mine contributing significantly, producing 2.28 million ounces. Yumpag benefitted from access to high-grade stopes, and its production alone could exceed annual guidance.
Tambomayo mine exceeded projections for gold and silver due to higher ore volumes, whereas Uchucchacua faced setbacks, with lead and zinc production falling short of guidance owing to lower grades and increased dilution from softer ground conditions.
Metals pricing remained robust during the quarter, with average realized prices of $2,943 per ounce for gold, $32.22 per ounce for silver, and $9,292 per metric ton for copper. These prices provide a strong economic outlook for Buenaventura's operations.
The San Gabriel project is expected to initiate production in Q4 2025, potentially contributing an additional 10,000 to 15,000 gold ounces, which could compensate for any shortfalls experienced elsewhere in the portfolio.
