(23-07-2025) Cía. de Minas Buenaventura, A local leader in the production of precious metals announced a net income for the first half of 2025 (June 30, 2025; 6M25) of US$ 245.2 million, compared to US$ 141.4 million in 6M24. Net income for 2Q25 reached US$ 98.2 million, compared to US$ 74.4 million in the same period of 2024.
This is part of the company’s presentation of its operating and financial results for the second quarter of 2025 (2Q25) and the first six months of the current year (6M25).
- EBITDA from direct operations in 2Q25 was US$ 130.1 million, compared to US$ 107.2 million in 2Q24. EBITDA from direct operations for 6M25 reached US$ 256.4 million, compared to US$ 201.7 million in 6M24.
- The company’s cash position reached US$ 588.5 million at the close of 2Q25, while net debt amounted to US$ 271.7 million, resulting in a leverage ratio of 0.56x.
- Buenaventura’s copper production in 2Q25 increased by 28% year-over-year, mainly due to the suspension of operations at El Brocal in 2Q24 and the impact on copper ore processing during that period. Consolidated silver production in 2Q25 decreased by 11%, zinc increased by 22% year-over-year, and lead increased by 2% year-over-year, mainly due to the mine plan at Uchucchacua and Yumpag. Gold production decreased by 19% year-over-year due to lower output at Orcopampa and Tambomayo.
- Capital expenditure (CAPEX) in 2Q25 related to San Gabriel was US$ 82.2 million, mainly allocated to the processing plant, filtered tailings deposit, and vertical and horizontal mine development.
- During 2Q25, Buenaventura began commercializing a portion of the copper concentrate from Cerro Verde. Approximately 20,000 WMT had been sold by the end of the quarter, out of a total of ~40,000 WMT projected for the entire year 2025.
- On July 23, 2025, Buenaventura redeemed the remaining US$ 149 million of its 2026 bonds at par, including accrued interest.