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Buenaventura Announces Fourth Quarter and Twelve Month 2020 Results
February 26, 2021 GMT
LIMA, Peru (BUSINESS WIRE) Feb 25, 2021
Compañia de Minas Buenaventura S.A.A. (“Buenaventura” or “the Company”) (NYSE: BVN; Lima Stock Exchange: BUE.LM), Peru’s largest publicly-traded precious metals mining company, today announced results for the fourth quarter (4Q20) and twelve-month (FY20) period ended December 31, 2020. All figures have been prepared in accordance with IFRS (International Financial Reporting Standards) on a non-GAAP basis and are stated in U.S. dollars (US$).
Fourth Quarter 2020 Highlights:
Global silver output to rise 8.1% in 2021 – report
Peñasquito silver mine in Mexico. (
Following four consecutive years of annual decline, global silver production is expected to increase by 8.1% in 2021 to 918.3 million ounces (moz) and then exceed one billion ounces by 2024 – a 3.2% compound annual growth rate (CAGR), according to GlobalData.
Mexico, Peru and China will be the key contributors towards silver mine production growth, with combined production in these countries expected to increase from a forecast 393.9moz in 2021 to 443.9moz in 2024.
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This forecast follows a year of decline in 2020, which saw global silver mine production fall by an estimated 2.4% to 849.7 million ounces, partly owing to lockdowns and restrictions in top silver-producing countries. In addition, depleting ore reserves have been a major concern for the industry in the recent years, GlobalData says.
davidFebruary 23, 2021 9
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MMTP , also commercially known as Latitude Silver ) are pleased to announce the signing of a business combination agreement (the
Business Combination Agreement ). Pursuant to the Business Combination Agreement, Oro X will acquire 100% of the issued and outstanding shares of MMTP (the
Transaction ).
With a team led by CEO Jose Garcia, Executive Chairman Luis Zapata, and Lead Advisor Paul Matysek, Silver X will be Latin America s next low-cost silver producer. The combination of Oro X s and MMTP s teams, assets and operational experience creates a growth-focused platform primed to consolidate the fragmented Peruvian silver landscape.
Upgrading and expanding MMTP s Nueva Recuperada inferred resource pursuant to a NI 43-101 Technical Report for Recuperada Project, Peru with an effective date of October 15, 2020 (the