Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Peru’s largest mining company, Buenaventura, expects a lower output of lead in 2020 compared to 2019. 


The company, which announced its Q4 and 2019 production and volumes for lead, zinc and copper along with other precious metals reported actual lead production at around 49,803mt in 2019, of which 12,503mt was produced in Q4. All mines achieved their production targets except the Uchucchacua mine that produced 17,635mt in 2019 against a guidance of 20,000-21,000mt. 


For 2020, the miner estimates lead production to fall especially from its Tambomayo and Julcani mines that are projected to produce 5,000-6,000mt and 900-1,200mt, respectively. 


In 2019, Tambomayo exceeded production guidance of 6,500-7,500mt to produce 7,603mt, whereas the Julcani mine met its 2019 guidance of 900-1,000mt to produce 966mt of lead.


Buenventura sold close to 10,859mt of lead in Q4 2019 and 45,995mt for the 12-month period ended Dec 31.


Buenaventura reported a production of 74,396mt of zinc in 2019 out of which 18,072mt was produced in Q4. The company has forecasted an increase in its zinc production across its three mines in 2020 in the range of 47,000-55,000mt for EI Barcal, 27,000-32,000mt for Uchucchacua, and 7,000-8,000mt for Tambomayo. 


The miner sold 59,953mt of zinc in 2019 out of which 14,702mt was sold in Q4. 


The Peruvian miner reported an output of 43,394mt for copper in 2019, out of which 12,159mt was produced in Q4. Copper production was below the company’s estimated 2019 guidance, which was in the range of 47,000-57,000mt. It has kept its 2020 guidance at 48,000-57,000mt for the metal as an open pit at its El Brocal mine is expected to make an additional contribution to copper output. 

The mine sold 41,013mt of copper in 2019 out of which 11,530mt was sold in Q4.

Leave a Reply

Your email address will not be published.