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

Peru-based miner Buenaventura reported a drop in base metal production and sales in 2020 and Q4 compared to 2019 levels.


In 2020, lead and copper production suffered a hard blow while zinc was relatively less affected. Lead production in 2020 settled at 31,767mt, down 36pc from the previous year. In Q4 lead production dipped 33pc to 8,326mt from the previous year quarter. Lead production at Tambomayo unit was slightly above 2020 guidance.


Zinc production in 2020 dipped 10pc to 65,399mt from prior year. Q4 production is down 8pc to 16,541mt from prior year. Copper production in 2020 reached 30,608mt, down 30pc from the prior year. In Q4, production was 24pc lower at 9,252mt from previous year quarter. 


Lead and zinc production at Uchucchacua were in line with the revised guidance, stated the company. The company was dedicated to ramp-up mine development in Q4 but was delayed with the reduced workforce during the prior quarters because of COVID-19 restrictions. 

Buenaventura production (mt) 20202019Pc ChangeQ4 2020Q4 2019Pc Change
Zinc 65,39972,397-10pc16,54118,071-8pc


The company has stated Tambomayo’s lead production guidance at 5,900-6,500mt and zinc at 6,900-7,500mt. Uchucchacua 2021 production guidance for lead and is at 7,000-10,000mt each. At El Brocal unit, guidance for zinc is at 47,000-52,000mt, copper at 37,000-42,000mt and lead between 12,000-16,000mt. 


Buenaventura sales (mt)20202019Pc ChangeQ4 2020Q4 2019Pc Change


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