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

Buenaventura, a mining company based in Peru, reported a dip in lead, zinc and copper production in Q1 compared to the prior year quarter due to various technical reasons, the  company stated.

Lead production fell 49pc to a total of 5,139mt in Q1 from the prior year quarter. The company has three operations that produce lead. Zinc production dipped 29pc in Q1 to 13,274mt from prior-year quarter. Copper production was reported at 7,687mt in Q1. 

At Uchucchacua, lead and zinc production was below expectations due to lower production from underground mine development delays and delayed ramp-up. Production at El Brocal, that mainly produces copper, was better than expectations and Ore production was higher in Q1. Guidance for the mine remains unchanged at 37,000-42,000mt for the year. 

Total zinc guidance for the year was reported at 60,900-69,500mt while lead production is forecast at 24,900-32,500mt.

Lead sales in Q1 dropped 35pc to 4,851mt from the corresponding quarter a year ago. Zinc sales have fallen 29pc to 10,806mt while copper sales slipped 11pc to 7,536mt from Q1 2020. 

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