Compania de Minas Buenaventura (NYSE:BVN)

Compania de Minas Buenaventura (NYSE:BVN) baut seit 1953Precious Metals ab. Sie wurden in Peru gegründet. Peru ist ein attraktiver Standort für den Abbau von Precious Metals. Sie gehören zu den wichtigsten Gold- und Silberproduzenten auf der Welt.

Ihnen gehören zwei wachsende Untertage Goldminen (Orcopampa und Antapite) und die 4. größte Silbermine (Urcucchacua). Sie haben einen 43,65% Anteil an Yanacocha, Lateinamerikas größte Goldmine und eine der größten auf der Welt und einen 18,33% Anteil an Cerro Verde, ein bedeutendes Kupferunternehmen in Peru.

Sie verfügen über sehr gute geologische Informationen in Peru und ein aggressives Explorationsprogramm. Sie haben Joint Ventures mit Newmont, Penoles, Gold Fields, SPCC und Barrick. Sie haben eine solide Reservebasis und ein hohes Produktions- und Gewinnniveau. An der Lima Stock Exchange (BUE.LM) sind sie seit 1971 gelistet und an der NYSE (BVN) seit 1996.

Am Donnerstag hatte Buenaventura an der NYSE mit $24,33 geschlossen und damit beträgt Ihr P/E aktuell 11,81.

SMA 50: 25,22 < SMA 200: 26,60

Sie verfügen über eine solide Reservebasis:

- 15,2 Mio. Unzen Gold
- 109,7 Mio. Unzen Silber und
- 2.246.000 ST Kupfer.

2005 haben sie Ihre Produktion gesteigert.

auf 1,81 Mio. Unzen Gold, 15,4 Mio. Unzen Silber und 1.910.000 ST Kupfer

2006 planen sie eine Produktion von:

1,60 Mio. Unzen Gold, 18,0 Mio. Unzen Silber und 2.090.000 ST Kupfer.

2005 haben sie Ihr wirtschaftliches Ergebnis steigern können, auf

- einen Umsatz von 344 Mio. US-$,
- EBITDA (BVN eigene Betriebe) 112,5 Mio. US-$
- EBITDA (einschl. Yanacocha und Cerro Verde) 571 Mio. US-$
- Nettoeinnahmen 274,3 Mio. US-$ und 292,8 Mio. US-$ (ohne Effekt von Mark Market Value variation)

Im 4. Quartal konnten sie Ihr Quartalsergebnis (ggü. dem Vorjahr) steigern auf

- einen Umsatz von 103,9 Mio. US-$,
- EBITDA (BVN eigene Betriebe) 37,7 Mio. US-$
- EBITDA (einschl. Yanacocha und Cerro Verde) 206,4 Mio. US-$
- Nettoeinnahmen 96,1 Mio. US-$ und 111,5 Mio. US-$ (ohne Effekt von Mark Market Value variation)

Um dieses zu erreichen war folgendes erforderlich:

Orcopampa

Produktion ggü. Reserven und Ressourcen

ca. 1.300.000 Unzen Ressourcen (2005)
233.000 Unzen Reserven (2005)
235.000 Unzen Reserven (2006e)

und hat seit 1967 1,6 Mio. Unzen Gold und 167,8 Mio. Unzen Silber produziert.

Antapite

Produktion ggü. Reserven und Ressourcen

ca. 250.000 Unzen Ressourcen (2005)
104.000 Unzen Reserven (2005)
105.000 Unzen Reserven (2006e)

und hat seit 2000 400.000 Unzen Gold und 400.000 Unzen Silber produziert.

Uchucchacua

Produktion ggü. Reserven und Ressourcen

ca. 120 Mio. Unzen Ressourcen (2006e)
10,2 Mio. Unzen Reserven (2005)
11 Mio. Unzen Reserven (2006e)

und hat seit 1970 128,5 Mio. Unzen Silber produziert.

Yanacocha

Produktion ggü. Reserven und Ressourcen

ca. 42,5 Mio. Unzen Ressourcen (2006e)
3,33 Mio. Unzen Reserven (2005)
2,50 Mio. Unzen Reserven (2006e)

und hat seit 1993 schon 21 Mio. Unzen Gold produziert.

Cerro Verde

2005 betrug die gesamte Produktion 100K tons, der Umsatz 359 Mio. US-$ und das Nettoergebnis 233 Mio. US-$.

2006 wird eine Produktion von 100K tons erwartet.

Die zukünftige Produktion wird erwartet mit

- Oxides 100K tons/Jahr in Kathoden
- Sulfides 100K tons/Jahr in Konzentraten
Gesamt: 300K tonsJahr Cu

Cerro Verde ist in erster Linie ein Sulfideprojekt.

Das Gesamtinvestment beträgt 850 Mio. US-$
Das Projekt wurde mit 440 Mio. US-$ an eingesetzten Kapital und mit 410 Mio. US-$ Schulden finanziert.

Die Reserven betragen 1,4 B tons
Grade: 0,49% Cu

Die Produktion ist mit 34 Jahren (LOM) geplant.
Der Oredurchlauf soll 119Ktpd betragen
Das Stripping Ratio beträgt durchschnittlich 0,5
Cu in Konzentraten 6,1 Mio. tons (LOM)

Das Projekt hat auf BVN einen erwarteten Einfluß von:

Investment 154,8 Mio. US-$
IRR 11% bei 0,90 $/lb
IRR 18% bei 1,10 $/lb

Vision bis 2.014:

Buenaventura will ein global konkurrenzfähiges Minenunternehmen sein und ein Führer im Bezug auf die Profitabilität. Für seine Aktionäre will es Werte schaffen und für seine Beschäftigten Sicherheit. Das Unternehmen fühlt sich der Umwelt verpflichtet und schafft strategische Allianzen mit seinen Partnern um zu einer tragfähigen Entwicklung beitragen zu können.

Strategie:

Der Schwerpunkt liegt auf dem Abbau vpn Precious Metals in Peru und ist offen für Basismetalle. Sie werden ein starkes Unternehmen bleiben. Ihre Betriebe werden ständig auf den neuesten Stand gehalten in Bezug auf hohe Sicherheitsstandards, Umweltschutz und solziale Verantwortung. Sie generieren Reserven durch Exploration. Sie verfolgen Akquisitionen vorzugsweise in Lateinamerika. Sie teilen die Risiken durch Joint Ventures. Sie halten einen permanenten Kontakt mit Ihren Investoren. Und sie haben sich in puncto Unternehmensführung auf bewährten besten Praktiken verpflichtet.

Zitat

Original von Edel Man
War lange Zeit ein Highflyer,mit extrem niedrigen Cash Costs usw.
Hat andererseits den PM-Höhenflug zuletzt nicht mitgemacht und konsolidiert derzeit.

Merkwürdigerweise nie in den vielen Jahren in meinem Depot.
War/ist m.W. aber in Deinem,GSP-Komet?
Hab die da mal vor längerer Zeit gesehen.

Apropos:gibts dieses noch,war mal in Musterdepots,meine ich ?

Grüsse

Alles anzeigen

Edel Man

BVN ist natürlich immer noch in meinem Musterdepot, welches bis heute unverändert geblieben ist.

BVN ist auf diesem Niveau nach meiner persönlichen Meinung ein "Strong Buy". BVN ist eine Gelddruckmaschine, P/E von ca. 11! für ein bedeutendes Unternehmen unter den Gold-, Silber- und Kupferproduzenten!!! BVN hat etwas wegen der Wahl gelitten. Dieses Wahlergebnis sollte nach meiner Meinung nun eingepreist sein!

mfg

Peru's largest publicly-traded precious metals mining company

http://www.buenaventura.com.pe/

Peru's Benavides named chairman of Buenaventura unit

LIMA (MarketWatch) -- Peruvian miner Compania de Minas Buenaventura SAA (BVN) said in a statement that Alberto Benavides de la Quintana is the new chairman of Inversiones Mineras del Sur S.A. or Inminsur, one of its subsidiaries.

http://www.marketwatch.com/New…%2DB484%2D3D34246C7970%7D

10/04/06 Buenaventura cut to peer peform at Bear Stearns - MarketWatch

Last Update: 4:30 PM ET Oct 6, 2006

LIMA, Peru, Oct 06, 2006 /PRNewswire-FirstCall via COMTEX/ -- Compania de Minas Buenaventura S.A.A. ("Buenaventura") (BVN) (Lima Stock Exchange: BUE.LM), Peru's largest publicly-traded precious metals mining company, announced that the Company's Board Meeting, held today, passed the following resolutions:

1. Approval of the merger project by absorption of Inversiones Mineras del
Sur S.A. by Buenaventura.

2. To call an extraordinary Shareholders Meeting to be held
November 2, 2006, to approve the aforementioned merger by absorption.

Company Description

Compania de Minas Buenaventura S.A.A. is Peru's largest, publicly-traded precious metals company and a major holder of mining rights in Peru. The Company is engaged in the mining, processing, development and exploration of gold and silver and other metals via wholly owned mines as well as through its participation in joint exploration projects.
Buenaventura currently operates three mines in Peru and also has controlling interests in four mining companies, as well as a minority interest in several other mining companies in Peru. The Company owns 43.65% in Minera Yanacocha S.R.L. (a partnership with Newmont Mining Corporation) and is one of the most important precious metal producers in the world.

Buenaventura Exercises Option to Purchase Remaining 25% of Minas Poracota

LIMA, Peru, Oct 10, 2006 /PRNewswire-FirstCall via COMTEX/ -- Compania de Minas Buenaventura S.A.A. ("the Company" or "Buenaventura") (BVN :
Compania De Minas Buenaventuras S.A ) (Lima Stock Exchange: BUE.LM), Peru's largest publicly-traded precious metals mining company, announced today that it has accepted the decision of Teck Cominco Peru S.A. to sell its 25% interest in Minas Poracota S.A. to Buenaventura.
Buenaventura will purchase Teck Cominco Peru's 25% interest in Minas Poracota S.A. for US$2.25 million in cash, becoming 100% owner of Minas Poracota S.A.
Minas Poracota S.A owns 100% of the Poracota Project, located in the district of Cayarani, 20 kilometers west of the Orcopampa mine in Arequipa in southern Peru. Buenaventura has been exploring this prospect, with promising results, since 2003.
Company Description
Compania de Minas Buenaventura S.A.A. is Peru's largest, publicly-traded precious metals company and a major holder of mining rights in Peru. The Company is engaged in the mining, processing, development and exploration of gold and silver and other metals via wholly-owned mines as well as through its participation in joint exploration projects.
Buenaventura currently operates three mines in Peru and also has controlling interests in four mining companies as well as a minority interest in several other mining companies in Peru. The Company owns 43.65% in Minera Yanacocha S.R.L. (a partnership with Newmont Mining Corporation), an important precious metal producer, and 18.50% in Sociedad Minera Cerro Verde, an important Peruvian copper producer.

Peru miners expected to post solid quarterly earnings

Last Update: 4:58 PM ET Oct 19, 2006

By Rebecca Howard
Of DOW JONES NEWSWIRES
LIMA (MarketWatch) -- Strong metals prices will have boosted third-quarter earnings at Peru's largest mining companies, local brokerages said.
"Prices for the main metals, both base and precious, registered strong increases in the third quarter of this year," Banco de Credito, Peru's largest bank, said in a report.
Among Peru's many miners, the biggest ones, such as Southern Copper Corp (PCU), Compania de Minas Buenaventura SAA (BVN), Sociedad Minera Cerro Verde SA (CVERDEC1.VL) and Volcan Compania Minera SAA (VOLB.VL) are set to report quarterly earnings.

Buenaventura Seen Strong
Banco de Credito also forecasts that Compania de Minas Buenaventura SAA will post third-quarter net income of $103.5 million. That compares to a net income of $40.7 million or $0.32 per share in the same period a year ago.
Centura sees Buenaventura's net income in the third-quarter at $136.5 million.
Buenaventura has a 43.65% stake in Minera Yanacocha, one of the largest gold mines in the world. However, analysts say that Buenaventura will also benefit from its 18% stake copper miner Sociedad Minera Cerro Verde SA.
The brokerages noted that the company will benefit from stronger gold and copper prices at the Yanacocha mine and at Cerro Verde, although that will be offset to some extent by lower production and higher costs at Yanacocha.

Compania de Minas Buenaventura Announces Third Quarter 2006 Conference Call

Last Update: 11:27 AM ET Oct 20, 2006

LIMA, Peru, Oct 20, 2006 /PRNewswire-FirstCall via COMTEX/ -- Compania de Minas Buenaventura (BVN) announces the following webcast:

What: Compania de Minas Buenaventura Third Quarter 2006 Conference Call

Who: Presenting for Buenaventura: Roque Benavides, President and CEO

When: Tuesday, October 31, 2006 @ 10:00 a.m. EST

Where: http://www.videonewswire.com/event.asp?id=36221

Dial-in information
1-800-289-0548 (913-981-5535 outside the U.S.)
Conference name: Buenaventura

The replay will be available through November 7, 2006, 11:59 pm
Dial-in: 1-888-203-1112 (719-457-0820 outside the U.S.)
Confirmation code: 7391194

Contact: Peter Majeski
i-advize Corporate Communications, Inc.
+1-212-406-3690
pmajeski@i-advize.com

If you are unable to participate during the live webcast, the call will be archived at http://www.buenaventura.com . To access the replay, click on Investor Relations Section.
Compania de Minas Buenaventura S.A.A. is Peru's largest, publicly traded precious metals company and a major holder of mining rights in Peru. The Company is engaged in the mining, processing, development and exploration of gold and silver and other metals via wholly owned mines as well as through its participation in joint exploration projects.
Buenaventura currently operates three mines in Peru and also has controlling interests in four mining companies as well as a minority interest in several other mining companies in Peru. The Company owns 43.65% in Minera Yanacocha S.R.L. (a partnership with Newmont Mining Corporation) and is one of the most important precious metal producers in the world.
SOURCE Compania de Minas Buenaventura S. A. A.

The price of silver could hit $15 an ounce in the next few months, according to predictions of a new report from GFMS, out Tuesday evening.

...

Such predictions will come as welcome news to owners of iShares Silver Trust (SLV ), the exchange-traded fund which holds silver bullion, as well as shareholders of silver miners, such as Pan American Silver (PAAS) and Compania de Minas Buenaventura (BVN).

aus:

Silver Seer Sees Surge

Union workers at Peru's Cerro Verde mine begin 48-hour strike

Last Update: 6:16 PM ET Nov 27, 2006

LIMA (MarketWatch) -- Union workers began a 48-hour strike at Peruvian copper miner Sociedad Minera Cerro Verde SAA (CVERDEC1.VL) on Monday, union secretary general Zenon Mujica said.

...

Compania de Minas Buenaventura SAA (BVN) and a subsidiary of Sumitomo Corp. (8053.TO) also have equity stakes.

Peru's Cerro Verde expansion in commissioning phase

LIMA (MarketWatch) -- Sociedad Minera Cerro Verde SAA's (CVERDEC1.VL) $850 million expansion to its currently operating mines in Peru is about to come onstream, according to company officials.
"Commissioning is in process," Cerro Verde President John Broderick said in an email to Dow Jones Newswires.
That commissioning is the last step before declaring a system fully operational and deeming it qualified to be used in ongoing production, a company spokesman said.
Cerro Verde, majority-controlled by Phelps Dodge Corp. (PD), currently operates two open-pit mines in southern Peru.
The two-year expansion project involved building a new concentrator and developing a primary sulfide ore body beneath the leachable ore body currently in production.
The expansion will allow Cerro Verde to triple current production to roughly 300,000 tons a year.
Company officials have said the project will begin operations in the last quarter of this year, with the remainder beginning in the first quarter of 2007.
Broderick also said that the company has recognized that there "are opportunities to expand the mill in the future."
He added, however, that "we will address future opportunities after the present task is commissioned and implemented."
Compania de Minas Buenaventura SAA (BVN) and a subsidiary of Sumitomo Corp. (8053.TO) also have equity stakes in the company.

By Rebecca Howard
Of DOW JONES NEWSWIRES
LIMA (MarketWatch) -- A sharp fall in Peru's recent gold production can be tied in part to social problems in this Andean nation, Compania de Minas Buenaventura SAA's (BVN) chief executive Roque Benavides said Tuesday.
Peru's gold production fell 27% in October from the same month a year earlier, the government's statistics agency has said.
Gold production at Minera Yanacocha SRL "has fallen around 33% this year and will fall another 33% or more next year. This is a product of social problems," Benavides told Dow Jones Newswires on the sidelines of a ceremony.
Buenaventura holds a 43.65% share in Yanacocha, one of the biggest gold mines in the world. The mine is operated by Newmont Mining Corp., (NEM) with a 51.35% stake, while the International Finance Corp holds a 5.0% stake.
According to Benavides, Yanacocha will produce 2.6 million ounces of gold this year and 1.6 million ounces of gold in 2007.
In 2005 the mine produced 3,333,088 ounces of gold.
"The fall has nothing to do with the mineral grade but it is the fact that we cannot go into a series of zones and every time we try to develop new projects anti-mining groups appear and make it increasingly difficult," he said.
Mine Object Of Protests
Yanacocha has been the object of a series of social protests in recent years.
In 2004, for example, it was forced to shelve exploration plans in the nearby area known as Cerro Quilish, estimated to contain 3.7 million ounces of gold, after violent protests by farmers who believed the project threatened water supplies.
According to Benavides, the mining sector as a whole is at risk.
"We have begun to notice serious symptoms. The number of mining claims has declined over the past year," he said.
He pointed to the fact that in October's gross domestic product number, the mining sector declined by 9.69% over the same month a year before.
"It was affected by gold but later it will be affected by other minerals," he said.
Benavides did laud efforts made by the current government to stave off social protests.
"We must emphasize that this government and principally Prime Minister Jorge del Castillo has made the effort to confront the problems," he said.
Del Castillo has been instrumental in negotiating solutions to several conflicts in the mining and hydrocarbons sectors.
Among other things his office has created a high level commission to prevent social conflicts before they escalate into protests.
Buenaventura also runs a number of other mines in Peru, mining mainly gold and silver.

Last Update: 5:13 PM ET Dec 28, 2006

LIMA (MarketWatch) -- Southern Copper Corp. (PCU) signed an agreement with the Peruvian government to make a voluntary payment for social programs, the company said in a statement Thursday.
In August, President Alan Garcia's government brokered a deal with the mining industry under which companies agreed to make a voluntary "windfall" payment of more than $775 million over five years for social programs.
The windfall payment was in response to protests by local communities that say they receive little or no benefit from mining in their areas, particularly against a backdrop of rising metals prices and higher production.
The government unveiled the framework agreement late last week and is now signing individual deals with companies. It said it hopes to sign agreements with 43 companies.
Agreements signed so far include those with Compania de Minas Buenaventura SAAs (BVN); Minera Yanacocha SRL, operated by Newmont Mining Corp. (NEM); base metals miner Compania Minera Milpo SAA (MILPOC1.VL); and copper-zinc miner Compania Minera Antamina SA, according to a spokesman from the ministry of energy and mines.
Under the terms of the deal, companies will contribute 3.75% of their net profit after paying income taxes.
The agreement stipulates, however, that companies already paying royalties of up to 3% on their sales will be able to deduct a significant percentage of those royalties from the voluntary payments.
The agreement also sets reference prices for the different metals. Should the prices dip below those levels, companies won't be obligated to continue making the payments.

LIMA, Peru, Jan 02, 2007 /PRNewswire-FirstCall via COMTEX/ -- Compania de Minas Buenaventura S.A.A. ("the Company" or "Buenaventura") (BVN) (Lima Stock Exchange: BUE.LM), Peru's largest publicly-traded precious metals mining company is pleased to share its satisfaction with Cerro Verde's filing, before CONASEV, regarding the first shipment from the $850 million sulfide expansion of copper concentrate production. This shipment consisted of approximately 9,500 dry metric tons of copper concentrate sold for processing to Sumitomo Metal Mining Co. Ltd., one of the major shareholders of the Cerro Verde Mine.

...

LIMA, Peru, Feb 28, 2007 /PRNewswire-FirstCall via COMTEX/ -- Compania de Minas Buenaventura S.A.A. ("Buenaventura" or "the Company") (BVN: Compania De Minas Buenaventuras S.A.) ; (Lima Stock Exchange: BUE.LM), Peru's largest publicly traded precious metals mining company, announced today its results for the fourth quarter of 2006. All figures have been prepared according to Peruvian GAAP and are stated in U.S. dollars (US$).
Comments from the Chief Executive Officer:
Mr. Roque Benavides, Chief Executive Officer of Buenaventura stated: "We are pleased to report a very good performance from our direct operations for the quarter. As a result, operating income was US$108.7 million, 328% higher than the figure recorded in 4Q05. This increase was explained by higher sales revenues, which partially offset the lower contribution from non-consolidated affiliates.
"Net income in 4Q06 was US$78.8 million, or US$0.62 per ADS, which represents a decrease of 19% when compared to 4Q05.
"EBITDA from Buenaventura's direct operations was US$110.1 million, 190% higher than the figured achieved in 4Q05."
In 4Q06, net sales were US$179.3 million, a 122% increase when compared to the US$80.7 million reported in 4Q05 mainly due to higher volumes of silver, lead, zinc and gold sold, as well as an increase in the realized prices of zinc, silver and lead.
Royalty income during 4Q06 totaled US$9.2 million, a 41% decrease when compared to the US$15.8 million reported in 4Q05. This was due to lower sales at Yanacocha.
Accumulated net sales for 2006 were US$548.1 million, a 93% increase compared to 2005 (US$283.4 million). Accumulated royalty income was US$48.5 million, a 5% increase when compared to US$46.1 million in 2005.
Buenaventura's equity production[1] during 4Q06 was 100,394 ounces of gold, 10% higher than the 91,138 ounces reported in 4Q05; and 4,156,784 ounces of silver, a 20% increase when compared to the 3,478,239 ounces reported in 4Q05.
Equity production[1] for the accumulated twelve-month period was 405,383 ounces of gold and 15,450,953 ounces of silver. This represented an increase of 13% in gold production (359,968 ounces in 2005) and a 15% increase in silver production compared to 2005 (13,482,293 ounces).
At Orcopampa (100%), total gold production in 4Q06 was 65,624 ounces, an 11% increase when compared to the 58,948 ounces reported in 4Q05 mainly due to a higher grade. Accumulated gold production was 254,631 ounces, a 9% increase when compared to 2005 (233,182 ounces).
Cash operating cost during 4Q06 was US$155/oz, 8% higher when compared to 4Q05 (US$143/oz). This was best explained by an increase in tunneling and diamond drilling, as well as higher reagent prices for the cyanidation plant. Cash operating cost for 2006 was US$145/Oz, 7% higher than the figure reported for 2005 (US$135/Oz).
Total royalties paid to the government at Orcopampa in 4Q06 were US$0.7 million. For 2006, royalties totaled US$2.1 million.
At Uchucchacua (100%), total silver production during 4Q06 was 2,458,477 ounces a 2% decrease when compared to 4Q05 (2,513,737), mainly due to lower grade (15.2 Oz/ST in 4Q06 versus 16.8 Oz/ST in 4Q05). Accumulated silver production was 9,692,300 ounces, a 5% decrease when compared to 2005 (10,213,933 ounces).

LIMA, Peru, March 1, 2007 /PRNewswire-FirstCall via COMTEX/ -- Compania de Minas Buenaventura (BVN: Compania De Minas Buenaventuras S.A.) announces the following webcast:

What: Compania de Minas Buenaventura Fourth Quarter 2006 Conference
Call

Who: Presenting for Buenaventura: Roque Benavides, President and CEO

When: Thursday, March 1, 2007 @ 10:00 a.m. EST

Where: http://www.videonewswire.com/event.asp?id=38050

Dial-in information
1-888-693-3477 (973-582-2710 outside the U.S.)
Conference name: 8414321

The replay will be available through March 8, 2007, 11:59 p.m.
Dial-in: 1-877-519-4471 (973-341-3080 outside the U.S.)
Confirmation code: 8414321

Contact: Peter Majeski
i-advize Corporate Communications, Inc.
+1-212-406-3690
pmajeski@i-advize.com

If you are unable to participate during the live webcast, the call will be archived at http://www.buenaventura.com . To access the replay, click on Investor Relations Section.
Compania de Minas Buenaventura S.A.A. is Peru's largest, publicly traded precious metals company and a major holder of mining rights in Peru. The Company is engaged in the mining, processing, development and exploration of gold and silver and other metals via wholly owned mines as well as through its participation in joint exploration projects.
Buenaventura currently operates three mines in Peru and also has controlling interests in four mining companies as well as a minority interest in several other mining companies in Peru. The Company owns 43.65% in Minera Yanacocha S.R.L. (a partnership with Newmont Mining Corporation) and is one of the most important precious metal producers in the world.
SOURCE Compania de Minas Buenaventura S. A. A.