|
|
Article: United States: Buenaventura Posts 4th-Quarter Net Loss on Copper, Mine Costs.(Financial report)
- Article from:
- TendersInfo
- Article date:
- February 28, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Byline: sanjayV03
Cia. de Minas Buenaventura SA, the biggest Peruvian precious-metals producer, posted a fourth- quarter net loss on rising costs and slumping base-metals prices.
The net loss of $6.1 million, or 2 cents per American depositary receipt, compares with a profit of $120.1 million, or 47 cents, a year earlier, Lima-based Buenaventura said today in an e-mailed statement.
The company sold gold at an average of $803 an ounce in the quarter, up 1 percent from a year earlier. The increase was more than offset by higher mining costs and declining profit from the company s stake in the Cerro Verde copper mine, said Alonso Aramburu, a ...