Business: Buenaventura posts US$594mn net income in 2009, thanks to Yanacocha

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News - Monday, March 1, 2010

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* Buenaventura posts US$594mn net income in 2009, thanks to Yanacocha - Peru

Peru's largest miner Buenaventura (NYSE: BVN) posted 2009 net income of US$594mn, up 288% compared to US$153mn in the prior year due to higher metals prices and increased output at the Yanacocha gold mine, according the company's annual results.

Gold sales including Buenaventura's 43.7% stake in Yanacocha reached 1.32Moz last year, up 8% from 1.22Moz in 2008. Averaged realized gold prices increased to US$978/oz from US$874/oz, the company said.

Net sales for 2009 were US$819mn compared to US$7 ... more
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