Peru’s largest precious metals producer Buenaventura reported a US$10.3 million loss in the third quarter of 2018 due to lower gold mining activity and lower metal prices. This is compared to a net loss of US$12 million reported in the same period last year, and with earnings of US$ 41.3 million that was recorded in the second quarter of this year.

Net sales totaled US$266.1 million in the third quarter, a year-on-year decrease of 27%, due to the decline in gold and silver prices, as well as the copper, zinc and lead produced by other affiliated mining companies.

Buenaventura has a 19.58% share in the Cerro Verde copper mine producer and owns 43.65% of the Yanacocha gold mine.