Buenaventura disclosed its fourth‑quarter 2025 production and volume‑sold figures on February 17, 2026, detailing output of gold, silver, lead, zinc, and copper across its operating mines, including El Brocal, Orcopampa, Tambomayo, Julcani, La Zanja, and San Gabriel.
The company reported that several mines exceeded their 2025 guidance, notably Orcopampa and Coimolache for gold, thanks to higher grades and improved processing. In contrast, Tambomayo is expected to see a decline in 2026 due to lower grades and reduced throughput, while El Brocal’s copper production fell short of revised guidance because of delays in mine development.
San Gabriel, Buenaventura’s first underground mine in Moquegua, produced its first doré bar in December 2025 but did not reach commercial production in 2025 because of permitting delays. Construction and mine‑development activities were completed, and commissioning is underway in the first quarter of 2026, with 2026 guidance of 48,000–55,000 ounces of gold.
The company also provided 2026 production guidance: gold 133,000–153,000 ounces for direct operations and 163,300–186,500 ounces including associated operations; silver 13.4–15.0 million ounces; copper expected to remain broadly consistent with 2025 levels; and Uchucchacua processing capacity projected to increase to 2,500 tonnes per day by year‑end 2026.
While the release focused on production, Buenaventura’s Q4 2025 financial results were not disclosed in this announcement. Prior quarter data show Q3 2025 net income of $179.0 million versus $236.9 million in Q3 2024, and Q4 2024 net income of $33.6 million versus a loss of $9.8 million in Q4 2023.
CEO Leandro García previously noted that the company is awaiting its final operating license while continuing construction at an optimal pace, indicating confidence in the project timeline despite regulatory processes.
The production data provide investors with a clearer view of Buenaventura’s operational momentum, especially as the company transitions to owner‑operated mines and expands copper concentrate operations.
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