Business Wire·Jul 30, 2026, 8:16 PM ET

Buenaventura Announces Second Quarter 2026 Results

BVN

Compañia de Minas Buenaventura S.A.A. reported Q2 2026 results ending June 30, 2026, with figures prepared on a non-GAAP IFRS basis in U.S. dollars.
Gold production rose 12% year-over-year driven by San Gabriel ramp-up, while consolidated silver production increased 2% due to higher output at Yumpag.
Lead production fell 19% year-over-year, zinc production declined 5%, copper production increased 2%, lead zinc, & copper production changes were attributed to lower grades at Tambomayo or stable output at El Brocal.
Q2 2026 EBITDA from direct operations reached US$277.1 million, compared to US$130.1 million in Q2 2025, with first-half 2026 EBITDA at US$663.4 million versus US$256.4 million in the prior period.
Net income for Q2 2026 was US$260.6 million compared to US$98.2 million in Q2 2025, while first-half 2026 net income totaled US$557.0 million versus US$245.2 million in 2025.
San Gabriel reported sales volumes in Q2 2026, though processing tonnage was constrained by tailings management challenges at the filtration plant.
On July 10, 2026, the Company received approval to increase the Yumpag mining rate to 1,200 tonnes per day from 1,000 tonnes per day.
Cash position stood at US$758.9 million as of June 30, 2026, with net debt of negative US$66.6 million resulting in a leverage ratio of -0.05x.
The Company reduced the Huanza financial lease balance from US$63.0 million to US$50.0 million, with amortization scheduled through 2031.
Following the quarter-end on July 24, 2026, Buenaventura received US$117.5 million in dividends from Cerro Verde, bringing year-to-date dividend receipts to US$274.1 million.
Total revenues for Q2 2026 increased 43% to US$529.0 million, while first-half revenues grew 70% to US$1,153.6 million.
A conference call to discuss these results is scheduled for Friday, July 31, 2026, at 11:00 a.m. Eastern Time.