Buenaventura Mining Company's revenue increased 25.7% between April and June 2018, mainly underpinned by greater dynamism at Cerro Verde mine, which achieved a profitability of 80.9% in the same period, Credicorp Capital informed Friday.
According to the organization, the Cost of Goods Sold (COGS) rose 19.7% due to an increase in volume sold.
Likewise, incomes for stockholders amounted to US$39 million —higher than the figure recorded in the similar term last year (-US$6.2 million)— driven by Cerro Verde's solid net income.
On the other hand, the income generated from stockholders’ shares went up from -US$3.1 million (Apr-Jun 2017) to US$34.2 million (Apr-Jun 2018).
Other mines
It must be noted Tambomayo, Orcopampa, and Uchucchacua projects are moving forward. Yet, those results will not be reflected in this year's reports.
Moreover,
Cerro Verde recorded a net profit of US$188.9 million (+80.9%) in the analyzed period.
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