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Buenaventura Comments on call of the General Shareholders' Meeting
Businesswire· 2024-01-25 01:20
LIMA, Peru--(BUSINESS WIRE)--Compañia de Minas Buenaventura S.A.A. (“Buenaventura” or “the Company”) (NYSE: BVN; Lima Stock Exchange: BUE.LM), Peru’s largest publicly-traded precious metals mining company, announces that following the conversations held between representatives of the Company and Antofagasta plc (hereinafter, "Antofagasta"), the Board of Directors of the Company has agreed to call a General Shareholders' Meeting to be held on February 22, 2024, to submit for its consideration the partial ame ...
Buenaventura(BVN) - 2023 Q3 - Earnings Call Transcript
2023-10-31 21:57
Compañía de Minas Buenaventura S.A.A. (NYSE:BVN) Q3 2023 Results Conference Call October 31, 2023 11:00 AM ET Company Participants Gabriel Salas - Investor Relations Leandro Garcia - Chief Executive Officer Daniel Dominguez - Chief Financial Officer Juan Carlos Ortiz - Vice President of Operations Aldo Massa - Vice President of Business Development and Commercial Alejandro Hermoza - Vice President of Sustainability Renzo Macher - Vice President of Projects Juan Carlos Salazar - Geology and Exploration Manag ...
Buenaventura(BVN) - 2023 Q3 - Quarterly Report
2023-10-30 16:00
Financial Performance - Total revenues for Q3 2023 were $211.3 million, an 8% increase from $195.4 million in Q3 2022[11] - Net income for Q3 2023 was a loss of $28.0 million, a 42% increase in losses compared to a loss of $19.8 million in Q3 2022[11] - EBITDA including affiliates for Q3 2023 was $152.7 million, a 95% increase from $78.2 million in Q3 2022[11] - The company reported a significant increase in operating income, with a loss of $29.5 million in Q3 2023 compared to a loss of $20.0 million in Q3 2022, reflecting a 48% increase in losses[11] - The company reported a loss on currency exchange differences of 31,176 in Q3 2023, compared to 27,961 in Q3 2022, indicating increased volatility in foreign exchange[24] - Net income for 3Q23 was reported at -24,498, a decline from -22,487 in 3Q22, while year-to-date net income for 9M23 was 42,953, down from 547,593 in 9M22[24] - Total operating income for the nine-month period ended September 30, 2023, was US$570,044,000, a decrease from US$578,440,000 in the same period of 2022[76] - The company’s attributable net profit for the three-month period ended September 30, 2023, was a loss of US$28,032,000, compared to a loss of US$19,771,000 in the same period of 2022[76] Production Metrics - Gold production in Q3 2023 decreased by 27% year-on-year to 36,228 ounces, while silver production increased by 1% to 1,933,025 ounces[5] - Copper production increased by 55% year-on-year to 18,826 metric tons in Q3 2023[5] - Silver production for the first nine months of 2023 decreased by 34% to 1,317,895 ounces compared to 1,994,565 ounces in the same period of 2022[9] - 3Q23 silver production decreased by 38% year on year due to negative geology reconciliation and decreased treated ore[17] - 3Q23 silver production at El Brocal increased by 90% year on year, aligning with the planned mining sequence for 2023[18] - 3Q23 consolidated copper production increased by 18% YoY to 34,168 MT, while gold production decreased by 22% to 43,449 ounces[35] - Gold production in 3Q23 was 8,127 ounces, a decrease of 41% compared to 13,755 ounces in 2Q23, while 9M23 production was 29,623 ounces, down 29% from 41,973 ounces[47] Cost Metrics - Cost Applicable to Sales (CAS) for gold increased to $1,083 per ounce in Q3 2023, down 37% from $1,710 per ounce in Q3 2022[8] - The average gold price for direct operations in Q3 2023 was $1,921 per ounce, a 14% increase from $1,678 per ounce in Q3 2022[12] - The average silver price in Q3 2023 was $25.67 per ounce, a 48% increase from $17.33 per ounce in Q3 2022[12] - 3Q23 Cost Applicable to Sales (CAS) for silver increased by 89% year on year to 26.09 US$/Oz from 13.80 US$/Oz in 2Q22[17] - Consolidated Cost of sales, excluding depreciation and amortization for Q3 2023 was $136,195,000, an increase of 15% from $118,419,000 in Q3 2022[26] - Total Cost of sales for the first nine months of 2023 reached $342,171,000, slightly up from $337,503,000 in the same period of 2022[26] - The total cost applicable to sales for Q3 2023 was US$204.2 million, compared to US$528.6 million in Q3 2022, marking a decrease of 61.4%[61] Exploration and Capital Expenditures - Exploration expenses in units in operation for Q3 2023 amounted to $12,418,000, down from $20,708,000 in Q3 2022, representing a decrease of 40%[26] - The total exploration expenses for the first nine months of 2023 were $39,051,000, a decrease of 27% compared to $53,629,000 in the same period of 2022[26] - Capital expenditures for 3Q23 were US$ 59.8 million, up from US$ 37.2 million in Q3 2022; 9M23 capital expenditures totaled US$ 145.7 million compared to US$ 93.2 million in 9M22[33] - An additional US$ 40.0 million was invested as advance payment for equipment manufacturing related to the processing plant, which will be reclassified as CAPEX upon equipment arrival[44] Cash Flow and Liquidity - Buenaventura's cash position reached US$ 221.8 million, with net debt decreasing to US$ 493.7 million by the end of 3Q23[33] - The net cash flows from operating activities in Q3 2023 were US$88.2 million, a substantial increase from US$5.6 million in Q3 2022[67] - The company reported a total cash and cash equivalents of US$221.8 million at the end of Q3 2023, compared to US$287.9 million at the end of Q3 2022[67] - Payments to suppliers and third parties decreased to US$104.9 million in Q3 2023 from US$120.9 million in Q3 2022, a reduction of 13.0%[67] Future Outlook - The company is focusing on improving ore grades and recovery rates in future operations[22] - Future outlook includes managing business and liquidity post-COVID-19, with a focus on cost reduction and capital spending adjustments as necessary[45] - The company’s future outlook includes a focus on improving operational efficiency and exploring new market opportunities[77]
Buenaventura(BVN) - 2023 Q2 - Quarterly Report
2023-07-26 16:00
Reconciliation of Costs Applicable to Sales and Cost Applicable to Sales per Unit Sold | --- | --- | --- | --- | --- | |---------------------------------------------------------------------------------------------------|-------------|-------------|-------------|-------------| | | | | | | | U c h u c c h a c u a , S i l v e r | 7 , 4 1 3 | 5 , 8 8 3 | 1 3 , 9 3 1 | 8 , 8 1 3 | | U c h u c c h a c u a , L e a d | 0 | 7 8 | 0 | 0 | | U c h u c c h a c u a , Z i n c | 0 | 0 | 0 | 0 | | Ta m b o m a y o , G o l ...
Buenaventura(BVN) - 2022 Q4 - Annual Report
2023-04-30 16:00
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE AC ...
Buenaventura(BVN) - 2023 Q1 - Quarterly Report
2023-04-30 16:00
FORM 6-K Commission File Number 001-14370 CARLOS VILLARAN 790 SANTA CATALINA, LIMA 13, PERU (Address of principal executive offices) UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 For the month of April 2023 BUENAVENTURA MINING COMPANY INC. (Translation of registrant's name into English) Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F. Form 20-F ____X___ Form 40-F _______ Indicate by check mark if the registrant is s ...
Buenaventura(BVN) - 2023 Q1 - Earnings Call Transcript
2023-04-28 21:41
Compañía de Minas Buenaventura S.A.A. (NYSE:BVN) Q1 2023 Earnings Conference Call April 28, 2023 11:00 AM ET Company Participants Gabriel Salas - Investor Relations Leandro Garcia - Chief Executive Officer Daniel Dominguez - Chief Financial Officer Juan Carlos Ortiz - Vice President of Operations Renzo Macher - Vice President of Projects Alejandro Hermoza - Vice President of Sustainability Conference Call Participants Carlos De Alba - Morgan Stanley Tanya Jakusconek - Scotiabank Operator Good day, ladies an ...
Buenaventura(BVN) - 2022 Q4 - Earnings Call Transcript
2023-03-01 15:57
Financial Data and Key Metrics Changes - Full year 2022 net income was $602.9 million compared to a net loss of $262.8 million for the full year 2021 [6] - Fourth quarter 2022 net income reached $69 million, in contrast to a net loss of $22 million during the same period in 2021 [8] - Total revenues for the fourth quarter were $246 million, a 3% decrease compared to the fourth quarter of 2021 [23] - Full year 2022 total revenues decreased to $825 million from $901 million in 2021 [23] - EBITDA from direct operations for the fourth quarter 2022 was $66.9 million, up from $59.7 million in the fourth quarter of 2021 [21] - Full year EBITDA from direct operations reached $473.1 million, significantly higher than $200.4 million for the full year 2021 [21] Business Line Data and Key Metrics Changes - Silver attributable production for Q4 2022 was 1.7 million ounces, a 25% decrease compared to Q4 2021; full year silver production was 6.8 million ounces, down 43% from 2021 [9] - Copper attributable production for Q4 2022 was approximately 31,000 metric tonnes, with full year production at 116,000 metric tonnes, a 13% increase compared to 2021 [10] - Gold attributable production in Q4 2022 was 53,000 ounces, a 10% decrease from the previous year; however, full year gold production was 206,000 ounces, a 4% increase [24] - Lead production in Q4 2022 was around 3,000 metric tonnes, a 30% decrease compared to Q4 2021; full year lead production was approximately 15,000 metric tonnes, down from 21,000 metric tonnes in 2021 [25] - Zinc production in Q4 2022 was 5,000 metric tonnes, a 45% decrease compared to Q4 2021; full year zinc production reached 28,000 metric tonnes, a 33% decline [57] Market Data and Key Metrics Changes - The average gold price was $1,153 per ounce, a 4% decrease year-over-year; silver averaged $19.60 per ounce, a 4% increase; lead was $1,329 per metric tonne, down 10%; copper remained at $6,613 per metric tonne, unchanged from 2021; zinc cost applied to sales was $2,812 per metric tonne, a 24% increase [26] Company Strategy and Development Direction - The company plans to continue exploration related to the underground copper, gold, sulfide project while managing leaching operations at La Zanja [7] - The exploration budget for 2023 is expected to be between $80 million and $90 million, with a focus on both operating units and greenfield projects [18] - The company is working on innovative processes to enhance gold extraction from leaching pads, potentially extending profitable operations for one to two more years [43] Management's Comments on Operating Environment and Future Outlook - Management noted that social, environmental, and political challenges have not significantly impacted on-site operations, although off-site logistics faced delays [54] - The company is optimistic about its cash position, expecting dividends from Cerro Verde to support capital expenditures [32] - Management emphasized the importance of maintaining profitability in leaching operations while developing new projects [50] Other Important Information - Capital expenditures for Q4 2022 were $58.8 million, up from $32.1 million in Q4 2021; full year CapEx reached $152 million, a 68% increase from 2021 [3][56] - The company received a total dividend of $79.1 million from Cerro Verde in 2022 [49] Q&A Session Summary Question: What drove the increase in CapEx for 2023? - The increase is primarily due to the stoppage at San Gabriel and the need to continue work into 2023 [16] Question: What is the exploration budget for 2023? - The exploration budget is expected to be between $80 million and $90 million, with allocations for operating units and greenfield projects [18] Question: How will the company fund the increased CapEx? - The company plans to use $250 million in cash, expect dividends from Cerro Verde, and may raise additional funds if necessary [32] Question: What is the planned output for La Zanja in 2023? - The initial conservative budget is set at 5,000 ounces of gold, with expectations to exceed this figure [36] Question: Will the company need to sell assets to meet financial needs? - Management indicated that asset sales are not anticipated at this time [33]
Buenaventura(BVN) - 2022 Q4 - Earnings Call Presentation
2023-03-01 13:49
Greenfield Projects – San Gabriel (Au) Feasibility - Optimized Plant Layout Project Maturity Highlights GEOLOGY MINE PLANT FACILITIES ENERGY WATER INFRA LAND PERMITS SAFETY WORKFORCE SOCIAL S FS D PFS • Engineering and procurement work offsite activities progressed as planned by a significant 64% and 83%, respectively, relative to total targeted for the project completion. • This thereby reduces overall project uncertainty and potentially enabling the recovery of a portion of time lost related to this proje ...
Buenaventura(BVN) - 2022 Q4 - Annual Report
2023-02-28 16:00
Revenue and Financial Performance - Total revenues for 4Q22 were $246.4 million, a 3% decrease compared to 4Q21, while FY22 revenues were $824.8 million, an 8% decrease compared to FY21[2] - 4Q22 net sales were $246.4 million, a slight decrease from $249.7 million in 4Q21, driven by lower commodity prices and reduced sales volumes of lead, zinc, and silver, partially offset by higher copper sales[90] - Net profit for 2022 was $602.9 million, a significant improvement from a net loss of $262.8 million in 2021[179] - Gross profit for 2022 was $61.3 million, down from $87.3 million in 2021, reflecting higher costs of sales[179] - Operating income from sales of goods decreased from $863.5 million in 2021 to $801.2 million in 2022[179] - Profit attributable to owners of the parent improved significantly to $602.6 million in 2022 from a loss of $264.1 million in 2021[179] - The company reported a foreign currency exchange gain of $26.9 million in 2022, compared to a loss of $18.7 million in 2021[179] EBITDA and Net Income - EBITDA for direct operations in 4Q22 was $76.9 million, a 29% increase compared to 4Q21, and FY22 EBITDA was $473.1 million, a 132% increase compared to FY21[2] - 4Q22 EBITDA from direct operations was US$ 76.9 million, compared to US$ 59.7 million in 4Q21[119] - FY22 EBITDA from direct operations reached US$ 473.1 million, including US$ 300 million from the sale of Buenaventura's stake in Yanacocha[119] - 4Q22 net income reached US$ 68.7 million, compared to a US$ 222.3 million net loss in 4Q21[119] - FY22 net income was US$ 602.9 million, compared to a US$ 262.8 million net loss in FY21[119] Production Metrics - Gold production in 4Q22 was 12,348 ounces, a 33% decrease compared to 4Q21, while FY22 gold production was 54,320 ounces, a 22% decrease compared to FY21[5] - Silver production in 4Q22 was 463,938 ounces, a 21% decrease compared to 4Q21, while FY22 silver production was 1,863,411 ounces, a 3% increase compared to FY21[5] - Copper production at El Brocal increased by 41% year on year in 4Q22 due to higher ore grades and increased ore treated[14] - Gold production from direct operations in 4Q22 was 44,632 ounces, a 9% decrease compared to 4Q21[32] - Silver production from direct operations in 4Q22 was 1,678,051 ounces, a 25% decrease compared to 4Q21[32] - Copper production from direct operations in 4Q22 was 8,937 metric tons, a 41% increase compared to 4Q21[32] - Total gold production including associated companies in 4Q22 was 53,079 ounces, a 10% decrease compared to 4Q21[32] - Total copper production including associated companies in 4Q22 was 31,479 metric tons, a 14% increase compared to 4Q21[32] - Recovery rate in 4Q22 was 84.83%, an 18% increase compared to 4Q21[36] - Ounces produced in 4Q22 were 379,520, a 66% decrease compared to 4Q21[36] - 4Q22 equity gold production was 53,079 ounces, down from 59,033 ounces in 4Q21, while silver, lead, and zinc production decreased by 25%, 30%, and 45% year-on-year, respectively, due to prioritizing higher-margin copper production[91] - 4Q22 copper production increased by 41% year-on-year to 13,789 MT, with full-year copper production up 26% to 45,301 MT[84] - Tambomayo's gold production in FY22 increased by 49% to 74,478 ounces, while silver production surged 117% to 32,124 ounces[93] - Coimolache's silver production in FY22 decreased by 54% to 296,968 ounces compared to 647,468 ounces in FY21[95] - El Brocal's 4Q22 silver production decreased by 7% to 646,125 ounces, while full-year silver production increased by 3% to 2,640,689 ounces[97] - 4Q22 gold production increased by 23% YoY to 10,163 Oz, while silver production decreased by 39% YoY to 20,088 Oz[125] - 4Q22 copper production increased by 41% YoY to 14,548 MT, while zinc production decreased by 51% YoY to 4,037 MT[130] - 4Q22 copper production attributable to Buenaventura increased by 7% YoY to 22,543 MT, driven by a 9% increase in ore volumes and a 3% increase in copper grade[134] - Silver production at Tambomayo decreased by 21% to 463,938 ounces in Q4 2022 compared to 588,138 ounces in Q4 2021, despite a 10% increase in ore milled[161] - Marcapunta's silver production increased by 29% to 477,385 ounces in Q4 2022, driven by a 15% increase in ore milled and an 8% improvement in recovery rate[161] - Tajo Norte Cu-Ag's silver production surged by 81% to 20,863 ounces in Q4 2022, despite a 25% decrease in ore grade and a 14% drop in recovery rate[161] Production Guidance - 2023 gold production guidance is 72k – 80k ounces for Orcopampa and 60k – 65k ounces for La Zanja[7][10] - 2023 silver production guidance is 2.6M – 2.8M ounces for Julcani[13] - 2023 gold production guidance is set at 35,000–40,000 ounces, and silver production guidance is 1.9M–2.2M ounces[86] - 2023 silver production guidance for Uchucchacua is 0.7M – 1.0M ounces and for Yumpag is 1.6M – 1.8M ounces[128] Costs and Expenses - Cost applicable to sales for gold in 4Q22 was $1,704 per ounce[44] - Cost applicable to sales for silver in 4Q22 was $18.37 per ounce[44] - All-in sustaining cost for 4Q22 does not include depreciation and amortization, stoppage of mining units, and exploration in non-operating areas[52] - Consolidated cost applicable to sales for the 12 months ended December 31, 2022, was $749.2 million, a decrease from $804.441 million in 2021[61] - Exploration expenses in units in operation increased to $80.796 million in 2022, up from $56.412 million in 2021[61] - Consolidated cost of sales excluding depreciation and amortization for the 12 months ended December 31, 2022, was $465.105 million, down from $531 million in 2021[61] - Cost applicable to sales per unit sold for gold at Tambomayo was $1,355 per OZ in 2022, compared to $1,274 per OZ in 2021[63] - Cost applicable to sales for FY22 was $465.105 million, with gold contributing $153.747 million, silver $74.023 million, lead $14.559 million, zinc $48.335 million, and copper $173.798 million[68] - Exploration expenses for FY22 totaled $80.796 million, with gold accounting for $20.293 million, silver $43.337 million, lead $1.399 million, zinc $4.347 million, and copper $11.419 million[68] - Commercial deductions for FY22 amounted to $183.077 million, with gold at $16.281 million, silver $24.941 million, lead $4.317 million, zinc $29.939 million, and copper $107.599 million[68] - Selling expenses for FY22 were $20.222 million, with gold at $3.702 million, silver $5.849 million, lead $780,000, zinc $2.368 million, and copper $6.575 million[68] - Total cost applicable to sales for FY22 was $749.200 million, with gold at $194.023 million, silver $148.151 million, lead $21.056 million, zinc $84.989 million, and copper $299.390 million[68] - All-in sustaining cost for FY22 was $81.537 million, with gold at $1,525 per ounce[70] - Cost of sales for 4Q21 was $49.638 million, with gold at $1,395 per ounce[70] - Exploration expenses for 4Q21 were $9.880 million, with gold at $278 per ounce[70] - Commercial deductions for 4Q21 were $12.142 million, with gold at $341 per ounce[70] - 4Q22 copper cost applicable to sales (CAS) decreased by 12% year-on-year, and zinc CAS decreased by 49%, driven by higher head grades and improved metallurgical performance[99] - 4Q22 general and administrative expenses decreased by 8% to $17.3 million compared to $18.9 million in 4Q21[100] - 4Q22 gold production at Tambomayo decreased by 33% YoY, with Cost Applicable to Sales (CAS) increasing to 1,129 US$/Oz from 1,023 US$/Oz in 4Q21 due to lower gold grades[123] - 4Q22 gold production at Orcopampa decreased, with CAS decreasing to 919 US$/Oz from 1,023 US$/Oz in 4Q21 due to reduced sales and exploration costs[124] - 4Q22 gold production at Coimolache decreased by 14% YoY, with CAS increasing to 1,676 US$/Oz from 1,147 US$/Oz in 4Q21 due to higher sales and exploration costs[126] - 4Q22 silver production decreased by 7% YoY, with CAS decreasing by 3% to 16.05 US$/Oz from 16.52 US$/Oz in 4Q21[129] - Consolidated selling expenses for the 3 months ended December 31, 2022, were $4.732 million, compared to $6.137 million in the same period in 2021[147] - Uchucchacua's silver selling expenses for the 12 months ended December 31, 2022, were $3.393 million, a significant increase from $2.411 million in 2021[147] - Tambomayo's gold selling expenses for the 12 months ended December 31, 2022, were $2.447 million, down from $3.036 million in 2021[147] - El Brocal's copper selling expenses for the 12 months ended December 31, 2022, were $6.571 million, up from $5.572 million in 2021[147] - Cost applicable to sales (CAS) for the 12 months ended December 31, 2022, was $37.476 million, compared to $16.764 million in 2021[148] - Exploration expenses for the 12 months ended December 31, 2022, were $627,000, up from $299,000 in 2021[148] - Uchucchacua's cost applicable to sales (CAS) for the 12 months ended December 31, 2022, was $39.62 million, compared to $126.482 million in 2021[150] - All-in sustaining cost (AISC) for 4Q22 was $95.082 million, compared to $55.734 million in 4Q21[152] - Consolidated Cost of Sales (excluding depreciation and amortization) for the 3 months ended December 31, 2022, was $127.6 million, compared to $138.0 million for the same period in 2021[165] - Consolidated Cost of Sales (excluding depreciation and amortization) for the 12 months ended December 31, 2022, was $465.1 million, compared to $531.0 million for the same period in 2021[165] - Consolidated Commercial Deductions for the 3 months ended December 31, 2022, were $45.2 million, compared to $49.6 million for the same period in 2021[167] - Consolidated Commercial Deductions for the 12 months ended December 31, 2022, were $183.1 million, compared to $196.2 million for the same period in 2021[167] - All-in Sustaining Cost for FY22 was $1,416 per ounce of gold sold for Buenaventura, $2,146 per ounce for La Zanja, and $1,596 per ounce for Tantahuatay[175] - Exploration Expenses for FY22 were $60.9 million for Buenaventura, $3.2 million for La Zanja, and $9.0 million for Tantahuatay[175] - Sustaining Capex for FY22 was $8.2 million for Buenaventura, $1.3 million for La Zanja, and $14.6 million for Tantahuatay[175] - By-product Credit for FY22 was -$154.4 million for Buenaventura, -$2.4 million for La Zanja, and -$7.1 million for Tantahuatay[175] - Gold ounces sold in FY21 totaled 113,891 ounces at a cost of $1,580 per ounce, with an all-in sustaining cost of $1,532 per ounce[176] Exploration and Capital Expenditures - Exploration costs in non-operating areas were $3.2 million in 4Q22, a 20% decrease compared to 4Q21[15] - 4Q22 exploration at operating units increased to US$ 27.2 million, compared to US$ 15.5 million in 4Q21[119] - FY22 exploration at operating units increased to US$ 80.8 million, from US$ 56.4 million in FY21[119] - 4Q22 capital expenditures were US$ 69.0 million[104] - 4Q22 capital expenditures were US$ 58.8 million, compared to US$ 32.1 million in 4Q21[119] - The company expects total CAPEX to reach between US$ 350 - 370 million during 2023[120] - CAPEX guidance for San Gabriel updated to ~US$ 190.0 million by year-end 2023, primarily for underground mine development and campsite construction[133] - Payments for acquisition of property, plant, and equipment increased by 68.3% to $151.97 million in 2022 compared to $90.31 million in 2021[158] Cash and Liquidity - Buenaventura's cash position reached US$ 253.9 million as of December 31, 2022[119] - The company collected $300 million from the sale of its participation in Yanacocha and $45 million from the purchase of La Zanja shares in 2022[158] - The company's cash and cash equivalents decreased by $123.08 million in 2022, ending the year with $253.92 million compared to $376.99 million at the end of 2021[158] - Dividends received from associates decreased by 46.7% to $79.14 million in 2022 compared to $148.41 million in 2021[158] - Net cash and cash equivalents from operating activities for the twelve-month period ended December 2022 were $41.67 million, a significant improvement from a net cash outflow of $233.50 million in 2021[158] - Current assets decreased from $739.5 million in 2021 to $620.4 million in 2022, primarily due to a reduction in cash and cash equivalents from $377.0 million to $253.9 million[177] - Current liabilities decreased from $579.1 million in 2021 to $379.6 million in 2022, mainly due to a reduction in financial obligations[178] Other Financial Metrics - Total attributable copper production across all mines reached 1,951 thousand metric tons (MT), with Trapiche contributing the highest at 1,444 thousand MT[59] - Volume sold in FY22 included 168,276 ounces of gold, 7,559,712 ounces of silver, 15,843 metric tons of lead, 30,220 metric tons of zinc, and 45,276 metric tons of copper[68] - El Brocal's Copper sales for the 3 months ended December 31, 2022, were $55.6 million, a 30.4% increase from $42.7 million in the same period in 2021[165] - La Zanja's Gold sales for the 3 months ended December 31, 2022, were $16.7 million, a 21.4% increase from $13.8 million in the same period in 2021[165] - Proceeds from sales of goods and services for the three-month period ended December 2022 were $174.22 million, a decrease of 27.2% compared to $239.47 million in the same period in 2021[158] - Total equity as of December 31, 2022, was $3.162 billion, up from $2.538 billion in 2021[156] Operational Updates - Yumpag project construction and permitting are on schedule, with production expected to begin between 4Q23 and 1Q24, pending permit approval[96] - Buenaventura recorded a US$ 16.4M write-off in 4Q22 related to oxidized low-grade polymetallic sulfide ore at El Brocal[131] Forward-Looking Statements - The company's forward-looking statements highlight potential impacts of COVID-19 on operations, liquidity, and financial growth, as well