UPDATE 1-Buenaventura's net income rose 22 pct on copper and silver sales

miércoles 30 de julio de 2014 19:38 GYT
 

(Adds details on second-quarter results)

LIMA, July 30 (Reuters) - Peruvian miner Buenaventura said on Wednesday that its net income jumped 22 percent to 9 cents per share in the second quarter from the same period in 2013 on stronger silver and copper sales.

The $23.1 million result for the second quarter came in below the $49.85 million average estimate of two analysts, according to Thomson Reuters I/B/E/S.

The company said in a statement that its copper sales more than doubled on higher volumes from its El Brocal copper mine, and silver sales rose 9 percent on output from its Uchucchacua mine.

The positive results for the April-through-June period followed two straight quarterly losses.

However, Buenaventura's 43.7 percent stake in the aging Yanacocha gold mine represented a $12.9 million loss in the second quarter, leading its earnings before interest, taxes, depreciation and amortization for all of its operations to fall 27 percent.

The company said its gold output slipped 4 percent in the second quarter on the year.

Buenaventura is the biggest precious metals miner in Peru.

(Reporting by Mitra Taj; Editing by David Gregorio and Andrew Hay)