Buenaventura posts 2nd-quarter loss on lower silver, gold prices
LIMA, July 30 (Reuters) - Peruvian precious metals miner Buenaventura reported a second-quarter net loss of $18.7 million on Thursday due to a drop in sales in the wake of lower global gold and silver prices.
The loss at Buenaventura, Peru's biggest publicly traded precious metals miner, compares with a profit of $23.1 million in the same period a year ago.
Sales fell 25.2 percent on the year in the April to June period to $171.3 million as the price of gold and silver slid 6.8 percent and 18.0 percent, respectively, on average.
Buenaventura owns a 43.7 percent stake in the country's Yanacocha gold mine and a 19 percent stake in the Cerro Verde copper-molybdenum mine, as well as its own, smaller mines.
Peru is the world's third biggest copper, silver, zinc and tin producer and the seventh-ranked gold producer. (Reporting by Marco Aquino in Lima; Writing by Sarah Marsh; Editing by Leslie Adler)
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