Peru Earthquake Has Minimal Impact on Mining Operations

Strategic Insights -

A 7.0-magnitude earthquake hit Peru on Wednesday, but major mining operations in the country have reported no disruption. Compania de Minas Buenaventura SA, one of the largest mining companies in northern Peru, claimed that its operations were unaffected by the quake. Buenaventura holds a significant stake in the Yanacocha gold mine, while another major mining company, Compania Minera Antamina SA, reported no impact on its operations in the Ancash region.

Key Takeaways:

  • The earthquake had a magnitude of 7.0 and occurred at a depth of 145 kilometers, according to the US Geological Survey.
  • Buenaventura CEO Roque Benavides stated that the company's operations in northern Peru were not interrupted by the earthquake.
  • Barrick Gold Corp. representative Andy Lloyd confirmed that the company's gold mines in Peru, including Pierina and Lagunas Norte, were not affected by the earthquake.
  • Compania Minera Antamina SA reported no impact on its operations in the Ancash region.
  • The Antamina mine is owned by a consortium of major mining companies, including BHP Billiton, Xstrata, Teck Resources, and Mitsubishi.

Statistics:

  • The earthquake had a magnitude of 7.0.
  • The earthquake occurred at a depth of 145 kilometers.
  • Buenaventura holds a 43.65% share in the Yanacocha gold mine.
  • Newmont Mining Corp. has a 51.35% stake in the Yanacocha gold mine.
  • Compania Minera Antamina SA is owned by BHP Billiton (33.75%), Xstrata (33.75%), Teck Resources (22.5%), and Mitsubishi (10%).

Sources:

  • (Dow Jones Commodities News via Comtex)
  • Dow Jones Newswires;
  • Compania de Minas Buenaventura SA
  • Barrick Gold Corp.