PRECIOUS METALS

Buenaventura poised for growth following "tax break"

Peruvian miner Buenaventura is looking forward to the next stage of its development having recently gotten its balance sheet and level of indebtedness in order following a period of turbulence as a result of an unexpected November 2020 tax bill, which recently saw it sell its 43.65% stake in the Yanacocha mine in Cajamarca, to majority partner Newmont for US$300 million.

 Buenaventura's San Gabriel gold project in Moquegua, Peru

Buenaventura's San Gabriel gold project in Moquegua, Peru

The $811 million tax bill, including interest and penalties saw the company arrange a payment plan with the Sunat tax authority, take bank guarantees and raise $500 million via a bond issue in July 2021....

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