Peru's Buenaventura suspends production at its Uchucchacua mine

Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here!

(Kitco News) - Compa??ia de MinasBuenaventura (NYSE: BVN), Peru's largest publicly-traded precious metals miningcompany, today announced that the company has submitted a request to thePeruvian minister for mines and energy for the temporary suspension of miningand ore processing activities at its Uchucchacua mine.

According to the company'sstatement, operations were previously suspended due to a local community strikeinitiated on September 13, 2021, announced by the Company on September 21,2021.

Buenaventura said it hasrequested an extended suspension of operations as it has identified animportant opportunity to meaningfully improve efficiency and profitability atits Uchucchacua operations.

"Mining and ore processingactivities will therefore be suspended until the company's related goals andobjectives have been fully achieved," the company added.

Temporary suspension ofoperations therefore enables the company to focus on its undergroundexploration strategy, optimizing the current reserve exploitation sequence witha gradual operations re-start.

Compa???-a de MinasBuenaventura is Peru's largest, publicly traded precious and base metals companyand a major holder of mining rights in Peru. The company is engaged in theexploration, mining development, processing and trade of gold, silver and otherbase metals via wholly-owned mines and through its participation in jointventure projects. Buenaventura currently operates several mines in Peru.

By Vladimir Basov

For Kitco News

Follow kitconewsnow vbasov@kitco.comwww.kitco.com Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

Mixed outlook for gold as it remains range bound for past three months

Gold stocks down on flat metal price

Gold stocks down on metal decline

Huge quantifiable rise in geopolitical, economic and trade risks

Platinum clearly ahead of palladium for first time in seven years