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Peru’s largest publicly traded precious metals mining company, Compañía de Minas Buenaventura S.A.A., listed on the NYSE and Lima Stock Exchange, has released its fourth-quarter 2025 production results along with its outlook for 2026.
The company produced 35,151 ounces of gold from its direct operations in Q4 2025, bringing total annual output to 121,306 ounces. Silver production reached 4,056,888 ounces for the quarter and 15,577,679 ounces for the full year.
Buenaventura’s 2026 gold production guidance from direct operations is projected at 133,000–153,000 ounces, indicating potential growth compared with 2025 levels. Meanwhile, silver output is expected to range between 13.4 million and 15.0 million ounces.
A new operation, San Gabriel, is anticipated to make a significant contribution to gold production in 2026, with guidance set at 48,000–55,000 ounces. The company confirmed that construction and mine development enabling commercial production have been completed, with commissioning of remaining components underway in the first quarter of 2026.
At Tambomayo, throughput is expected to decline by about 65% in 2026 due to lower grades of gold, silver, lead, and zinc as mining progresses into lower-grade zones.
Coimolache is forecast to see increased gold output in 2026, marking its first full year operating at full capacity following permit approvals.
Processing capacity at Uchucchacua is projected to expand to 2,500 tons per day by the end of 2026, up from the current 2,000 tons per day, supporting higher production of silver, lead, and zinc.
For Q4 2025, Buenaventura reported average realized prices of $4,214 per ounce for gold, $58.55 per ounce for silver, and $11,241 per metric ton for copper.