Compania de Minas Buenaventura S.A.A. (Buenaventura) has received the required permissions to begin its operations at the Tantahuatay gold project.
The largest publicly traded precious metals mining company in Peru said that it was going to initiate the metallurgical operations at the Tantahuatay operation as it has been granted the necessary permissions from the Energy and Mining Ministry of Peru.
Mr. Roque Benavides the Chairmand and Chief Executive Officer of Compania de Minas Buenaventura said that Buenaventura was pleased to receive the permission to initiate operations at the Tantahuatay Project. He said that they had worked hard with the local communities and Peruvian authorities to develop an operation that will contribute to the sustainable development of the surrounding communities, while adding growth to Buenaventura's future gold production.
The Tantahuatay project is managed by the Compania de Minas Buenaventura and is owned 40.09% by them. The other two partners in the venture are Southern Copper Corporation who own 44.24% of the Tantahuatay project and ESPRO, a private company, which owns 15.67% stake in the venture. Once operational the project is expected to produce an output of 100,000 ounces of gold per annum.
Buenaventura currently operates several mines in Peru such as Orcopampa, La Zanja, Uchucchacua, Antapite, Julcani and Recuperada. The company also has controlling interest in two mining companies called CEDIMIN and El Brocal, as well as a minority interest in several other mining companies in Peru. It is engaged in the mining, processing, development and exploration of gold and silver and other metals via wholly owned mines as well as through its participation in joint exploration projects.