Buenaventura (NYSE: BVN) announced on Monday that its El Brocal processing plant has resumed operations following a three-week suspension, during which it accumulated approximately 220,000 tonnes of copper ore.
On May 22, the Peruvian mining group halted ore treatment operations at El Brocal after a group of Huaraucaca community members residing near the facility entered the property without company authorization.
The El Brocal facilities are used to treat ores from the company’s Marcapunta underground and Tajo Norte open pit mines in the district of Colquijirca, Pasco province. It has a total capacity of 20,000 tonnes per day.
In 2024, El Brocal is forecast to produce 17,000-20,000 oz. of gold, 1.4-1.7 million oz. of silver, 13,000-15,000 tonnes of lead, 3,100-3,500 tonnes of zinc and 55,000-60,000 tonnes of zinc.
Following discussions between Huaraucaca community leaders and Buenaventura representatives, an agreement has now been reached to end the blockade and lift the suspension. Ore processing is expected to ramp up to a rate of 15,000 tonnes per day to recover the lost production.
The dialogue was also facilitated by officials from Peru’s Ministry of Energy and Mines, who have reviewed and addressed overall compliance with commitments between both parties, Buenaventura said.
Despite the suspension, the company said it still expects to achieve its budgeted production in the third quarter and its full year production guidance.
