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LIMA, Peru -(MarketWatch)- One of the largest mining companies operating in northern Peru says that a 7.0-magnitude earthquake that hit Peru Wednesday didn’t interrupt operations.
Roque Benavides, chief executive of precious metals mining company Compania de Minas Buenaventura SA (BVN, BUENAVC1.Vl), said in an email message he wasn’t aware of any damage from the earthquake on its operations in northern Peru.
Buenaventura holds a 43.65% share in the Yanacocha gold mine, while Newmont Mining Corp. NEM -1.62% has a 51.35% stake.
A representative from one of Peru’s biggest base metals mining companies, Compania Minera Antamina SA, said he was unaware of any impact on operations from the quake.
The Antamina mine is in the Ancash region of central Peru. It is owned by BHP Billiton Ltd. (BHP, BHP.AU), with a 33.75% stake; Xstrata PLC (XTA.LN), with another 33.75%; Teck Resources Ltd. (TCK, TCK.A.T), with 22.5%; and Mitsubishi Corp. (MSBHY, 8058.TO) with 10%.
Barrick Gold Corp. (ABX, ABX.T) representative Andy Lloyd also said the earthquake had no impact on the company’s gold mines in Peru. “I can confirm there is no impact at Pierina or Lagunas Norte,” Lloyd said.
The U.S. Geological Survey said that the earthquake struck at 1746 GMT, and had a magnitude of 7.0, with the epicenter near the border with Brazil. The quake occurred at a depth of 145 kilometers (90.2 miles), the USGS said.
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Tectonic earthquakes occur anywhere in the earth where there is sufficient stored elastic strain energy to drive fracture propagation along a fault plane.