Buenaventura reported that its San Gabriel gold operation in Moquegua, Peru, has produced its first dore bar as part of commissioning tests, marking a key milestone toward full‑scale production. The milestone was achieved in line with the company’s planned timeline and demonstrates that the critical processing equipment is operating as expected.
The company confirmed that San Gabriel is on track to reach a processing rate of 2,000 tons per day in 2026, with a nameplate capacity of 3,000 TPD. Management also reiterated guidance for 2026 of 70,000‑80,000 ounces of gold, a figure that aligns with earlier statements and signals a significant increase in the company’s gold output over the next decade.
This first dore bar validates the project’s technical feasibility and positions Buenaventura to replace output from depleting mines such as Orcopampa and Tambomayo. By bringing San Gabriel online, the company can sustain its growth trajectory and maintain its status as Peru’s leading precious‑metals producer.
The milestone also reflects the company’s disciplined execution. Management highlighted that the commissioning phase proceeded without major cost overruns or operational setbacks, underscoring strong project management and risk mitigation practices. The successful test run therefore boosts confidence in the project’s ability to deliver on its long‑term production targets.
Looking ahead, Buenaventura will focus on completing the remaining commissioning activities and securing the necessary permits for commercial production. Once full‑scale operations commence, San Gabriel is expected to contribute between 100,000 and 120,000 ounces of gold annually over a 14‑year life of mine, effectively doubling the company’s gold output and reinforcing its long‑term financial resilience.
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