Peru's Yanacocha Gold Mill Enters Commercial Production
Dow Jones

LIMA -(Dow Jones)- Minera Yanacocha SRL said that its gold mill started commercial production and produced 77,416 ounces of gold in the April to June period.

The company produced 442,000 ounces of gold in the second quarter, compared with 303,000 ounces in the same period a year earlier, it told the Peruvian regulatory agency late Wednesday.

That was mainly due to an increase of tons placed on leaching pads, and to higher grade ore, among other factors.

The company added that it expected sales to remain "between 1.7 and 1.8 million ounces for 2008 mainly to the ending of construction of the gold mill, which offset lower production on the leaching pads."

Latin America's largest gold mine, Yanacocha is run by Newmont Mining Corp., (NEM) with a 51.35% stake, while Compania de Minas Buenaventura SAA (BVN) holds a 43.65% share. The International Finance Corp. holds a 5.0% stake.

-Robert Kozak, Dow Jones Newswires; 511 211 2652;

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  07-31-08 1505ET
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