December 21, 2014 12:59 PM ET

Metals and Mining

Company Overview of Compañía Minera Milpo SAA

Company Overview

Compañía Minera Milpo S.A.A. is engaged in the exploration and development of mineral properties. It primarily explores for copper, zinc, lead, silver, and gold. The company's primary mining units include El Porvenir, an underground mine located in the province of Cerro de Pascoin; Atacocha mine located in the province of Cerro de Pasco; Cerro Lindo located in the province of Chincha in Peru. It also holds interests exploration projects, including the Pukaqaqa project located in Huancavelica; the Hilarion project located in the Ancash region; and the Magistral project located to the northeast of Lima. The company was founded in 1949 and is based in Lima, Peru.

Avenida San Borja Norte 523

San Borja

Lima,  41

Peru

Founded in 1949

Phone:

51 1 710 5500

Key Executives for Compañía Minera Milpo SAA

Compañía Minera Milpo SAA does not have any Key Executives recorded.

Compañía Minera Milpo SAA Key Developments

Compañía Minera Milpo SAA Reports Unaudited Consolidated Earnings and Production Results for the Third Quarter and Nine Months Ended September 30, 2014

Compañía Minera Milpo SAA reported unaudited consolidated earnings and production results for the third quarter and nine months ended September 30, 2014. For the nine months, revenues were $577.3 million against $535 million last year. Operating profit was $151.2 million against $102 million last year. Profit before income tax was $138.7 million against $91.3 million last year. Profit attributable to controlling interest was $86.1 million against $52.4 million last year. Net cash generated from operating activities was $156.8 million against $134.4 million last year. Purchase of property, plant and equipment was $40.3 million against $48.0 million last year. EBITDA was $211.3 million against $192.1 million last year. CAPEX was $39.3 million against $69.1 million last year. For the quarter, revenues were $200 million against $182.2 million last year. EBITDA was $66.7 million against $65.7 million last year. This better result is due to higher revenues related to the increase in the production of zinc, copper and lead concentrates. Net profit was $24.9 million against $19.6 million last year. CAPEX was $11.4 million against $17.2 million last year. The results reflect the effectiveness of Milpo's strategy to increase production and focus on the most profitable operating units. Operational profit was $43.8 million against $32.9 million last year. For the quarter, treated ore production was 2,512,315 tonnes against 2,350,450 tonnes last year. Zinc concentrate production was 129,314 tonnes against 123,737 tonnes last year. Copper concentrate production was 40,612 tonnes against 35,562 tonnes last year. Lead concentrate production was 18,401 tonnes against 15,794 tonnes last year. Silver content production was 1,677,280 oz against 1,619,347 oz last year. For the nine months, treated ore production was 7,046,658 tonnes against 6,503,348 tonnes last year. Zinc concentrate production was 367,794 tonnes against 357,444 tonnes last year. Copper concentrate production was 117,423 tonnes against 104,558 tonnes last year. Lead concentrate production was 51,864 tonnes against 42,698 tonnes last year. Silver content production was 5,061,438 oz against 4,514,487 oz last year.

Compañía Minera Milpo SAA, Q3 2014 Earnings Call, Nov 18, 2014

Compañía Minera Milpo SAA, Q3 2014 Earnings Call, Nov 18, 2014

Milpo Seeks to Deepen El Porvenir, Atacocha Zinc-Lead Mines

Votorantim Metais unit Milpo announced that it plans to deepen operations at its El Porvenir and Atacocha underground zinc-lead mines in Peru by 2016. The company is looking to extend operations at El Porvenir in Pasco region in the central Andes to a depth of 1,600m, and add tunnels at the neighboring Atacocha unit. The company is working on a study to increase treatment capacity at its Cerro Lindo mine, currently operating at 15,000t/d, to 18,000t/d. Milpo aims to complete pre-feasibility studies by early 2015 for its Magistral copper and Pukaqaqa copper-gold projects, which may produce 30,000t/d copper.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
October 31, 2014
Aripuaná and Bongará
 

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