Peru's Buenaventura posts 65 pct drop in 3rd-qtr income


LIMA, Oct 30 (Reuters) - Peruvian precious metals minerBuenaventura said on Wednesday thatits net income fell 65 percent to $65.1 million in the thirdquarter from the same period a year earlier.

The company posted a 15 percent decline in net sales to$335.3 million, a drop the miner attributed to lower mineralprices.

A 28 percent decline in gold production at Yanacocha, a minein which Buenaventura owns a 43.65 percent stake, contributed toa 41 percent dip in royalty income.

Earnings before interest, taxes, depreciation andamortization, a financial indicator known as EBITDA, were down37 percent to $237.7 million. The company credited a one-timeinventory write-down and "social responsibility expenses" atYanacocha for the decline.

Buenaventura is Peru's largest publicly traded miningcompany.

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