Peru's Buenaventura sees '08 output up

By Teresa Cespedes and Dana Ford

LIMA (Reuters) - Peruvian miner Buenaventura (BUEv.LM: Quote, Profile, Research, Stock Buzz)(BVN.N: Quote, Profile, Research, Stock Buzz) said on Wednesday two of its gold projects face community opposition, but that 2008 will be a record-setting year for its main silver and gold mines.

Silver output at its Uchucchacua mine should increase to 12 million ounces in 2008 from 9.9 million ounces in 2007, said Buenaventura Chief Executive Roque Benavides.

He said gold output at its Orcopampa mine will rise to 300,000 ounces in 2008 from 267,935 ounces in 2007.

"Both will have record productions this year," said Benavides, speaking at the Reuters Latin America Investment Summit in Lima, Peru.

He said gold output at its Antapite mine should fall to 70,000 ounces in 2008 from 72,171 ounces in 2007 because of problems replacing reserves.

Besides its direct operations, Buenaventura has minority stakes in Yanacocha, Latin America's largest gold mine and Cerro Verde, a large copper pit.

Copper output at Cerro Verde (CVE.LM: Quote, Profile, Research, Stock Buzz) in 2008 should grow to 300,000 tonnes from 269,537 tonnes in 2007, said Benavides, who acknowledged community opposition could cause delays at the company's gold projects, Tantahuatay and La Zanja.

"I think communities have become quite militant. That is obvious. That is happening all over Peru," said Benavides, adding that if Buenaventura had an "open road," production at the gold projects would start before the end of 2008.  Continued...