Deforestation rates in Peru are significantly lower than in Brazil, Ecuador or Colombia and the Andean nation has large reserves of oil, gas and minerals in its rain forests.
The company listed several factors, some of which were decreased by-product credits from lower metals prices, higher development costs in Peru, industry-wide cost pressures and the issues at Manantial Espejo.
According to the ETF Finder at ETF Channel, BVN makes up 15.25% of the iShares MSCI All Peru Capped Index Fund ETF ( AMEX: EPU )which is trading lower by about 0.4% on the day Wednesday.