Threats from community leaders over compensation for Buenaventura's use of land for the long-running silver, lead and zinc underground mine had resulted in a work stoppage on October 31.

Last week, Buenaventura said members of the Oyon community had "adopted a more aggressive negotiating position" which did not acknowledge an agreement established between the company and Oyon in the 1970s.

A taskforce, including representatives from the prime minister's office, was set up on November 3 to end the conflict and resume negotiations, and had success with Buenaventura saying normal operations resuming the following day.

"The Oyon community has therefore honoured its commitment to remove its roadblock, which was preventing Buenaventura's team from entering the Uchucchacua mine site," the company said earlier this week.   

Peru became the leading Latin American destination for mining investment in February's Fraser Institute report and the government has said it would not be complacent, acknowledging there was "still a lot of work to do" over how mining activities related with local communities.

The mine was integral to Buenaventura's third quarter results, with the company - the first Latin American miner to list on the New York Stock Exchange - reporting EBITDA from direct operations of US$118.4 million, a 41% increase on the 2016 third quarter.

This was due in part to higher lead and zinc prices and increased production of both from Uchucchacua, up 59% and 99% respectively.