The Yanacocha gold mine in Peru is expected to produce 1.5 million ounces of gold in 2010, Compania de Minas Buenaventura SA (BVN, BUENAVC1.VL) Chief Executive Roque Benavides said.

That would be well down from the 2.0 million ounces expected to be produced at that mine in northern Peru this year.

Benavides gave the forecast on a conference call with analysts on Friday.

Yanacocha is run by Newmont Mining Corp. (NEM) with a 51.35% stake, while Compania de Minas Buenaventura holds a 43.65% share.

The International Finance Corp., a World Bank affiliate, has a 5.0% stake.

-By Robert Kozak, Dow Jones Newswires; 51-1-99927-7269; peru@dowjones.com