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Buenaventura Announces Second Quarter 2020 Production Results

20.07.2020  |  Business Wire

Compañia de Minas Buenaventura S.A.A. (“Buenaventura” or “the Company”) (NYSE: BVN; Lima Stock Exchange: BUE.LM), Peru’s largest publicly-traded precious metals mining company, today announced 2Q20 results for production and volume sold.

In order to ensure transparency in light of uncertainties associated with the current operating environment, Buenaventura will be releasing its production data on a monthly basis until greater production continuity and visibility is possible.

2Q20 Production per Metal
(100% Basis)

Phase 1
Tambomayo Jan Feb Mar 1Q Apr May Jun 2Q

6M20

Au [Oz]

5,111

7,067

2,371

14,549

2,804

6,162

8,155

17,121

31,670

Ag [Oz]

132,079

200,105

53,347

385,532

99,322

151,018

159,670

410,010

795,541

Pb [MT]

543

443

208

1,194

213

351

626

1,190

2,384

Zn [MT]

609

461

197

1,267

182

243

405

831

2,098

Uchucchacua Jan Feb Mar 1Q Apr May Jun 2Q

6M20

Ag [Oz]

773,878

767,022

415,563

1,956,463

0

451,825

527,183

979,008

2,935,471

Pb [MT]

1,044

814

414

2,273

0

245

508

753

3,026

Zn [MT]

1,179

861

320

2,360

0

107

355

462

2,822

El Brocal Jan Feb Mar 1Q Apr May Jun 2Q

6M20

Au [Oz]

1,570

1,476

1,008

4,054

0

0

1,049

1,049

5,103

Ag [Oz]

221,958

267,914

188,195

678,067

0

0

248,693

248,693

926,761

Pb [MT]

1,535

2,579

1,346

5,460

0

0

2,188

2,188

7,648

Zn [MT]

5,089

5,692

4,277

15,058

0

0

4,385

4,385

19,442

Cu [MT]

3,415

3,053

2,654

9,122

0

0

3,045

3,045

12,167

Coimolache Jan Feb Mar 1Q Apr May Jun 2Q

6M20

Au [Oz]

10,095

6,679

5,719

22,493

4,635

3,532

5,385

13,551

36,044

Phase 2
Julcani Jan Feb Mar 1Q Apr May Jun 2Q

6M20

Ag [Oz]

217,316

219,535

113,700

550,552

249

0

135,928

136,177

686,729

Pb [MT]

54

59

36

149

0

0

29

29

178

Orcopampa Jan Feb Mar 1Q Apr May Jun 2Q

6M20

Au [Oz]

3,992

4,129

40

8,160

0

0

7,612

7,612

15,773

La Zanja Jan Feb Mar 1Q Apr May Jun 2Q

6M20

Au [Oz]

614

1,750

932

3,297

0

1,779

1,249

3,028

6,325

*Silver guidance expressed in millions and gold, Copper, Lead and Zinc guidance expressed in thousands.
**Guidance is subject to continuous review based on the possible disruptions related to COVID-19 (increase of cases at our operations, new government regulations and social disruptions).
Yanacocha Production
Jan Feb Mar 1Q Apr May Jun 2Q

6M20

Au [Oz]

45,520

35,326

40,956

121,802

21,680

17,070

29,078

67,827

189,629

Phase 1

  • Tambomayo
    • Total workforce (approx.): 700
    • All workers remain within operations footprint
    • Operation isolated from communities
    • COVID-19 mortality rate at regional level per millions of people*: 324 vs 381 (national average)
  • Uchucchacua
    • Total workforce (approx.): 1,800
    • All workers remain within operations footprint
    • Operation isolated from communities
    • COVID-19 mortality rate at regional level per millions of people*: 553 vs 381 (national average)
  • El Brocal
    • Total workforce (approx.): 2,000
    • Workers partially accommodated within operational footprint
    • Communities located near the operation
    • COVID-19 mortality rate at regional level per millions of people*: 118 vs 381 (national average)
  • Coimolache:
    • Total workforce (approx.): 1,200
    • All workers remain within operations footprint
    • Operation isolated from communities
    • COVID-19 mortality rate at regional level per millions of people*: 93 vs 381 (national average)

Phase 2

  • Julcani:
    • Total workforce (approx.): 950
    • Workers partially accommodated within operations footprint
    • Communities located near the operation
    • COVID-19 mortality rate at regional level per millions of people*: 65 vs 381 (national average)
  • Orcopampa:
    • Total workforce (approx.): 800
    • Workers partially accommodated within operations footprint
    • Communities located near the operation
    • COVID-19 mortality rate at regional level per millions of people*: 324 vs 381 (national average)
  • La Zanja:
    • Total workforce (approx.): 750
    • All workers remain within operations footprint
    • Isolated from communities
    • COVID-19 mortality rate at regional level per millions of people*: 93 vs 381 (national average)

*Source: Macroconsult Daily Bulletin “Covid-19 and the economy” 07/15/2020

2Q20 Payable Volume sold per Metal (100% basis)
1Q20
(Actual)
2Q20
(Actual)
1H20
(Actual)
Gold (Oz.)
Orcopampa

9,016

3,675

12,690

Tambomayo

5,286

16,499

21,785

La Zanja

3,295

4,032

7,327

Coimolache

23,978

14,549

38,528

El Brocal

2,639

633

3,272

Silver (Oz.)
Uchucchacua

1,880,330

644,014

2,524,344

El Brocal

466,365

187,339

653,704

Tambomayo

110,661

487,028

597,690

Julcani

514,114

119,531

633,645

Lead (MT)
El Brocal

5,145

1,888

7,033

Uchucchacua

1,972

403

2,375

Tambomayo

282

1,547

1,828

Julcani

95

25

121

Zinc (MT)
El Brocal

12,438

3,575

16,013

Uchucchacua

1,874

366

2,240

Tambomayo

992

810

1,802

Copper (MT)
El Brocal

8,458

2,758

11,217

Realized Metal Prices*
Gold (Oz)

1,692

1,775

1,738

Silver (Oz)

17.16

16.67

17.00

Lead (MT)

1,653

1,460

1,587

Zinc (MT)

1,824

1,112

1,655

Copper (MT)

5,536

5,085

5,425

*Buenaventura consolidated figures

Compañía de Minas Buenaventura S.A.A.

Company Description

Compañía de Minas Buenaventura S.A.A. is Peru’s largest, publicly traded precious and base metals Company and a major holder of mining rights in Peru. The Company is engaged in the exploration, mining development, processing and trade of gold, silver and other base metals via wholly-owned mines and through its participation in joint venture projects. Buenaventura currently operates several mines in Peru (Orcopampa*, Uchucchacua* , Julcani*, Tambomayo*, El Brocal, La Zanja and Coimolache).

The Company owns 43.65% of Minera Yanacocha S.R.L (a partnership with Newmont Mining Corporation & Sumitomo Corporation), an important precious metal producer and 19.58% of Sociedad Minera Cerro Verde, an important Peruvian copper producer (a partnership with Freeport-McMorRan Inc., Sumitomo Corporation & Sumitomo Metals).

For a printed version of the Company’s 2019 Form 20-F, please contact the persons indicated above, or download a PDF format file from the Company’s web site. (*) Operations wholly owned by Buenaventura

Note on Forward-Looking Statements

This press release may contain forward-looking information (as defined in the U.S. Private Securities Litigation Reform Act of 1995) that involve risks and uncertainties, including those concerning the Company’s, Yanacocha’s and Cerro Verde’s costs and expenses, results of exploration, the continued improving efficiency of operations, prevailing market prices of gold, silver, copper and other metals mined, the success of joint ventures, estimates of future explorations, development and production, subsidiaries’ plans for capital expenditures, estimates of reserves and Peruvian political, economic, social and legal developments. These forward-looking statements reflect the Company’s view with respect to the Company’s, Yanacocha’s and Cerro Verde’s future financial performance. Actual results could differ materially from those projected in the forward-looking statements as a result of a variety of factors discussed elsewhere in this Press Release.



Contact

Contacts in Lima:
Leandro García, Chief Financial Officer
(511) 419 2540


Rodrigo Echecopar, Head of Investor Relations
(511) 419 2591 / rodrigo.echecopar@buenaventura.pe

Contacts in NY:
Barbara Cano
(646) 452 2334
barbara@inspirgroup.com


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