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 1Q20 results for production and volume sold.
1Q20 Production per Metal (100% Basis)
Gold (Oz.)
January
February
March
1Q
Type of Proccesing Plant
Orcopampa
3,992
4,129
40
8,160
Flotation
Tambomayo
5,111
7,067
2,371
14,549
Flotation
La Zanja
614
1,750
932
3,297
Heap leaching
Tantahuatay
10,095
6,679
5,719
22,493
Heap leaching
Yanacocha
45,520
35,326
40,956
121,802
Heap leaching
El Brocal
1,570
1,476
1,008
4,054
Flotation
Silver (Oz.)
January
February
March
1Q
Type of Proccesing Plant
Uchucchacua
773,878
767,022
415,563
1,956,463
Flotation
El Brocal
221,958
267,914
188,195
678,067
Flotation
Tambomayo
132,079
200,105
53,347
385,532
Flotation
Julcani
217,316
219,535
113,700
550,552
Flotation
Lead (MT)
January
February
March
1Q
Type of Proccesing Plant
El Brocal
1,535
2,579
1,346
5,460
Flotation
Uchucchacua
1,044
814
414
2,273
Flotation
Tambomayo
543
443
208
1,194
Flotation
Julcani
54
59
36
149
Flotation
Zinc (MT)
January
February
March
1Q
Type of Proccesing Plant
El Brocal
5,089
5,692
4,277
15,058
Flotation
Uchucchacua
1,179
861
320
2,360
Flotation
Tambomayo
609
461
197
1,267
Flotation
Copper (MT)
January
February
March
1Q
Type of Proccesing Plant
Cerro Verde
39,195
31,497
21,519
92,211
Flotation
El Brocal
3,415
3,053
2,654
9,122
Flotation
Additional Comments
Peru’s state of emergency and related mandated lockdown began on March 16, 2020.
As was announced on March 30, 2020, Buenaventura has suspended the full year 2020 guidance provided at the Company’s March 9, 2020 Investor Day.
The Company expects to provide updated guidance on May 18, 2020 with the release of its 1Q20 Financial Results.
Buenaventura’s enhanced mine plan will target high-grade areas while maintaining a focus on exploration and cost reduction, once the Company’s mines resume production.
Mineral at Orcopampa is treated during the last two weeks of the month, aligned with the mine’s working protocol. No mineral was therefore treated during the month of March.
The Uchucchacua mine plan is designed to ramp-up production to exploit high-grade areas starting the second quarter of 2020.
1Q20 Payable Volume sold per Metal (100% basis)
1Q20 (Actual)
Gold (Oz.)
Orcopampa
9,016
Tambomayo
5,286
La Zanja
3,295
Tantahuatay
23,978
El Brocal
2,639
Silver (Oz.)
Uchucchacua
1,880,330
El Brocal
466,365
Tambomayo
110,661
Julcani
514,114
Lead (MT)
El Brocal
5,145
Uchucchacua
1,972
Tambomayo
282
Julcani
95
Zinc (MT)
El Brocal
12,438
Uchucchacua
1,874
Tambomayo
992
Copper (MT)
El Brocal
8,458
Realized Metal Prices*
Gold (Oz)
1,692
Silver (Oz)
17.16
Lead (MT)
1,653
Zinc (MT)
1,824
Copper (MT)
5,536
*Buenaventura consolidated figures
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 201* 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.
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