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Press release content from Business Wire. The AP news staff was not involved in its creation.

Buenaventura Announces First Quarter 2021 Production and Volume Sold Per Metal Results

April 15, 2021 GMT

LIMA, Peru--(BUSINESS WIRE)--Apr 15, 2021--

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 1Q21 production and volume sold.

1Q21 Production per Metal
(100% basis) (1) (2)

 

 

1Q21
(Actual)

2021
Guidance

 

 

 

Gold (Oz.)

 

 

Orcopampa

5,986

 

40k - 45k

Tambomayo

15,347

 

69k - 75k

La Zanja

3,908

 

12k - 15k

Coimolache

26,133

 

99k - 106k

Yanacocha

62,125

 

315k (3)

El Brocal

3,067

 

20k - 25k

 

 

 

 

Silver (Oz.)

 

 

 

Uchucchacua

1,243,916

 

8.0M - 9.0M

El Brocal

1,574,305

 

5.4M - 6.0M

Tambomayo

284,677

 

1.2M - 1.4M

Julcani

648,854

 

2.1M - 2.4M

 

 

 

 

Lead (MT)

 

 

 

El Brocal

2,397

 

12.0k - 16.0k

Uchucchacua

1,292

 

7.0k - 10.0k

Tambomayo

1,504

 

5.9k - 6.5k

 

 

 

 

Zinc (MT)

 

 

 

El Brocal

10,207

 

47.0k - 52.0k

Uchucchacua

1,246

 

7.0k - 10.0k

Tambomayo

1,821

 

6.9k - 7.5k

 

 

 

Copper (MT)

 

 

 

El Brocal

7,687

 

37.0k - 42.0k

1. Above 2021 projections are considered forward-looking statements and represent management’s good faith estimates or expectations of future production results as of April 2021.

2. Updated guidance could potentially be adversely impacted due to further effects related to COVID-19.

3. As announced by Newmont on February 18, 2021.

Additional Comments

  • Tambomayo:

    1Q21 gold production was below expectation due to continued Covid-19 related personnel restrictions resulting in less ore treated, as well as longer than expected maintenance works during the month of February. This was partially offset by higher gold grade mined during the quarter. 2021 guidance remains unchanged in light of a careful review of the Company’s short-term mining plan designed to accelerate mining in high grade areas during the year.

    1Q21 silver production was above projections for the quarter due to higher silver grades. 2021 guidance remains unchanged.

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  • Orcopampa:

    1Q21 gold production was below expectations due to less ore treated resulting from Covid-19 related personnel restrictions. Additional staff and resources will be allocated to expedite production for the balance the year. 2021 guidance remains unchanged.

  • Coimolache:

    1Q21 gold production was in line with expectations. 2021 guidance remains unchanged.

  • La Zanja:

    1Q21 gold production was in line with expectations. 2021 guidance remains unchanged.

  • Julcani:

    1Q21 silver production was in line with expectations. 2021 guidance remains unchanged.

  • Uchucchacua:

    1Q21 silver, lead and zinc production was below expectations due to lower production resulting from underground mine development delays, specifically delayed mine ramp-up. This was partially offset by 4.25 Oz Ag/MT in reprocessed tailings.

  • El Brocal:

    Marcapunta’s copper production was above expectations with increased ore treated during the quarter due to the 2021 re-scheduled open pit production mining sequence, enabling Cu-ore production in Q1. 2021 guidance remains unchanged.

    Tajo Norte’s zinc production was below expectations due to polymetallic-ore production re-scheduled until later in the year. 2021 guidance remains unchanged.

1Q21 Payable Volume Sold

1Q21 Payable Volume sold
per Metal (100% basis)

 

1Q21 (Actual)

 

 

Gold (Oz.)

 

Orcopampa

5,698

Tambomayo

14,631

La Zanja

3,897

Coimolache

28,094

El Brocal

1,951

 

 

Silver (Oz.)

 

Uchucchacua

1,029,816

El Brocal

1,244,168

Tambomayo

257,290

Julcani

614,164

 

 

Lead (MT)

 

El Brocal

2,239

Uchucchacua

1,014

Tambomayo

1,440

Julcani

113

 

 

Zinc (MT)

 

El Brocal

8,491

Uchucchacua

914

Tambomayo

1,401

 

 

Copper (MT)

 

El Brocal

7,536

 

Realized Metal Prices*

 

 

Gold (Oz)

1,726

Silver (Oz)

26.98

Lead (MT)

2,129

Zinc (MT)

3,220

Copper (MT)

8,994

 

 

*Buenaventura consolidated figures

Company Description

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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 2018 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.

View source version on businesswire.com:https://www.businesswire.com/news/home/20210415006115/en/

CONTACT: Contacts in Lima:

Daniel Dominguez, Chief Financial Officer

(511) 419 2540

Rodrigo Echecopar, Head of Investor Relations

(511) 419 2591 /rodrigo.echecopar@buenaventura.pe

Company Website:www.buenaventura.com.pe/ir

Contacts in NY:

Barbara Cano

(646) 452 2334

barbara@inspirgroup.com

KEYWORD: PERU UNITED STATES SOUTH AMERICA NORTH AMERICA

INDUSTRY KEYWORD: MINING/MINERALS NATURAL RESOURCES

SOURCE: Compañia de Minas Buenaventura S.A.A.

Copyright Business Wire 2021.

PUB: 04/15/2021 07:08 PM/DISC: 04/15/2021 07:08 PM

http://www.businesswire.com/news/home/20210415006115/en