Compañía 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 preliminary 3Q18 production and volume sold results as
well as full year 2018 operating guidance (100% basis).
3Q18 Production per Metal and 2018 Operating Guidance (100%
basis)
1Q18(Actual)
2Q18(Actual)
3Q18(Actual)
9M18(Actual)
2018(Estimated)
Gold
(Oz.)
Orcopampa 39,987 35,694 26,835 102,516 120k - 140k
Tambomayo 33,693 31,173 33,279 98,145 125k - 135k
La
Zanja 17,722 15,660 18,147 51,529 70k - 80k
Tantahuatay
29,915 39,557 54,011 123,484 160k - 180k
Yanacocha 104,233
115,342 153,523 373,098 470k - 545k
El Brocal
7,029 5,924 4,364
17,317 20k - 25k
Silver (Oz.)
Uchucchacua
4,413,249 4,005,948 3,744,036 12,163,232 15.0M - 17.0M
Julcani 504,155 620,276 692,728 1,817,159 2.3M - 2.5M
Mallay 155,000 134,936 126,476 416,411 0.4M - 0.5M
Tambomayo 1,019,915 1,106,694 929,949 3,056,558 3.5M - 4.5M
El Brocal 739,454 967,763
1,260,010 2,967,226 4.6M
- 5.0M
Lead (MT)
Julcani 283 231 270 784 1.0k - 2.0k
Uchucchacua 4,184 4,762 5,214 14,161 18.0k - 20.0k
Mallay 504 447 416 1,367 0.5k - 2.5k
Tambomayo 856
814 1,027 2,697 3.0k - 4.5k
El Brocal
3,737 4,700 6,784 15,222
20.0k - 30.0k
Zinc (MT)
El Brocal 13,797 12,353
9,741 35,892 45k - 55k
Uchucchacua 4,575 4,842 6,556 15,974
20.0k - 22.0k
Mallay 952 1,187 905 3,044 3.0k - 3.6k
Tambomayo 2,562 1,998
2,046 6,606 7.5k - 8.5k
Copper (MT)
El Brocal 10,482
11,173 12,483 34,139 45K
- 55K
Production Comments
Gold Operations
- Orcopampa:Production is in line
with guidance released in 2Q18. The plan is based on the Company’s
strategy to prioritize its De-bottlenecking Program over ore
mineral extraction, in order to centralize the underground
operation.
- Tambomayo:2018 gold, silver and
zinc production guidance has been increased due to the fact that
Tambomayo is now operating at full capacity and it is processing
more ore at a level that is exceeding initial estimates.
- La Zanja:2018 guidance remains
unchanged despite a change in mining contractor during 2Q18.
- Tantahuatay:2018 guidance
remains unchanged.
Silver Operations
- Uchucchacua:Guidance for silver
production has been reduced while zinc production guidance has been
increased. The plan is to extract more mineral from the Cachipampa
area which has higher zinc and lower silver grades than the rest of
the mine but is lower cost due to its proximity to underground
facilities.
- Julcani:2018 guidance has been
increased. The Company’s strategy to centralize this operation is
achieving results that are exceeding initial estimates.
- Mallay:2018 guidance has been
maintained. Centralizing and halting the deepening of the mine has
achieved positive results.
Base Metals Operations
- El Brocal:Copper guidance has
been maintained for the underground mine.Lead guidance has been
reduced due to the mining sequence in the open pit. Lead grades are
expected to increase in 1Q19.
Volume Sold
3Q18 Volume sold per Metal (100% basis)
1Q18(Actual)
2Q18(Actual)
3Q18(Actual)
9M18(Actual)
Gold (Oz.)
Orcopampa 40,015 35,155 28,144 103,314
Tambomayo 30,698 30,721 32,101 93,520
La Zanja 18,222
17,495 18,419 54,136
Tantahuatay 27,957 38,599 53,859
120,415
El Brocal 5,102
4,029 2,685 11,815
Silver
(Oz.)
Uchucchacua 3,853,518
4,125,034 3,515,670 11,494,222
Julcani 352,236 741,469
639,454 1,733,159
Mallay 136,838 123,609 101,118 361,565
Tambomayo 837,123 1,143,540 926,741 2,907,404
El
Brocal 536,585 774,576
974,775 2,285,936
Lead
(MT)
Julcani 169 275 235 678
Uchucchacua 3,434 4,387 4,697 12,518
Mallay 440 434
371 1,245
Tambomayo 528 1,025 1,006 2,560
El Brocal
3,339 4,490 5,636
13,465
Zinc (MT)
El Brocal 11,354 10,383 7,712 29,450
Uchucchacua 3,802 3,783 4,898 12,483
Mallay 733 986
720 2,438
Tambomayo 1,672
1,871 1,830 5,374
Copper
(MT)
El Brocal
9,854 10,517 11,816
32,187
Company DescriptionCompañía 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*,
Mallay*, 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), an important precious metal
producer and 19.58% of Sociedad Minera Cerro Verde, an important
Peruvian copper producer.
For a printed version of the Company’s 2017 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 StatementsThis 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/20181009005651/en/
For Compañía de Minas Buenaventura S.A.A.In Lima:Leandro Garcia,
511-419-2540Chief Financial OfficerorRodrigo Echecopar,
511-419-2591Investor Relations
Coordinatorrodrigo.echecopar@buenaventura.peCompany Website:
www.buenaventura.comorIn NY:Barbara Cano,
646-452-2334barbara@inspirgroup.com
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