Buenaventura Announces First Quarter and 2017 Estimated Production per Metal Results

LIMA, Peru--()--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 preliminary 1Q17 production results and 2017 operating guidance (100% basis).

1Q17 Production per Metal and
2017 Operating Guidance (100% basis)

       
       
1Q17 (Actual)     2017 (Estimated)
 
Gold (Oz.)            
Orcopampa     42,332    

180K - 190K

Tambomayo     -    

60K - 90K

La Zanja     32,255    

115K - 125K

Tantahuatay     31,245    

145K - 155K

Yanacocha     137,622    

530K - 560K

 
Silver (Oz.)            
Uchucchacua     4,021,722     16.0M - 17.0M
Julcani     666,236     3.0M - 3.4M
Mallay     320,372     1.5M - 1.7M
Tambomayo     -     1.6M - 1.9M
El Brocal     1,044,908     3.5M - 4.5M
 
Zinc (MT)            
El Brocal     16,903     60K - 70K
Uchucchacua     1,882     6.5K - 7.5K
Mallay     2,174    

11.5K - 12.5K

Tambomayo     -    

2K - 5K

 
Copper (MT)            
El Brocal     11,155     55K - 65K
Cerro Verde     TBA    

500K - 550K

 

Company Description

Compañía de Minas Buenaventura S.A.A. is Peru’s largest, publicly traded precious metals Company and a major holder of mining rights in Peru. The Company is engaged in the mining, processing, development and exploration of gold and silver and other metals via wholly owned mines and through its participation in joint exploration projects.

Buenaventura currently operates several mines in Peru (Orcopampa*, Uchucchacua*, Mallay*, Julcani*, Tambomayo*, El Brocal, La Zanja and Coimolache) and is developing the San Gabriel Project.

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 2015 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.

Contacts

Compañia de Minas Buenaventura S.A.A.
Lima:
Carlos Galvez, 511-419-2540
Chief Financial Officer
or
Rodrigo Echecopar, 511-419-2609
Investor Relations Coordinator
rodrigo.echecopar@buenaventura.pe
or
NY:
Barbara Cano, 646-452-2334
barbara.cano@mbsvalue.com
Company Website:
www.buenaventura.pe/ir

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