Buenaventura Announces Second 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 2Q17 production results and 2017 operating guidance (100% basis).

               
1Q17 (Actual)   2Q17 (Actual)   6M17 (Actual)   2017 (Estimated )
Gold (Oz.)                
Orcopampa   42,332   46,917   89,248   190k - 200k
Tambomayo   0   12,454   12,454   60k - 90k
La Zanja   32,255   30,647   62,902   115k - 125k
Tantahuatay   31,245   31,725   62,970   145k - 155k
Yanacocha   137,621   120,856   258,477   530k - 560k
     
Silver (Oz.)                
Uchucchacua 1   4,021,722   4,311,194   8,332,916   17.0M - 18.0M
Julcani   666,236   647,883   1,314,118   2.6M - 2.8M
Mallay   320,372   380,369   700,742   1.0M - 1.3M
Tambomayo   0   295,379   295,379   1.6M - 1.9M
El Brocal   1,044,908   976,757   2,021,665   3.5M - 4.5M
 
Zinc (MT)                
El Brocal   16,903   12,166   29,069   50k - 60k
Uchucchacua 1   1,882   2,867   4,749   7.5k - 8.5k
Mallay   2,174   2,244   4,418   7.0k - 9.0k
Tambomayo   0   59   59   2k - 5k
 
Copper (MT)                
El Brocal   11,155   10,308   21,463   55K - 65K
Cerro Verde   118,744   TBA   TBA   500k - 550k
1. Production from 2Q17 considers 82,525 Ag Oz and 82.43 Zn MT from Uchucchacua´s material treated in Mallay´s processing plant.

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 2016 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

Contacts in Lima:
Carlos Galvez, (511) 419 2540
Chief Financial Officer
or
Rodrigo Echecopar, (511) 419 – 2591
Investor Relations Coordinator
rodrigo.echecopar@buenaventura.pe
or
Contacts in NY:
Barbara Cano, (646) 452 2334
barbara.cano@mbsvalue.com

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