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MarketScreener Homepage  >  Equities  >  BOLSA DE VALORES DE LIMA  >  COMPANIA DE MINAS BUENAVENTURA S.A.A.    BUENAVC1   PEP612001003

COMPANIA DE MINAS BUENAVENTURA S.A.A.

(BUENAVC1)
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COMPANIA DE MINAS BUENAVENTURA A : Buenaventura Announces First Quarter 2019 Production, Volume Sold per Metal Results and 2019 Operating Guidance

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04/15/2019 | 06:13pm EDT

Buenaventura Announces First Quarter 2019 Production and

Volume Sold per Metal Results

Lima, Peru, April 15, 2019 - 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 1Q19 production and volume sold.

1Q19 Production per Metal and 2019 Operating Guidance (100% basis)

1Q19

FY 2019

1Q19

FY 2019

(Actual)

(Estimated)

(Actual)

(Estimated)

Gold (Oz.)

Silver (Oz.)

Orcopampa

5,949

75k

- 90k

Uchucchacua

1,996,439

13.0M

- 14.0M

Tambomayo

24,034

90k - 110k

El Brocal

764,388

4.5M

- 5.5M

La Zanja

13,616

25k

- 35k

Tambomayo

515,242

2.5M

- 3.0M

Tantahuatay

26,273

150k

- 170k

Julcani

658,715

2.2M

- 2.5M

Yanacocha

144,423

510k*

El Brocal

3,417

25k

- 30k

Zinc (MT)

Lead (MT)

El Brocal

10,467

57k

- 65k

El Brocal

5,031

22.0k

- 26.0k

Uchucchacua

3,904

20k

- 25k

Uchucchacua

2,959

22.0k

- 26.0k

Tambomayo

2,506

6k

- 8k

Tambomayo

1,946

4.0k

- 5.0k

Julcani

241

0.9k

- 1.0k

Copper (MT)

El Brocal

8,856

47K - 52K

* As announced by Newmont

Contacts in Lima:

Contacts in NY:

Leandro García, Chief Financial Officer

Barbara Cano

(511) 419 2540

(646) 452 2334

Rodrigo Echecopar, Head of Investor Relations

barbara@inspirgroup.com

(511)419 2591 / rodrigo.echecopar@buenaventura.pe Company Website: www.buenaventura.com.pe/ir

Compañía de Minas Buenaventura S.A.A.

Page 2 of 4

1Q19 Production Comments

Gold Operations

Orcopampa:

1Q19 gold production was in line with budget.

The 2019 guidance announced at the beginning of the year has not changed.

Tambomayo:

1Q19 gold, silver, zinc and lead production was in line with budget.

The 2019 guidance announced at the beginning of the year has not changed.

La Zanja:

1Q19 gold production was in line with budget.

The 2019 guidance announced at the beginning of the year has not changed.

Tantahuatay:

1Q19 gold production was in line with budget.

The 2019 guidance announced at the beginning of the year has not changed.

Silver Operations

Uchucchacua:

1Q19 silver, lead and zinc production was below budget mainly due to the strike that lasted 21 days in January and the effect of the heavy rainy season during the first quarter.

Silver and zinc production guidance has been reduced, however the mining plan has been adjusted (focus on areas with higher margins) in order to maintain its profitability.

Julcani:

1Q19 silver and lead production was in line with budget.

The 2019 guidance announced at the beginning of the year has not changed.

Base Metals Operations

El Brocal:

1Q19 gold, silver, copper, lead and zinc production was below budget mainly due to the effect of the heavy rainy season during the first quarter. Production is expected to be recovered during the coming quarters.

The 2019 guidance announced at the beginning of the year has not changed.

Compañía de Minas Buenaventura S.A.A.

Page 3 of 4

1Q19 Volume Sold

1Q19 Volume sold per Metal (100% basis)

1Q19 (Actual)

Gold (Oz.)

Orcopampa

2,367

Tambomayo

16,360

La Zanja

12,621

Tantahuatay

26,191

El Brocal

2,178

Silver (Oz.)

Uchucchacua

1,834,669

El Brocal

592,139

Tambomayo

399,251

Julcani

633,567

Lead (MT)

El Brocal

5,159

Uchucchacua

2,456

Tambomayo

1,551

Julcani

211

Zinc (MT)

El Brocal

9,387

Uchucchacua

3,402

Tambomayo

1,979

Copper (MT)

El Brocal

8,313

Realized Metal Prices

Gold (Oz)

1,301

Silver (Oz)

15.45

Lead (MT)

2,055

Zinc (MT)

2,813

Copper (MT)

6,122

Compañía de Minas Buenaventura S.A.A.

Page 4 of 4

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*, 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 & 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 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 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.

Disclaimer

Compañia de Minas Buenaventura SAA published this content on 15 April 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 15 April 2019 22:12:02 UTC

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Financials (USD)
Sales 2019 1 070 M
EBIT 2019 -
Net income 2019 108 M
Debt 2019 319 M
Yield 2019 -
P/E ratio 2019 -
P/E ratio 2020 -
EV / Sales2019 1,48x
EV / Sales2020 1,19x
Capitalization 1 264 M
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NameTitle
Víctor Esteban Gobitz Colchado President & Chief Executive Officer
Roque Eduardo Benavides Ganoza Chairman
Juan Carlos Ortiz Vice President-Operations
Leandro García Raggio Chief Financial Officer & Vice President
José Miguel Morales Dasso Independent Director
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