Buenaventura Announces Second Quarter 2020 Production Results
July 20 2020 - 9:01AM
Business Wire
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 2Q20 results for production and volume sold.
In order to ensure transparency in light of uncertainties
associated with the current operating environment, Buenaventura
will be releasing its production data on a monthly basis until
greater production continuity and visibility is possible.
2Q20 Production per Metal(100% Basis)
Phase 1 Tambomayo Jan Feb
Mar 1Q Apr May Jun 2Q
6M20
Au [Oz]
5,111
7,067
2,371
14,549
2,804
6,162
8,155
17,121
31,670
Ag [Oz]
132,079
200,105
53,347
385,532
99,322
151,018
159,670
410,010
795,541
Pb [MT]
543
443
208
1,194
213
351
626
1,190
2,384
Zn [MT]
609
461
197
1,267
182
243
405
831
2,098
Uchucchacua Jan Feb Mar
1Q Apr May Jun 2Q
6M20
Ag [Oz]
773,878
767,022
415,563
1,956,463
0
451,825
527,183
979,008
2,935,471
Pb [MT]
1,044
814
414
2,273
0
245
508
753
3,026
Zn [MT]
1,179
861
320
2,360
0
107
355
462
2,822
El Brocal Jan Feb Mar 1Q
Apr May Jun 2Q
6M20
Au [Oz]
1,570
1,476
1,008
4,054
0
0
1,049
1,049
5,103
Ag [Oz]
221,958
267,914
188,195
678,067
0
0
248,693
248,693
926,761
Pb [MT]
1,535
2,579
1,346
5,460
0
0
2,188
2,188
7,648
Zn [MT]
5,089
5,692
4,277
15,058
0
0
4,385
4,385
19,442
Cu [MT]
3,415
3,053
2,654
9,122
0
0
3,045
3,045
12,167
Coimolache Jan Feb Mar 1Q
Apr May Jun 2Q
6M20
Au [Oz]
10,095
6,679
5,719
22,493
4,635
3,532
5,385
13,551
36,044
Phase 2 Julcani Jan Feb
Mar 1Q Apr May Jun 2Q
6M20
Ag [Oz]
217,316
219,535
113,700
550,552
249
0
135,928
136,177
686,729
Pb [MT]
54
59
36
149
0
0
29
29
178
Orcopampa Jan Feb Mar 1Q
Apr May Jun 2Q
6M20
Au [Oz]
3,992
4,129
40
8,160
0
0
7,612
7,612
15,773
La Zanja Jan Feb Mar 1Q
Apr May Jun 2Q
6M20
Au [Oz]
614
1,750
932
3,297
0
1,779
1,249
3,028
6,325
*Silver guidance expressed in millions and gold, Copper,
Lead and Zinc guidance expressed in thousands. **Guidance is
subject to continuous review based on the possible disruptions
related to COVID-19 (increase of cases at our operations, new
government regulations and social disruptions).
Yanacocha
Production Jan Feb Mar 1Q
Apr May Jun 2Q
6M20
Au [Oz]
45,520
35,326
40,956
121,802
21,680
17,070
29,078
67,827
189,629
Phase 1
- Tambomayo
- Total workforce (approx.): 700
- All workers remain within operations footprint
- Operation isolated from communities
- COVID-19 mortality rate at regional level per millions of
people*: 324 vs 381 (national average)
- Uchucchacua
- Total workforce (approx.): 1,800
- All workers remain within operations footprint
- Operation isolated from communities
- COVID-19 mortality rate at regional level per millions of
people*: 553 vs 381 (national average)
- El Brocal
- Total workforce (approx.): 2,000
- Workers partially accommodated within operational
footprint
- Communities located near the operation
- COVID-19 mortality rate at regional level per millions of
people*: 118 vs 381 (national average)
- Coimolache:
- Total workforce (approx.): 1,200
- All workers remain within operations footprint
- Operation isolated from communities
- COVID-19 mortality rate at regional level per millions of
people*: 93 vs 381 (national average)
Phase 2
- Julcani:
- Total workforce (approx.): 950
- Workers partially accommodated within operations footprint
- Communities located near the operation
- COVID-19 mortality rate at regional level per millions of
people*: 65 vs 381 (national average)
- Orcopampa:
- Total workforce (approx.): 800
- Workers partially accommodated within operations footprint
- Communities located near the operation
- COVID-19 mortality rate at regional level per millions of
people*: 324 vs 381 (national average)
- La Zanja:
- Total workforce (approx.): 750
- All workers remain within operations footprint
- Isolated from communities
- COVID-19 mortality rate at regional level per millions of
people*: 93 vs 381 (national average)
*Source: Macroconsult Daily Bulletin “Covid-19 and the economy”
07/15/2020
2Q20 Payable Volume sold per Metal (100% basis)
1Q20(Actual) 2Q20(Actual) 1H20(Actual) Gold
(Oz.) Orcopampa
9,016
3,675
12,690
Tambomayo
5,286
16,499
21,785
La Zanja
3,295
4,032
7,327
Coimolache
23,978
14,549
38,528
El Brocal
2,639
633
3,272
Silver (Oz.) Uchucchacua
1,880,330
644,014
2,524,344
El Brocal
466,365
187,339
653,704
Tambomayo
110,661
487,028
597,690
Julcani
514,114
119,531
633,645
Lead (MT) El Brocal
5,145
1,888
7,033
Uchucchacua
1,972
403
2,375
Tambomayo
282
1,547
1,828
Julcani
95
25
121
Zinc (MT) El Brocal
12,438
3,575
16,013
Uchucchacua
1,874
366
2,240
Tambomayo
992
810
1,802
Copper (MT) El Brocal
8,458
2,758
11,217
Realized Metal Prices* Gold (Oz)
1,692
1,775
1,738
Silver (Oz)
17.16
16.67
17.00
Lead (MT)
1,653
1,460
1,587
Zinc (MT)
1,824
1,112
1,655
Copper (MT)
5,536
5,085
5,425
*Buenaventura consolidated figures
Compañía de Minas Buenaventura S.A.A.
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* ,
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 2019 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/20200720005421/en/
Contacts in Lima: Leandro García, Chief Financial Officer
(511) 419 2540
Rodrigo Echecopar, Head of Investor Relations (511)
419 2591 / rodrigo.echecopar@buenaventura.pe
Contacts in NY: Barbara Cano (646) 452 2334
barbara@inspirgroup.com
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