Report of Foreign Issuer (6-k)

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN ISSUER
PURSUANT TO RULE 13a-16 OR 15b-16 OF
THE SECURITIES EXCHANGE ACT OF 1934

For the month of July 2020

Commission File Number 001-14370

COMPANIA DE MINAS BUENAVENTURA S.A.A.

(Exact name of registrant as specified in its charter)

BUENAVENTURA MINING COMPANY INC.
(Translation of registrant’s name into English)

Republic of Peru
(Jurisdiction of incorporation or organization)

CARLOS VILLARAN 790
SANTA CATALINA, LIMA 13, PERU
(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

Form 20-F ____X___ Form 40-F _______

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): [ ]

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): [ ]

Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes _______ No ___X____

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): Not applicable.

Buenaventura Announces Second Quarter and Six Month 2020 Results

Lima, Peru, July 30, 2020 – 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 results for the second quarter (2Q20) and six-month (6M20) period ended June 30, 2020. All figures have been prepared in accordance with IFRS (International Financial Reporting Standards) on a non-GAAP basis and are stated in U.S. dollars (US$).

Second Quarter 2020 Highlights:

●

2Q20 results were adversely impacted by the State of Emergency and related mandated lockdown instituted by the Peruvian Government in order to contain the spread of the Coronavirus (COVID-19). As part of the Buenaventura´s two-phased plan, on May 16, 2020 Tambomayo, Uchucchacua, El Brocal and Coimolache began the process to restart operations. The second phase began on June 16, 2020. As of the date of this press release, the Company expects to reach full capacity at all operations by the end of August.

●

2Q20 EBITDA from direct operations was US$ 26.5 million, compared to US$ 47.1 million reported in 2Q19.

●

June 2020 EBITDA from direct operations was US$33.3 million, an initial indication of post-State of Emergency restriction recovery.

●

2Q20 Adjusted EBITDA including associated companies reached US$ 86.1 million, compared to US$ 137.3 million in 2Q19.

●

2Q20 capital expenditures were US$ 11.6 million, compared to US$ 28.8 million for the same period in 2019.

●

2Q20 net loss was US$ 25.1 million, compared to a net income of US$ 9.7 million for the same period in 2019. US$2.9 million of the above net loss was due to additional expenses related to the effect of COVID-19 on a consolidated basis.

●

The Company´s De-Bottlenecking Program continued to progress during the 2Q20 at a reduced level. The program’s 2020 focus is on the Company’s Tambomayo, Uchucchacua and El Brocal mines (please refer to page 6 for related details).

●

Buenaventura’s 2Q20 cash position reached US$ 196 million.

●

Updated guidance will be provided once Buenaventura has achieved full production capacity at all operations.

Financial Highlights (in millions of US$, except EPS figures):

	2Q20	2Q19	Var	6M20	6M19	Var
Total Revenues	97.8	216.1	-55%	212.3	402.2	-47%
Operating Profit	-17.9	-15.3	17%	-77.5	-42.4	83%
EBITDA Direct Operations	26.5	47.1	-44%	19.7	74.8	-74%
Adjusted EBITDA (Inc Associates)	86.1	137.3	-37%	116.7	304.3	-62%
Net Income	-25.1	9.7	N.A.	-100.1	37.0	N.A.
EPS*	-0.10	0.04	N.A.	-0.39	0.15	N.A.

(*) As of June 30, 2020 Buenaventura had a weighted average number of shares outstanding of 253,986,867.

Compañía de Minas Buenaventura S.A.A.
First Quarter 2020 Results
Page 2 of 27

Operating Revenues

2Q20 net sales were US$ 94.2 million, compared to US$ 210.8 million reported in 2Q19. This was primarily due to a 46% year on year decrease in gold volumes sold, a 73% year on year decrease in silver volumes sold, 75% year on year decrease in lead volumes sold, a 72% year on year decrease in zinc volumes sold and a 70% year on year decrease in copper volumes sold primarily due to the impact of the State of Emergency declared by the Peruvian government.

Royalty income decreased 34% in the 2Q20 to US$ 3.6 million, from US$ 5.4 million in 2Q19. This was due to a 31% decrease in revenues at Yanacocha.

Operating Highlights	2Q20	2Q19	%	6M20	6M19	%
Net Sales (in millions of US$)	94.2	210.8	-55%	203.0	391.4	-48%
Average Realized Gold Price (US$/oz) ^{(1) (2)}	1,775	1,303	36%	1,738	1,302	33%
Average Realized Gold Price (US$/oz) Inc. Affiliates ⁽²⁾⁽³⁾	1,744	1,308	33%	1,669	1,306	28%
Average Realized Silver Price (US$/oz) ^{(1) (2)}	16.67	14.91	12%	17.00	15.12	12%
Average Realized Lead Price (US$/MT)^{(1) (2)}	1,460	1,851	-21%	1,587	1,929	-18%
Average Realized Zinc Price (US$/MT)^{(1) (2)}	1,112	2,875	-61%	1,655	2,847	-42%
Average Realized Copper Price (US$/MT)^{(1) (2)}	5,085	6,077	-16%	5,425	6,098	-11%

Volume Sold	2Q20	2Q19	%	6M20	6M19	%
Consolidated Gold Oz ⁽¹⁾	24,839	45,854	-46%	45,075	81,441	-45%
Gold Oz Inc. Associated Companies⁽³⁾	60,327	118,715	-49%	141,852	224,962	-37%
Consolidated Silver Oz ⁽¹⁾	1,460,620	5,342,779	-73%	4,470,246	8,844,458	-49%
Consolidated Lead MT ⁽¹⁾	3,862	15,171	-75%	11,357	24,549	-54%
Consolidated Zinc MT ⁽¹⁾	4,751	17,070	-72%	20,055	31,839	-37%
Consolidated Copper MT ⁽¹⁾	2,758	9,189	-70%	11,223	17,507	-36%

(1)	Buenaventura Consolidated figure includes 100% of Buenaventura’s operating units, 100% of La Zanja and 100% of El Brocal.

(2)	The realized price takes into account the adjustments of quotational periods.

(3)	Considers 100% of Buenaventura’s operating units, 100% of La Zanja, 100% of El Brocal, 40.095% of Coimolache and 43.65% of Yanacocha.

Compañía de Minas Buenaventura S.A.A.
First Quarter 2020 Results
Page 3 of 27

Production and Operating Costs

Buenaventura’s 2Q20 equity gold production was 62,029 ounces, compared to 115,245 reported in 2Q19, primarily due to a 30% percent production decrease at Tambomayo and a 51% production decrease at Yanacocha due to the impact of the Peruvian government’s State of Emergency.

Silver equity production decreased by 64% year on year, primarily due to a 68% decrease in production at the Uchucchacua mine. Lead equity production decreased by 75% year on year, primarily due to a 74% production decrease at El Brocal and 87% decrease at the Uchucchacua mine. Zinc equity production decreased by 75% year on year, primarily due to a 65% production decrease at El Brocal and 92% decrease at the Uchucchacua mine. The above is directly related to the impact of the Peruvian government’s State of Emergency.

Equity Production	2Q20	2Q19	%	6M20	6M19	%
Gold Oz Direct Operations⁽¹⁾	26,989	40,598	-34%	53,956	79,935	-33%
Gold Oz including Associated⁽²⁾ Companies	62,029	115,245	-46%	151,181	228,157	-34%
Silver Oz Direct Operations⁽¹⁾	1,686,689	5,187,170	-67%	5,005,697	8,856,414	-43%
Silver Oz including Associated Companies	1,991,257	5,516,353	-64%	5,805,312	9,511,204	-39%
Lead MT	3,316	13,023	-75%	10,286	21,259	-52%
Zinc MT	3,986	16,090	-75%	16,863	28,930	-42%
Copper MT Direct Operations⁽¹⁾	1,881	5,989	-69%	7,526	11,473	-34%
Copper MT including Associated Companies⁽³⁾	17,667	27,167	-35%	41,366	55,840	-26%

Consolidated Production	2Q20	2Q19	%	6M20	6M19	%
Gold Oz⁽⁴⁾	28,815	44,582	-35%	58,893	91,629	-36%
Silver Oz⁽⁴⁾	1,789,375	5,751,519	-69%	5,376,212	9,738,672	-45%
Lead MT⁽⁴⁾	4,160	16,244	-74%	13,236	26,420	-50%
Zinc MT⁽⁴⁾	5,677	20,902	-73%	24,362	37,779	-36%
Copper MT⁽⁴⁾	3,056	9,719	-69%	12,218	18,618	-34%

(1)	Buenaventura’s Direct Operations includes 100% of Buenaventura’s operating units, 53.06% of La Zanja and 61.43% of El Brocal.

(2)	Based on 100% of Buenaventura´s operating units, 53.06% of La Zanja, 61.43% of el Brocal, 40.095% of Coimolache and 43.65% of Yanacocha.

(3)	Based on 100% of Buenaventura´s operating units, 61.43% of el Brocal and 19.58% of Cerro Verde.

(4)	Based on 100% of Buenaventura’s operating units, 100% of La Zanja and 100% of El Brocal.

Compañía de Minas Buenaventura S.A.A.
First Quarter 2020 Results
Page 4 of 27

Tambomayo (100% owned by Buenaventura)

Production
		2Q20	2Q19	Var %			6M20	6M19	Var %
Gold	Oz	17,121	24,610		-30	%	31,670	48,643		-35	%
Silver	Oz	410,010	558,034		-27	%	795,541	1,073,277		-26	%

Cost Applicable to Sales
		2Q20	2Q19	Var %			6M20	6M19	Var %
Gold	US$/Oz	736	558		32	%	984	617		59	%

2Q20 year on year gold production at Tambomayo decreased 30% mainly due to a reduction in ore treated due to State of Emergency restrictions as well as low gold grade inventories treated in April. Cost Applicable to Sales (CAS) increased to 736 US$/Oz in 2Q20, compared to 558 US$/Oz in 2Q19, primarily due to at 40% decrease in volume sold.

Tambomayo ended June 2020 with a 9,000 ounce increase in gold inventory, which is more than usual for this time period.

Orcopampa (100% owned by Buenaventura)

Production
		2Q20	2Q19	Var %	6M20	6M19	Var %
Gold	Oz	7,612	10,764	-29%	15,773	16,713	-6%
Silver	Oz	1,075	7,312	-85%	3,881	10,499	-63%

Cost Applicable to Sales
		2Q20	2Q19	Var %	6M20	6M19	Var %
Gold	US$/Oz	325	1,563	-79%	909	1,834	-50%

The decrease in 2Q20 gold production at Orcopampa was mainly due to reduced amounts of ore treated despite a higher ore grade. Cost Applicable to Sales (CAS) decreased to 325 US$/Oz in 2Q20, compared to 1,563 US$/Oz in 2Q19, primarily due to a higher gold grade (74%).

As result of suspended activities during the State of Emergency, operating cost during those months without production was recognized as “other expenses”. In the case of Orcopampa, US$ 3.6 million (excluding D&A) was classified as “others”.

La Zanja (53.06% owned by Buenaventura)

Production
		2Q20	2Q19	Var %	6M20	6M19	Var %
Gold	Oz	3,028	5,443	-44%	6,325	19,060	-67%
Silver	Oz	14,411	11,422	26%	27,830	60,604	-54%

Cost Applicable to Sales
		2Q20	2Q19	Var %	6M20	6M19	Var %
Gold	US$/Oz	1,053	1,471	-28%	1,656	1,115	49%

2Q20 gold production decreased by 44%, year on year. 2Q20 Cost Applicable to Sales (CAS) was 1,053 US$/Oz; a 28% decrease compared to 1,471 US$/Oz in 2Q19. Said decrease in CAS was due to the fact that most production was derived from re-leaching the pads, therefore consuming inventories.

Compañía de Minas Buenaventura S.A.A.
First Quarter 2020 Results
Page 5 of 27

Due to suspended activities during the State of Emergency, operating cost during the months without production was recognized as “other expenses”. In the case of La Zanja, US$ 0.2 million (excluding D&A) was classified as “others”.

Coimolache (40.10% owned by Buenaventura)

Production
		2Q20	2Q19	Var %			6M20	6M19	Var %
Gold	Oz	13,551	34,766		-61	%	36,044	61,039		-41	%
Silver	Oz	77,992	145,567		-46	%	266,957	221,927		20	%

Cost Applicable to Sales
		2Q20	2Q19	Var %			6M20	6M19	Var %
Gold	US$/Oz	1,017	716		42	%	942	721		31	%

2Q20 gold production at Coimolache decreased by 61% year on year, primarily due to a reduction in ore treated due to the State of Emergency. 2Q20 Cost Applicable to Sales (CAS) was 1,017 US$/Oz; a 42% increase compared to 716 US$/Oz in 2Q19, mainly due to a 58% decrease in volume sold.

Uchucchacua (100% owned by Buenaventura)

Production
		2Q20	2Q19	Var %			6M20	6M19	Var %
Silver	Oz	979,008	3,083,290		-68	%	2,935,471	5,079,729		-42	%
Zinc	MT	462	6,093		-92	%	2,822	9,998		-72	%
Lead	MT	753	5,795		-87	%	3,026	8,754		-65	%

Cost Applicable to Sales
		2Q20	2Q19	Var %			6M20	6M19	Var %
Silver	US$/Oz	16.24	10.37		57	%	16.61	10.82		54	%

2Q20 silver production at Uchucchacua reflected a 68% decrease, primarily due to a reduction in ore treated due to the State of Emergency. Cost Applicable to Sales (CAS) in 2Q20 increased by 57% year on year, mainly due to a 78% decrease in volume sold.

Due to suspended activities during the State of Emergency, the operating cost during those months without production was recognized as “other expenses”. In the case of Uchucchacua, US$ 3.2 million (excluding D&A) was classified as “others”.

Julcani (100% owned by Buenaventura)

Production
		2Q20	2Q19	Var %			6M20	6M19	Var %
Silver	Oz	136,177	642,182		-79	%	686,729	1,300,897		-47	%

Cost Applicable to Sales
		2Q20	2Q19	Var %			6M20	6M19	Var %
Silver	US$/Oz	17.02	13.47		26	%	16.10	13.77		17	%

2Q20 silver production decreased 79% year on year due to a reduction in ore treated resulting from Peru’s State of Emergency. 2Q20 Cost Applicable to Sales (CAS) of 17.02 US$/Oz was 26% higher than 13.47 US$/Oz in 2Q19, mainly due to an 80% decrease in volume sold.

Compañía de Minas Buenaventura S.A.A.
First Quarter 2020 Results
Page 6 of 27

Due to suspended activities during the State of Emergency, the operating cost during those months without production was recognized as “other expenses”. In the case of Julcani, US$ 2.0 million (excluding D&A) was classified as “others”.

El Brocal (61.43% owned by Buenaventura)

Production
		2Q20	2Q19	Var %	6M20	6M19	Var %
Copper	MT	3,045	9,671	-69%	12,167	18,527	-34%
Zinc	MT	4,385	12,476	-65%	19,442	22,943	-15%
Silver	Oz	248,693	1,449,278	-83%	926,761	2,213,667	-58%

Cost Applicable to Sales
		2Q20	2Q19	Var %	6M20	6M19	Var %
Zinc	US$/MT	1,491	2,099	-29%	1,760	2,149	-18%
Copper	US$/MT	5,473	5,504	-1%	5,262	5,680	-7%

2Q20 copper production decreased by 69% as compared to production reported for 2Q19. 2Q20 zinc production decreased by 65% year on year. In both cases, this was primarily due to a reduction in ore treated due to the State of Emergency.

In 2Q20, Zinc Cost Applicable to Sales (CAS) 2Q20 decreased by 29% compared to 2Q19, mainly due to a higher zinc grade (63%). 2Q20 copper CAS decreased slightly.

Due to the suspension of activities during the State of Emergency, the operating cost during those months without production was recognized as “other expenses”. In the case of El Brocal, US$ 10.2 million (excluding D&A) was classified as “others”.

De-Bottlenecking Program – 2020 Update

Buenaventura’s De-Bottlenecking Program progressed well during the quarter under the circumstances, generating additional EBITDA as illustrated below:

Compañía de Minas Buenaventura S.A.A.
First Quarter 2020 Results
Page 7 of 27

General and Administrative Expenses

2Q20 General and Administrative expenses were US$ 14.9 million; a 17% decrease as compared to US$ 18.0 million in 2Q19. This is due to the Company´s successful cost containment and expense reduction during the quarter, which partially offset the adverse effects of Peru’s State of Emergency.

Exploration in Non-Operating Areas

2Q20 exploration costs in Non-Operating Areas were US$ 1.7 million, compared with US$ 3.4 million in 2Q19. During the period, Buenaventura focused exploration efforts primarily on Emperatriz, amounting to US$ 0.9 million during 2Q20.

Share in Associated Companies

During 2Q20, Buenaventura’s share in associated companies was US$ 3.9 million, compared to US$ 22.7 million reported in 2Q19, comprised of:

Share in the Result of Associates (in millions of US$)	2Q20	2Q19	Var	6M20	6M19	Var
Cerro Verde	13.5	10.4	29%	1.6	49.6	-97%
Yanacocha	-7.6	11.2	N.A.	-17.1	20.9	N.A.
Coimolache	-1.8	1.1	N.A.	-2.4	1.7	N.A.
Others	-0.1	0.0	N.A.	-0.2	0.0	N.A.
Total	3.9	22.7	-83%	-18.1	72.2	N.A.

YANACOCHA

At Yanacocha, which is 43.65% owned by Buenaventura, 2Q20 gold production was 67,827 ounces; 29,606 ounces of which were attributable to Buenaventura. This represents a 51% decrease as compared to the 139,077 ounces produced in 2Q19; 60,707 ounces of which were attributable to Buenaventura.

For 6M20, gold production was 189,629; 82,773 ounces of which were attributable to Buenaventura, a 33% decrease as compared to 283,500 ounces in 6M19; 123,748 ounces of which were attributable to Buenaventura.

In 2Q20, Yanacocha reported a net loss of US$ 17.5 million, compared to a net income of US$ 25.7 million reported in 2Q19. CAS in 2Q20 was 929 US$/Oz; a 23% increase compared to 753 US$/Oz in 2Q19.

Capital expenditures at Yanacocha were US$ 19.4 million in 2Q20.

The Yanacocha Sulfides project

●	Currently in Definitive Feasibility Stage

●	Study work and engineering continue to successfully progress remotely

●	Decision to proceed expected in 2021.

●	The Environmental Impact Assessment study was approved in March 2019.

Compañía de Minas Buenaventura S.A.A.
First Quarter 2020 Results
Page 8 of 27

CERRO VERDE

At Cerro Verde (19.58% owned by Buenaventura), 2Q20 copper production was 80,621 MT; 15,786 MT of which is attributable to Buenaventura, a decrease as compared to 108,160 MT produced in 2Q19; 21,178 MT of which was attributable to Buenaventura.

6M20 copper production was 172,832 MT; 33,840 MT of which was attributable to Buenaventura. 6M19 copper production was 226,596 MT; 44,367 MT of which was attributable to Buenaventura.

Cerro Verde reported a 2Q20 net income of US$ 68.7 million compared to net income of US$ 53.3 million in 2Q19. This is primarily due to a US$163.5 million decrease in cost of sales as a result of lower supplies, depreciation, labor and energy costs related to the State of Emergency restrictions. This was mainly offset by a US$115 million decrease in volume sold.

Capital expenditures at Cerro Verde were US$ 36.8 million in 2Q20.

COIMOLACHE (Tantahuatay operation)

At Coimolache (40.10% owned by Buenaventura), 2Q20 attributable contribution to net income was negative US$ 1.8 million, as compared to positive US$ 1.1 million in 2Q19.

Compañía de Minas Buenaventura S.A.A.
First Quarter 2020 Results
Page 9 of 27

***

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 as well as through its participation in joint exploration projects.

Buenaventura currently operates several mines in Peru: Orcopampa*, Uchucchacua*, Mallay*, Julcani*, El Brocal, La Zanja and Coimolache, and is developing the Tambomayo project.

The Company owns 43.65% of Minera Yanacocha S.R.L (a partnership with Newmont Mining Corporation), an important precious metal producer; 19.58% of Sociedad Minera Cerro Verde, an important Peruvian copper producer.

For a printed version of the Company’s 2019 Form 20-F, please contact the investor relations contacts on page 1 of this report, or download the PDF format file from the Company’s web site at www.buenaventura.com.

(*) Operations wholly owned by Buenaventura

Note on Forward-Looking Statements

This press release and related conference call contain, in addition to historical information, forward-looking statements including statements related to the Company’s ability to manage its business and liquidity during and after the COVID-19 pandemic, the impact of the COVID-19 pandemic on the Company’s results of operations, including net revenues, earnings and cash flows, the Company’s ability to reduce costs and capital spending in response to the COVID-19 pandemic if needed, the Company’s balance sheet, liquidity and inventory position throughout and following the COVID-19 pandemic, the Company’s prospects for financial performance, growth and achievement of its long-term growth algorithm following the COVID-19 pandemic, future dividends and share repurchases.

This press release may also 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.

Compañía de Minas Buenaventura S.A.A.
First Quarter 2020 Results
Page 10 of 27

**Tables to follow**

APPENDIX 1

Equity Participation in Subsidiaries and Associates (as of June 30, 2020)
	BVN	Operating
	Equity %	Mines / Business
El Molle Verde S.A.C*	100.00	Trapiche Project
Minera La Zanja S.A*	53.06	La Zanja
Sociedad Minera El Brocal S.A.A*	61.43	Colquijirca and Marcapunta
Compañía Minera Coimolache S.A. **	40.10	Tantahuatay
Minera Yanacocha S.R.L. **	43.65	Yanacocha
Sociedad Minera Cerro Verde S.A.A **	19.58	Cerro Verde
Processadora Industrial Rio Seco S.A*	100.00	Rio Seco chemical plant
Consorcio Energético de Huancavelica S.A*	100.00	Energy – Huanza Hydroelectrical plant

(*) Consolidated

(**) Equity Accounting

Compañía de Minas Buenaventura S.A.A.
First Quarter 2020 Results
Page 11 of 27

APPENDIX 2

Gold Production			14					17
Mining Unit	Operating Results	Unit	2Q20	2Q19	△%			6M20	6M19	△ %
Underground
Tambomayo	Ore Milled	DMT	131,034	158,937		-18	%	246,816	304,094		-19	%
	Ore Grade	Gr/MT	5.21	5.73		-9	%	4.97	5.93		-16	%
	Recovery Rate	%	78.02	84.06		-7	%	80.34	83.95		-4	%
	Ounces Produced*	Oz	17,121	24,610		-30	%	31,670	48,643		-35	%
Orcopampa	Ore Milled	DMT	15,076	37,305		-60	%	35,692	62,392		-43	%
	Ore Grade	Gr/MT	16.12	9.25		74	%	13.96	8.61		62	%
	Recovery Rate	%	97.41	96.68		1	%	97.50	96.52		1	%
	Ounces Produced*	Oz	7,612	10,764		-29	%	15,773	16,713		-6	%
Open Pit
La Zanja	Ounces Produced	Oz	3,028	5,443		-44	%	6,325	19,060		-67	%
Tantahuatay	Ounces Produced	Oz	13,551	34,766		-61	%	36,044	61,039		-41	%
(*) Includes ounces from retreatment of tailing dams

Silver Production
Mining Unit	Operating Results	Unit	2Q20	2Q19	△%			6M20	6M19	△ %
Underground
Tambomayo	Ore Milled	DMT	131,034	158,937		-18	%	246,816	304,094		-19	%
	Ore Grade	Oz/MT	3.99	3.93		2	%	4.08	3.98		2	%
	Recovery Rate	%	78.39	89.39		-12	%	79.06	88.69		-11	%
	Ounces Produced	Oz	410,010	558,034		-27	%	795,541	1,073,277		-26	%
Uchucchacua	Ore Milled	DMT	85,429	349,686		-76	%	317,773	599,033		-47	%
	Ore Grade	Oz/MT	12.09	9.78		24	%	10.11	9.57		6	%
	Recovery Rate	%	94.77	90.18		5	%	91.37	88.58		3	%
	Ounces Produced	Oz	979,008	3,083,290		-68	%	2,935,471	5,079,729		-42	%
Julcani	Ore Milled	DMT	6,193	31,414		-80	%	32,924	61,042		-46	%
	Ore Grade	Oz/MT	22.78	21.39		6	%	21.57	22.15		-3	%
	Recovery Rate	%	96.34	95.57		1	%	96.65	96.22		0	%
	Ounces Produced	Oz	136,177	642,182		-79	%	686,729	1,300,897		-47	%
Marcapunta	Ore Milled	DMT	154,849	668,296		-77	%	662,009	1,349,255		-51	%
	Ore Grade	Oz/MT	0.72	0.77		-7	%	0.71	0.74		-4	%
	Recovery Rate	%	60.41	70.79		-15	%	65.27	62.08		5	%
	Ounces Produced	Oz	67,307	365,559		-82	%	305,673	616,257		-50	%
Open Pit
Tajo Norte	Ore Milled	DMT	239,898	1,073,607		-78	%	1,090,017	1,954,364		-44	%
	Ore Grade	Oz/MT	1.00	1.56		-36	%	0.85	1.27		-33	%
	Recovery Rate	%	75.88	64.59		17	%	67.02	64.37		4	%
	Ounces Produced	Oz	181,386	1,083,720		-83	%	621,087	1,597,410		-61	%

Compañía de Minas Buenaventura S.A.A.
First Quarter 2020 Results
Page 12 of 27

Zinc Production
Mining Unit	Operating Results	Unit	2Q20	2Q19	△%			6M20	6M19	△ %
Underground
Tambomayo	Ore Milled	DMT	131,034	158,937		-18	%	246,816	304,094		-19	%
	Ore Grade	%	1.69	1.95		-13	%	1.64	2.06		-21	%
	Recovery Rate	%	37.47	75.29		-50	%	51.87	77.11		-33	%
	MT Produced	MT	831	2,333		-64	%	2,098	4,838		-57	%
Uchucchacua	Ore Milled	DMT	85,429	349,686		-76	%	317,773	599,033		-47	%
	Ore Grade	%	1.21	2.55		-52	%	1.52	2.52		-40	%
	Recovery Rate	%	44.60	68.27		-35	%	58.49	66.17		-12	%
	MT Produced	MT	462	6,093		-92	%	2,822	9,998		-72	%
Open Pit
Tajo Norte	Ore Milled	DMT	239,898	1,073,607		-78	%	1,090,017	1,954,364		-44	%
	Ore Grade	%	3.35	2.06		63	%	3.41	2.13		60	%
	Recovery Rate	%	54.63	56.44		-3	%	52.32	55.21		-5	%
	MT Produced	MT	4,385	12,476		-65	%	19,442	22,943		-15	%


Copper Production
Mining Unit	Operating Results	Unit	2Q20	2Q19	△%			6M20	6M19	△ %
Underground
Marcapunta	Ore Milled	DMT	154,849	668,296		-77	%	662,009	1,349,255		-51	%
	Ore Grade	%	2.11	1.68		26	%	1.97	1.57		26	%
	Recovery Rate	%	93.09	86.26		8	%	93.22	87.51		7	%
	MT Produced	MT	3,045	9,671		-69	%	12,167	18,527		-34	%

Compañía de Minas Buenaventura S.A.A.
First Quarter 2020 Results
Page 13 of 27

APPENDIX 3: Adjusted EBITDA Reconciliation (in thousand US$)

	2Q20	2Q19	6M20	6M19
Net Income	-30,752	5,667	-117,851	29,678
Add / Substract:	57,248	41,404	137,515	45,142
Depreciation and Amortization in cost of sales	28,537	58,774	65,178	108,518
Share in associated companies by the equity method, net	-3,904	-22,705	18,146	-72,217
Interest expense	7,346	10,156	15,720	21,685
Impairment of inventories	3,771	-3,052	14,457	-2,123
Provision of bonuses and compensations	3,686	5,112	8,028	9,782
Depreciation and Amortization in other, net	8,511	528	8,511	528
Loss (gain) on currency exchange difference	2,019	238	3,115	217
Profit from discontinued operations	1,335	2,124	2,812	4,514
Provision (credit) for income tax, net	6,624	-9,001	1,835	-22,252
Depreciation and amortization in administration expenses	958	823	1,875	1,779
Workers' participation provision		-9	-	18
Interest income	-548	-1,825	-1,312	-4,045
Provision (reversal) for contingencies	-1,087	241	-850	-1,262
EBITDA Buenaventura Direct Operations	26,496	47,071	19,664	74,820
EBITDA Yanacocha (43.65%)	13,753	32,948	39,653	69,730
EBITDA Cerro Verde (19.58%)	41,493	48,497	45,533	145,230
EBITDA Coimolache (40.095%)	4,357	8,789	11,838	14,475
EBITDA Buenaventura + All Associates	86,099	137,305	116,688	304,255

*Cerro Verde’s EBITDA now considers D&A related to the capitalization of the stripping.

Note:

EBITDA (Buenaventura Direct Operations) consists of earnings before net interest, taxes, depreciation and amortization, share in associated companies, net, loss on currency exchange difference, other, net, provision for workers’ profit sharing and provision for long-term officers’ compensation.

EBITDA (including associated companies) consists of EBITDA (Buenaventura Direct Operations), plus (1) Buenaventura’s equity share of EBITDA (Yanacocha) (2) Buenaventura’s equity share of EBITDA (Cerro Verde), plus (3) Buenaventura’s equity share of EBITDA (Coimolache). All EBITDA mentioned were similarly calculated using financial information provided to Buenaventura by the associated companies.

Buenaventura presents EBITDA (Buenaventura Direct Operations) and EBITDA (including affiliates) to provide further information with respect to its operating performance and the operating performance of its equity investees, the affiliates. EBITDA (Buenaventura Direct Operations) and EBITDA (including affiliates) are not a measure of financial performance under IFRS, and may not be comparable to similarly titled measures of other companies. You should not consider EBITDA (Buenaventura Direct Operations) and EBITDA (including affiliates) as alternatives to operating income or net income determined in accordance with IFRS, as an indicator of Buenaventura’s, affiliates operating performance, or as an alternative to cash flows from operating activities, determined in accordance with IFRS, as an indicator of cash flows or as a measure of liquidity.

Compañía de Minas Buenaventura S.A.A.
First Quarter 2020 Results
Page 14 of 27

APPENDIX 4: COST APPLICABLE TO SALES RECONCILIATION

Reconciliation of Costs Applicable to Sales and Cost Applicable to Sales per Unit Sold

Cost applicable to sales consists of cost of sales, excluding depreciation and amortization, plus selling expenses. Cost applicable to sales per unit sold for each mine consists of cost applicable to sales for a particular metal produced at a given mine divided by the volume of such metal produced at such mine in the specified period. We note that cost applicable to sales is not directly comparable to the cash operating cost figures disclosed in previously furnished earnings releases.

Cost applicable to sales and Cost applicable to sales per unit of mineral sold are not measures of financial performance under IFRS, and may not be comparable to similarly titled measures of other companies. We consider Cost applicable to sales and Cost applicable to sales per unit of mineral sold to be key measures in managing and evaluating our operating performance. These measures are widely reported in the precious metals industry as a benchmark for performance, but do not have standardized meanings. You should not consider Cost applicable to sales or Cost applicable to sales per unit of mineral sold as alternatives to cost of sales determined in accordance with IFRS, as indicators of our operating performance. Cost applicable to sales and Cost applicable to sales per unit of mineral sold are calculated without adjusting for by-product revenue amounts.

The tables below set forth (i) a reconciliation of consolidated Cost of sales, excluding depreciation and amortization to consolidated Cost applicable to sales, (ii) reconciliations of the components of Cost applicable to sales (by mine and mineral) to the corresponding consolidated line items set forth on our consolidated statements of profit or loss for the three and nine months ended September 30, 2015 and 2016, and (iii) reconciliations of Cost of sales, excluding depreciation and amortization to Cost applicable to sales for each of our mining units. The amounts set forth in Cost applicable to sales and Cost applicable to sales per unit sold for each mine and mineral indicated in the tables below can be reconciled to the amounts set forth on our consolidated statements of profit or loss for the three and nine months ended September 30, 2015 and 2016 by reference to the reconciliations of Cost of sales, excluding depreciation and amortization (by mine and mineral), Selling Expenses (by mine and metal) expenses and Exploration in units in operations (by mine and mineral) to consolidated Cost of sales, excluding depreciation and amortization, consolidated Selling Expenses and consolidated Exploration in units in operations expenses, respectively, set forth below.

Compañía de Minas Buenaventura S.A.A.
First Quarter 2020 Results
Page 15 of 27

Set forth below is a reconciliation of consolidated Cost of sales, excluding depreciation and amortization, to consolidated Cost applicable to sales:

	For the 3 months ended June 30				For the 6 months ended June 30
	2020		2019		2020		2919
	(in thousands of US$)

Consolidated Cost of sales excluding depreciation and amortization		41,172		129,528		146,980	243,824
Add: Consolidated Exploration in units in operation		2,456		13,246		8,465	24,710
Consolidated Commercial deductions		19,958		55,984		70,001	101,531
Consolidated Selling expenses		2,230		6,373		6,778	10,291
Consolidated Cost applicable to sales		65,816		205,131		232,224	380,355

salesSet forth below is a reconciliation of Cost of sales, excluding depreciation and amortization

(by mine and mineral) to consolidated Cost of sales:

	For the 3 months ended June 30				For the 6 months ended June 30
	2020		2019		2020		2019
Cost of sales by mine and mineral	(in thousands of US$)
Julcani, Gold		0		18		0		18
Julcani, Silver		1,454		5,746		7,644		12,284
Julcani, Lead		0		211		129		492
Julcani, Copper		0		15		19		32
Orcopampa, Gold		618		12,538		9,821		20,963
Orcopampa, Silver		2		57		21		109
Orcopampa, Copper		0		0		0		0
Uchucchacua, Gold		0		0		0		-12
Uchucchacua, Silver		8,050		20,793		29,658		35,187
Uchucchacua, Lead		305		4,831		2,551		7,351
Uchucchacua, Zinc		199		6,789		2,510		11,594
Tambomayo, Gold		9,206		11,544		17,234		19,556
Tambomayo, Silver		2,561		2,952		4,532		5,225
Tambomayo, Zinc		820		1,022		1,429		4,097
Tambomayo, Lead		373		1,910		1,329		2,190
La Zanja, Gold		3,924		7,974		11,781		19,979
La Zanja, Silver		252		188		0		670
El Brocal, Gold		635		1,411		2,757		2,766
El Brocal, Silver		1,620		8,052		5,524		12,844
El Brocal, Lead		1,301		6,362		5,369		11,653
El Brocal, Zinc		1,870		12,690		12,628		25,364
El Brocal, Copper		6,797		24,252		29,104		48,924
Other Small Units, Gold
Other Small Units, Silver
Other Small Units, Lead
Other Small Units, Zinc
Non Mining Units		1,185		171		2,940		2,538
Consolidated Cost of sales, excluding depreciation and amortization		41,172		129,528		146,980		243,824

Set forth below is a reconciliation of Exploration expenses in units in operation (by mine and mineral) to consolidated Exploration expenses in mining units:

Compañía de Minas Buenaventura S.A.A.
First Quarter 2020 Results
Page 16 of 27

	For the 3 months ended June 30				For the 6 months ended June 30
	2020		2019		2020		2019
Exploration expenses in units in operation by mine and mineral	(in thousands of US$)
Julcani, Gold		0		4		0		4
Julcani, Silver		324		1,332		1,367		2,849
Julcani, Lead		0		49		23		114
Julcani, Copper		0		4		3		7
Orcopampa, Gold		480		3,575		1,510		6,097
Orcopampa, Silver		1		16		3		32
Orcopampa, Copper		0		0		0		0
Uchucchacua, Gold		0		0		0		-1
Uchucchacua, Silver		517		1,968		2,266		3,395
Uchucchacua, Lead		20		457		195		709
Uchucchacua, Zinc		13		642		192		1,119
Tambomayo, Gold		595		2,139		933		4,075
Tambomayo, Silver		165		547		245		1,089
Tambomayo, Lead		53		189		72		456
Tambomayo, Zinc		24		354		77		854
La Zanja, Gold		0		0		1		1
La Zanja, Silver		0		0		0		0
El Brocal, Gold		14		53		79		106
El Brocal, Silver		35		300		157		494
El Brocal, Lead		28		237		153		449
El Brocal, Zinc		41		474		360		976
El Brocal, Copper		147		905		829		1,883
Non Mining Units		0		0		0		0
Consolidated Exploration expenses in units in operation		2,456		13,246		8,465		24,710

Set forth below is a reconciliation of Commercial Deductions in units in operation (by mine and mineral)
to consolidated Commercial deductions:

	For the 3 months ended June 30				For the 6 months ended June 30
	2020		2019		2020		2019
Commercial Deductions in units in operation by mine and mineral	(in thousands of US$)
Julcani, Gold		0		2		-16		2
Julcani, Silver		202		724		1,043		1,495
Julcani, Lead		2		26		17		60
Julcani, Copper		-1		2		3		5
Mallay, Gold		0		0		0		0
Mallay, Silver		0		0		0		0
Mallay, Lead		0		0		0		0
Mallay, Zinc		0		0		0		0
Orcopampa, Gold		36		59		88		30
Orcopampa, Silver		0		1		0		-1
Orcopampa, Copper		0		0		0		0
Uchucchacua, Gold		0		0		1		-3
Uchucchacua, Silver		1,411		6,657		8,753		11,446
Uchucchacua, Lead		66		843		712		1,234
Uchucchacua, Zinc		52		4,921		1,363		6,241
Tambomayo, Gold		1,667		919		2,234		2,510
Tambomayo, Silver		1,037		863		1,496		1,615
Tambomayo, Lead		324		327		498		726
Tambomayo, Zinc		672		1,719		1,439		3,277
La Zanja, Gold		292		21		300		67
La Zanja, Silver		14		1		15		2
El Brocal, Gold		733		1,386		2,595		2,585
El Brocal, Silver		1,436		4,106		4,263		6,486
El Brocal, Lead		765		1,791		3,116		2,968
El Brocal, Zinc		3,349		7,565		14,526		14,550
El Brocal, Copper		7,900		24,050		27,555		46,234
Non Mining Units		0		0		0		0
Consolidated Commercial deductions in units in operation		19,958		55,984		70,001		101,531

Set forth below is a reconciliation of Selling expenses (by mine and mineral) to consolidated
Selling expenses:

Compañía de Minas Buenaventura S.A.A.
First Quarter 2020 Results
Page 17 of 27

	For the 3 months ended June 30				For the 6 months ended June 30
	2020		2019		2020		2019
Selling expenses by mine and mineral	(in thousands of US$)
Julcani, Gold		0		0		0		0
Julcani, Silver		54		90		147		169
Julcani, Lead		0		3		2		7
Julcani, Copper		0		0		0		0
Orcopampa, Gold		62		72		122		87
Orcopampa, Silver		0		0		0		0
Orcopampa, Copper		0		0		0		0
Uchucchacua, Gold		0		0		0		-1
Uchucchacua, Silver		483		905		1,259		1,430
Uchucchacua, Lead		18		210		108		299
Uchucchacua, Zinc		12		295		107		471
Tambomayo, Gold		672		714		1,026		908
Tambomayo, Silver		187		183		270		243
Tambomayo, Lead		60		63		79		102
Tambomayo, Zinc		27		118		85		190
La Zanja, Gold		30		124		50		178
La Zanja, Silver		2		3		0		6
El Brocal, Gold		24		79		145		133
El Brocal, Silver		60		450		291		616
El Brocal, Lead		48		355		283		558
El Brocal, Zinc		69		709		666		1,216
El Brocal, Copper		252		1,355		1,536		2,345
Non Mining Units		170		644		600		1,334
Consolidated Selling expenses		2,230		6,373		6,778		10,291

Compañía de Minas Buenaventura S.A.A.
First Quarter 2020 Results
Page 18 of 27

						JULCANI
				2Q 2020						2Q 2019
	GOLD (OZ)	SILVER (OZ)	LEAD (MT)	ZINC (MT)	COPPER (MT)	TOTAL	GOLD (OZ)	SILVER (OZ)	LEAD (MT)	ZINC (MT)	COPPER (MT)	TOTAL
Cost of Sales (without D&A) (US$000)	-	1,454	-0	-	-	1,454	18	5,746	211	-	15	5,990
Add:
Exploration Expenses (US$000)	-	324	-0	-	-	324	4	1,332	49	-	4	1,389
Commercial Deductions (US$000)	0	202	2	-	-1	204	2	724	26	-	2	755
Selling Expenses (US$000)	-	54.01	-0.01	-	-	54	0	90	3	-	0	94
Cost Applicable to Sales (US$000)	0	2,035	2	-	-1	2,036	24	7,893	290	-	21	8,228
Divide:
Volume Sold	-	119,531	25	-	-	Not Applicable	17	585,840	178	-	4	Not Applicable
CAS	-	17.02	73	-	-	Not Applicable	1,435	13.47	1,626	-	5,932	Not Applicable

						ORCOPAMPA
				2Q 2020						2Q 2019
	GOLD (OZ)	SILVER (OZ)	LEAD (MT)	ZINC (MT)	COPPER (MT)	TOTAL	GOLD (OZ)	SILVER (OZ)	LEAD (MT)	ZINC (MT)	COPPER (MT)	TOTAL
Cost of Sales (without D&A) (US$000)	618	2	-	-	-	620	12,538	57	-	-	-	12,595
Add:					-
Exploration Expenses (US$000)	480	1	-	-	-	481	3,575	16	-	-	-	3,591
Commercial Deductions (US$000)	36	0	-	-	-	36	59	1	-	-	-	60
Selling Expenses (US$000)	62	0	-	-	-	62	72	0	-	-	-	72
Cost Applicable to Sales (US$000)	1,196	4	-	-	-	1,199	16,244	74	-	-	-	16,318
Divide:
Volume Sold	3,675	851	-	-	-	Not Applicable	10,391	4,289	-	-	-	Not Applicable
CAS	325	4.51	-	-	-	Not Applicable	1,563	17.33	-	-	-	Not Applicable

						UCHUCCHACUA
				2Q 2020						2Q 2019
	GOLD (OZ)	SILVER (OZ)	LEAD (MT)	ZINC (MT)	COPPER (MT)	TOTAL	GOLD (OZ)	SILVER (OZ)	LEAD (MT)	ZINC (MT)	COPPER (MT)	TOTAL
Cost of Sales (without D&A) (US$000)	-	8,050	305	199	-	8,554	-	20,793	4,831	6,789	-	32,413
Add:
Exploration Expenses (US$000)	-	517	20	13	-	549	-	1,968	457	642	-	3,067
Commercial Deductions (US$000)	-	1,411	66	52	-	1,529	-0	6,657	843	4,921	-	12,420
Selling Expenses (US$000)	-	483	18	12	-	513	-	905	210	295	-	1,410
Cost Applicable to Sales (US$000)	-	10,460	409	275	-	11,145	-0	30,322	6,341	12,648	-	49,310
Divide:
Volume Sold	-	644,014	403	366	-	Not Applicable	-	2,923,280	5,349	4,860	-	Not Applicable
CAS	-	16.24	1,016	753	-	No Applicable	-	10.37	1,185	2,603	-	No Applicable

						TAMBOMAYO
				2Q 2020						2Q 2019
	GOLD (OZ)	SILVER (OZ)	LEAD (MT)	ZINC (MT)	COPPER (MT)	TOTAL	GOLD (OZ)	SILVER (OZ)	LEAD (MT)	ZINC (MT)	COPPER (MT)	TOTAL
Cost of Sales (without D&A) (US$000)	9,206	2,561	820	373	-	12,960	11,544	2,952	1,022	1,910	-	17,428
Add:
Exploration Expenses (US$000)	595	165	53	24	-	837	2,139	547	189	354	-	3,230
Commercial Deductions (US$000)	1,667	1,037	324	672	-	3,701	919	863	327	1,719	-	3,829
Selling Expenses (US$000)	672	187	60	27	-	946	714	183	63	118	-	1,078
Cost Applicable to Sales (US$000)	12,140	3,950	1,257	1,097	-	18,444	15,316	4,546	1,602	4,102	-	25,565
Divide:
Volume Sold	16,499	487,028	1,547	810	-	Not Applicable	27,468	589,667	1,794	2,000	-	Not Applicable
CAS	736	8.11	813	1,354	-	No Applicable	558	7.71	893	2,051	-	No Applicable

						JULCANI
				6M 2020						6M 2019
	GOLD (OZ)	SILVER (OZ)	LEAD (MT)	ZINC (MT)	COPPER (MT)	TOTAL	GOLD (OZ)	SILVER (OZ)	LEAD (MT)	ZINC (MT)	COPPER (MT)	TOTAL
Cost of Sales (without D&A) (US$000)	-	7,644	129	-	19	7,791	18	12,284	492	-	32	12,827
Add:
Exploration Expenses (US$000)	-	1,367	23	-	3	1,393	4	2,849	114	-	7	2,975
Commercial Deductions (US$000)	-16	1,043	17	-	3	1,048	2	1,495	60	-	5	1,562
Selling Expenses (US$000)	-	147	2	-	0	150	0	169	7	-	0	176
Cost Applicable to Sales (US$000)	-16	10,200	171	-	26	10,382	25	16,797	673	-	45	17,540
Divide:
Volume Sold	-	633,645	121	-	6	Not Applicable	17	1,219,407	389	-	8	No Aplicable
CAS	-	16.10	1,421	-	4,113	No Applicable	1,466	13.77	1,727	-	5,569	No Applicable

						ORCOPAMPA
				6M 2020						6M 2019
	GOLD (OZ)	SILVER (OZ)	LEAD (MT)	ZINC (MT)	COPPER (MT)	TOTAL	GOLD (OZ)	SILVER (OZ)	LEAD (MT)	ZINC (MT)	COPPER (MT)	TOTAL
Cost of Sales (without D&A) (US$000)	9,821	21	-	-	-	9,842	20,963	109	-	-	-	21,072
Add:
Exploration Expenses (US$000)	1,510	3	-	-	-	1,513	6,097	32	-	-	-	6,129
Commercial Deductions (US$000)	88	0	-	-	-	88	30	-1	-	-	-	29
Selling Expenses (US$000)	122	0	-	-	-	122	87	0	-	-	-	87
Cost Applicable to Sales (US$000)	11,540	25	-	-	-	11,565	27,177	141	-	-	-	27,317
Divide:
Volume Sold	12,690	2,584	-	-	-	Not Applicable	14,818	6,656	-	-	-	Not Applicable
CAS	909	9.70	-	-	-	No Applicable	1,834	21.13	-	-	-	No Applicable

						UCHUCCHACUA
				6M 2020						6M 2019
	GOLD (OZ)	SILVER (OZ)	LEAD (MT)	ZINC (MT)	COPPER (MT)	TOTAL	GOLD (OZ)	SILVER (OZ)	LEAD (MT)	ZINC (MT)	COPPER (MT)	TOTAL
Cost of Sales (without D&A) (US$000)	-	29,658	2,551	2,510	-	34,719	-12	35,187	7,351	11,594	-	54,119
Add:
Exploration Expenses (US$000)	-	2,266	195	192	-	2,653	-1	3,395	709	1,119	-	5,222
Commercial Deductions (US$000)	1	8,753	712	1,363	-	10,829	-3	11,446	1,234	6,241	-	18,919
Selling Expenses (US$000)	-	1,259	108	107	-	1,474	-1	1,430	299	471	-	2,200
Cost Applicable to Sales (US$000)	1	41,936	3,566	4,172	-	49,675	-17	51,458	9,593	19,425	-	80,460
Divide:
Volume Sold	-	2,524,344	2,375	2,240	-	Not Applicable	0	4,757,949	7,805	8,261	-	Not Applicable
CAS	-	16.61	1,501	1,862	-	No Applicable	-	10.82	1,229	2,351	-	No Applicable

						TAMBOMAYO
				6M 2020						6M 2019
	GOLD (OZ)	SILVER (OZ)	LEAD (MT)	ZINC (MT)	COPPER (MT)	TOTAL	GOLD (OZ)	SILVER (OZ)	LEAD (MT)	ZINC (MT)	COPPER (MT)	TOTAL
Cost of Sales (without D&A) (US$000)	17,234	4,532	1,329	1,429	-	24,525	19,556	5,225	2,190	4,097	-	31,069
Add:
Exploration Expenses (US$000)	933	245	72	77	-	1,327	4,075	1,089	456	854	-	6,474
Commercial Deductions (US$000)	2,234	1,496	498	1,439	-	5,668	2,510	1,615	726	3,277	-	8,128
Selling Expenses (US$000)	1,026	270	79	85	-	1,460	908	243	102	190	-	1,443
Cost Applicable to Sales (US$000)	21,427	6,544	1,978	3,031	-	32,980	27,050	8,172	3,475	8,418	-	47,114
Divide:
Volume Sold	21,785	597,690	1,828	1,802	-	Not Applicable	43,828	988,919	3,345	3,979	-	Not Applicable
CAS	984	10.95	1,082	1,682	-	No Applicable	617	8.26	1,039	2,115	-	Not Applicable

Compañía de Minas Buenaventura S.A.A.
First Quarter 2020 Results
Page 19 of 27

						LA ZANJA
				2Q 2020						2Q 2019
	GOLD (OZ)	SILVER (OZ)	LEAD (MT)	ZINC (MT)	COPPER (MT)	TOTAL	GOLD (OZ)	SILVER (OZ)	LEAD (MT)	ZINC (MT)	COPPER (MT)	TOTAL
Cost of Sales (without D&A) (US$000)	3,924	252	-	-	-	4,176	7,974	188	-	-	-	8,162
Add:
Exploration Expenses (US$000)	-	-	-	-	-	-	-	-	-	-	-	-
Commercial Deductions (US$000)	292	14	-	-	-	306	21	1	-	-	-	22
Selling Expenses (US$000)	30	2	-	-	-	32	124	3	-	-	-	127
Cost Applicable to Sales (US$000)	4,246	268	-	-	-	4,514	8,120	191	-	-	-	8,311
Divide:
Volume Sold	4,032	21,857	-	-	-	Not Applicable	5,521	11,548	-	-	-	Not Applicable
CAS	1,053	12.26	-	-	-	Not Applicable	1,471	16.58	-	-	-	Not Applicable

						BROCAL
				2Q 2020						2Q 2019
	GOLD (OZ)	SILVER (OZ)	LEAD (MT)	ZINC (MT)	COPPER (MT)	TOTAL	GOLD (OZ)	SILVER (OZ)	LEAD (MT)	ZINC (MT)	COPPER (MT)	TOTAL
Cost of Sales (without D&A) (US$000)	635	1,620	1,301	1,870	6,797	12,223	1,411	8,052	6,362	12,690	24,252	52,768
Add:
Exploration Expenses (US$000)	14	35	28	41	147	265	53	300	237	474	905	1,969
Commercial Deductions (US$000)	733	1,436	765	3,349	7,900	14,182	1,386	4,106	1,791	7,565	24,050	38,898
Selling Expenses (US$000)	24	60	48	69	252	453	79	450	355	709	1,355	2,948
Cost Applicable to Sales (US$000)	1,405	3,151	2,142	5,329	15,096	27,123	2,928	12,909	8,747	21,437	50,562	96,583
Divide:
Volume Sold	633	187,339	1,888	3,575	2,758	Not Applicable	2,457	1,228,153	7,850	10,211	9,186	Not Applicable
CAS	2,220	16.82	1,135	1,491	5,473	Not Applicable	1,192	10.51	1,114	2,099	5,504	Not Applicable

Prorrateo	5%	13%	11%	15%	56%		3%	15%	12%	24%	46%

	NON MINING COMPANIES
				2Q 2020						2Q 2019
	GOLD (OZ)	SILVER (OZ)	LEAD (MT)	ZINC (MT)	COPPER (MT)	TOTAL	GOLD (OZ)	SILVER (OZ)	LEAD (MT)	ZINC (MT)	COPPER (MT)	TOTAL
Cost of Sales (without D&A) (US$000)	-	-	-	-	-	1,185	-	-	-	-	-	171
Add:
Selling Expenses (US$000)	-	-	-	-	-	170	-	-	-	-	-	644
Total (US$000)	-	-	-	-	-	1,355	-	-	-	-	-	815

	BUENAVENTURA CONSOLIDATED
				2Q 2020						2Q 2019
	GOLD (OZ)	SILVER (OZ)	LEAD (MT)	ZINC (MT)	COPPER (MT)	TOTAL	GOLD (OZ)	SILVER (OZ)	LEAD (MT)	ZINC (MT)	COPPER (MT)	TOTAL
Cost of Sales (without D&A) (US$000)	14,383	13,939	2,426	2,442	6,797	41,172	33,485	37,789	12,426	21,389	24,267	129,528
Add:
Exploration Expenses (US$000)	1,088	1,043	101	77	147	2,456	5,771	4,164	933	1,470	908	13,246
Commercial Deductions (US$000)	2,729	4,100	1,157	4,073	7,899	19,958	2,387	12,352	2,987	14,205	24,053	55,984
Selling Expenses (US$000)	787	786	126	108	252	2,230	989	1,630	632	1,122	1,355	6,373
Cost Applicable to Sales (US$000)	18,987	19,868	3,810	6,701	15,095	65,816	42,632	55,935	16,979	38,186	50,584	205,131
Divide:
Volume Sold	24,839	1,460,620	3,862	4,751	2,758	Not Applicable	45,854	5,342,779	15,171	17,070	9,189	Not Applicable
CAS	764	13.60	987	1,411	5,473	Not Applicable	930	10.47	1,119	2,237	5,505	Not Applicable

						COIMOLACHE
				2Q 2020						2Q 2019
	GOLD (OZ)	SILVER (OZ)	LEAD (MT)	ZINC (MT)	COPPER (MT)	TOTAL	GOLD (OZ)	SILVER (OZ)	LEAD (MT)	ZINC (MT)	COPPER (MT)	TOTAL
Cost of Sales (without D&A) (US$000)	14,016	756	-	-	-	14,772	23,135	1,020	-	-	-	24,155
Add:
Exploration Expenses (US$000)	224	12	-	-	-	236	1,251	55	-	-	-	1,306
Commercial Deductions (US$000)	161	24	-	-	-	185	89	3	-	-	-	92
Selling Expenses (US$000)	394	21	-	-	-	415	195	9	-	-	-	204
Cost Applicable to Sales (US$000)	14,794	813	-	-	-	15,608	24,670	1,087	-	-	-	25,757
Divide:
Volume Sold	14,549	92,860	-	-	-	Not Applicable	34,455	134,856	-	-	-	Not Applicable
CAS	1,017	8.76	-	-	-	Not Applicable	716	8.06	-	-	-	Not Applicable

						LA ZANJA
				6M 2020						6M 2019
	GOLD (OZ)	SILVER (OZ)	LEAD (MT)	ZINC (MT)	COPPER (MT)	TOTAL	GOLD (OZ)	SILVER (OZ)	LEAD (MT)	ZINC (MT)	COPPER (MT)	TOTAL
Cost of Sales (without D&A) (US$000)	11,781	0	-	-	-	11,781	19,979	670	-	-	-	20,649
Add:
Exploration Expenses (US$000)	1	0	-	-	-	1	1	0	-	-	-	1
Commercial Deductions (US$000)	300	15	-	-	-	315	67	2	-	-	-	69
Selling Expenses (US$000)	50	0	-	-	-	50	178	6	-	-	-	184
Cost Applicable to Sales (US$000)	12,132	15	-	-	-	12,147	20,225	677	-	-	-	20,903
Divide:
Volume Sold	7,327	58,280	-	-	-	Not Applicable	18,142	51,234	-	-	-	Not Applicable
CAS	1,656	0.25	-	-	-	No Applicable	1,115	13.22	-	-	-	Not Applicable

						BROCAL
				6M 2020						6M 2019
	GOLD (OZ)	SILVER (OZ)	LEAD (MT)	ZINC (MT)	COPPER (MT)	TOTAL	GOLD (OZ)	SILVER (OZ)	LEAD (MT)	ZINC (MT)	COPPER (MT)	TOTAL
Cost of Sales (without D&A) (US$000)	2,757	5,524	5,369	12,628	29,104	55,382	2,766	12,844	11,653	25,364	48,924	101,550
Add:
Exploration Expenses (US$000)	79	157	153	360	829	1,578	106	494	449	976	1,883.25	3,909
Commercial Deductions (US$000)	2,595	4,263	3,116	14,526	27,555	52,054	2,585	6,486	2,968	14,550	46,234	72,824
Selling Expenses (US$000)	145	291	283	666	1,536	2,922	133	616	558	1,216	2,345	4,867
Cost Applicable to Sales (US$000)	5,576	10,235	8,920	28,180	59,024	111,936	5,590	20,440	15,628	42,106	99,386	183,150
Divide:
Volume Sold	3,272	653,704	7,033	16,013	11,217	Not Applicable	4,635	1,820,292	13,009	19,598	17,498	Not Applicable
CAS	1,704	15.66	1,268	1,760	5,262	No Applicable	1,206	11.23	1,201	2,149	5,680	Not Applicable

Prorrateo	5%	10%	10%	23%	53%		3%	13%	11%	25%	48%

	NON MINING COMPANIES
				6M 2020						6M 2019
	GOLD (OZ)	SILVER (OZ)	LEAD (MT)	ZINC (MT)	COPPER (MT)	TOTAL	GOLD (OZ)	SILVER (OZ)	LEAD (MT)	ZINC (MT)	COPPER (MT)	TOTAL
Cost of Sales (without D&A) (US$000)	-	-	-	-	-	2,940	-	-	-	-	-	2,538
Add:
Selling Expenses (US$000)	-	-	-	-	-	600	-	-	-	-	-	1,334
Total (US$000)	-	-	-	-	-	3,540	-	-	-	-	-	3,872

	BUENAVENTURA CONSOLIDATED
				6M 2020						6M 2019
	GOLD (OZ)	SILVER (OZ)	LEAD (MT)	ZINC (MT)	COPPER (MT)	TOTAL	GOLD (OZ)	SILVER (OZ)	LEAD (MT)	ZINC (MT)	COPPER (MT)	TOTAL
Cost of Sales (without D&A) (US$000)	41,593	47,378	9,377	16,568	29,123	146,980	63,270	66,319	21,686	41,054	48,956	243,824
Add:
Exploration Expenses (US$000)	2,522	4,039	443	629	833	8,465	10,283	7,859	1,728	2,949	1,891	24,710
Commercial Deductions (US$000)	5,202	15,570	4,343	17,328	27,558	70,001	5,191	21,044	4,988	24,068	46,239	101,531
Selling Expenses (US$000)	1,343	1,968	473	858	1,536	6,778	1,305	2,464	966	1,877	2,345	10,291
Cost Applicable to Sales (US$000)	50,660	68,955	14,636	35,383	59,050	232,224	80,049	97,686	29,369	69,948	99,431	380,355
Divide:
Volume Sold	45,075	4,470,246	11,357	20,055	11,223	Not Applicable	81,441	8,844,458	24,549	31,839	17,507	Not Applicable
CAS	1,124	15.43	1,289	1,764	5,262	Not Applicable	983	11.04	1,196	2,197	5,680	Not Applicable
	14%	40%	8%	-20%	-7%
						COIMOLACHE
				6M 2020						6M 2019
	GOLD (OZ)	SILVER (OZ)	LEAD (MT)	ZINC (MT)	COPPER (MT)	TOTAL	GOLD (OZ)	SILVER (OZ)	LEAD (MT)	ZINC (MT)	COPPER (MT)	TOTAL
Cost of Sales (without D&A) (US$000)	34,645	2,568	-	-	-	37,213	40,708	1,647	-	-	-	42,355
Add:
Exploration Expenses (US$000)	814	60	-	-	-	874	2,513	102	-	-	-	2,615
Commercial Deductions (US$000)	339	37	-	-	-	376	172	7	-	-	-	178
Selling Expenses (US$000)	498	37	-	-	-	535	309	13	-	-	-	322
Cost Applicable to Sales (US$000)	36,297	2,702	-	-	-	38,998	43,702	1,769	-	-	-	45,470
Divide:
Volume Sold	38,528	290,930	-	-	-	Not Applicable	60,646	210,626	-	-	-	Not Applicable
CAS	942	9.29	-	-	-	No Applicable	721	8.40	-	-	-	Not Applicable

Compañía de Minas Buenaventura S.A.A.
First Quarter 2020 Results
Page 20 of 27

APPENDIX 5: ALL-IN SUSTAINING COST

All-in Sustaining Cost for 2Q20

	Buenaventura¹				La Zanja				Tantahuatay				Attributable ²
		2Q20				2Q20				2Q20				2Q20
Au Ounces Sold Net				20,174				4,032				14,549				28,147

		2Q20				2Q20				2Q20				2Q20
Income Statement & Cash Flow	US$ 000'		US$/Oz Au		US$ 000'		US$/Oz Au		US$ 000'		US$/Oz Au		US$ 000'		US$/Oz Au

Cost of Sales		27,512		1,364		4,564		1,132		14,772		695		35,856		1,274
Exploration in Operating Units		2,190		109		1		0		236		50		2,285		81
Royalties		497		25		0		0		0		0		497		18
Comercial Deductions³		5,470		271		306		76		185		3		5,706		203
Selling Expenses		1,648		82		32		8		415		5		1,831		65
Administrative Expenses		9,083		450		433		107		1,042		46		9,731		346
Other, net		13,511		670		217		54		-196		8		13,548		481
Sustaining Capex⁴		477		24		370		92		1,435		153		1,248		44

By-product Credit		-24,922		-1,235		-454		-113		-1,352		-47		-783		-28

All-in Sustaining Cost		35,465		1,758		5,452		1,352		16,536		1,137		44,988		1,598

*All-in Sustaining Cost does not include: Depreciation and Amortization, Stoppage of mining units, Exploration in non-operating areas.


Notes:
1. Non-consolidated financial statements for Compañia De Minas Buenaventura S.A.A.
2. Considers 100% from Compañia De Minas Buenaventura S.A.A., 53.06% from La Zanja and 40.095% from Tantahuatay.
3. For all metals produced.
4. Sustaining Capex + Growth Capex equals Acquisitions of mining concessions, development costs, property, plant and equipment.

Compañía de Minas Buenaventura S.A.A.
First Quarter 2020 Results
Page 21 of 27

Buenaventura

All-in Sustaining Cost for 2Q19


	Buenaventura¹				La Zanja				Tantahuatay				Attributable ²
	2Q19				2Q19				2Q19				2Q19
	37,876				5,521				34,455				54,620

	2Q19				2Q19				2Q19				2Q19
Income Statement & Cash Flow	US$ 000'		US$/Oz Au		US$ 000'		US$/Oz Au		US$ 000'		US$/Oz Au		US$ 000'		US$/Oz Au

Cost of Sales³		73,698		1,946		8,317		1,506		24,154		701		87,796		1,607
Exploration in Operating Units		11,277		298		0		0		1,306		38		11,801		216
Royalties		1,117		29		0		0		0		0		1,117		20
Comercial Deductions⁴		17,064		451		22		4		92		3		17,113		313
Selling Expenses		2,824		75		127		23		204		6		2,973		54
Administrative Expenses		11,423		302		749		136		1,177		34		12,292		225
Other, net		-2,961		-78		172		31		-65		-2		-2,896		-53
Sustaining Capex⁵		5,775		152		1,143		207		4,433		129		8,158		149

By-product Credit		-94,319		-2,490		-169		-31		-1,995		-58		-95,209		-1,743

All-in Sustaining Cost		25,898		684		10,361		1,877		29,306		851		43,145		790

Notes:
1. Non-consolidated financial statements for Compañia De Minas Buenaventura S.A.A.
2. Considers 100% from Compañia De Minas Buenaventura S.A.A., 53.06% from La Zanja and 40.095% from Tantahuatay.
3. For Buenaventura does not consider purchase of concentrate from La Zanja.
4. For all metals produced.
5. Sustaining Capex + Growth Capex equals Acquisitions of mining concessions, development costs, property, plant and equipment.

Compañía de Minas Buenaventura S.A.A.
First Quarter 2020 Results
Page 22 of 27

All-in Sustaining Cost for 1S20

	Buenaventura¹				La Zanja				Tantahuatay				Attributable ²
		1S20				1S20				1S20				1S20
Au Ounces Sold Net				34,475				7,327				38,528				53,811

		1S20				1S20				1S20				1S20
Income Statement & Cash Flow	US$ 000'		US$/Oz Au		US$ 000'		US$/Oz Au		US$ 000'		US$/Oz Au		US$ 000'		US$/Oz Au

Cost of Sales		87,289		2,532		12,119		1,654		37,213		966		108,640		2,019
Exploration in Operating Units		6,886		200		1		0		874		23		7,237		134
Royalties		1,633		47		0		0		0		0		1,633		30
Comercial Deductions³		17,632		511		315		43		376		10		17,950		334
Selling Expenses		3,432		100		50		7		535		14		3,673		68
Administrative Expenses		21,055		611		1,025		140		2,133		55		22,454		417
Other, net		10,900		316		283		39		242		6		11,147		207
Sustaining Capex⁴		3,285		95		494		67		2,113		55		4,394		82

By-product Credit		-77,041		-2,235		-1,009		-138		-4,728		-123		-2,431		-45

All-in Sustaining Cost		75,071		2,178		13,278		1,812		38,758		1,006		97,656		1,815

*All-in Sustaining Cost does not include: Depreciation and Amortization, Stoppage of mining units, Exploration in non-operating areas.

Notes:
1. Non-consolidated financial statements for Compañia De Minas Buenaventura S.A.A.
2. Considers 100% from Compañia De Minas Buenaventura S.A.A., 53.06% from La Zanja and 40.095% from Tantahuatay.
3. For all metals produced.
4. Sustaining Capex + Growth Capex equals Acquisitions of mining concessions, development costs, property, plant and equipment.

Compañía de Minas Buenaventura S.A.A.
First Quarter 2020 Results
Page 23 of 27

Buenaventura
All-in Sustaining Cost for 1S19

	Buenaventura¹				La Zanja				Tantahuatay				Attributable ²
		1S19				1S19				1S19				1S19
Au Ounces Sold Net				58,664				18,142				60,				92,606

		1S19				1S19				1S19				1S19
Income Statement & Cash Flow	US$ 000'		US$/Oz Au		US$ 000'		US$/Oz Au		US$ 000'		US$/Oz Au		US$ 000'		US$/Oz Au

Cost of Sales³		131,152		2,236		21,249		1,171		42,354		698		159,409		1,721
Exploration in Operating Units		20,800		355		1		0		2,615		43		21,849		236
Royalties		1,557		27		0		0		0		0		1,557		17
Comercial Deductions⁴		28,691		489		69		4		178		3		28,799		311
Selling Expenses		4,243		72		184		10		322		5		4,470		48
Administrative Expenses		23,422		399		1,558		86		2,381		39		25,203		272
Other, net		5,425		92		820		45		151		2		5,921		64
Sustaining Capex⁵		8,389		143		1,209		67		8,443		139		12,415		134

By-product Credit		-162,234		-2,765		-799		-44		-3,220		-53		-163,949		-1,770

All-in Sustaining Cost		61,445		1,047		24,291		1,339		53,224		878		95,673		1,033

*All-in Sustaining Cost does not include: Depreciation and Amortization, Stoppage of mining units, Exploration in non-operating areas.

Notes:
1. Non-consolidated financial statements for Compañia De Minas Buenaventura S.A.A.
2. Considers 100% from Compañia De Minas Buenaventura S.A.A., 53.06% from La Zanja and 40.095% from Tantahuatay.
3. For Buenaventura does not consider purchase of concentrate from La Zanja.
4. For all metals produced.
5. Sustaining Capex + Growth Capex equals Acquisitions of mining concessions, development costs, property, plant and equipment.

Compañía de Minas Buenaventura S.A.A.
First Quarter 2020 Results
Page 24 of 27

APPENDIX 6

Compañía de Minas Buenaventura S.A.A. and Subsidiaries
Consolidated Statement of Financial Position
As of June 30, 2020 and December 31, 2019
	2020			2019
Assets	US$(000)			US$(000)
Current assets
Cash and cash equivalents		195,513			210,046
Trade and other accounts receivable, net		174,718			287,712
Inventory, net		118,722			97,973
Income tax credit		16,488			31,919
Prepaid expenses		13,435			20,969
Hedge derivative financial instruments		19			-
		518,895			648,619

Non-current assets
Trade and other receivables, net		84,620			88,515
Inventories, net		526			394
Investment in associates and joint venture		1,481,977			1,488,247
Mining concessions, development costs, right-of-use, property, plant and equipment, net		1,689,066			1,754,372
Investment properties, net		194			204
Deferred income tax asset, net		76,971			74,556
Prepaid expenses		25,249			25,692
Other assets		26,947			26,675
		3,385,550			3,458,655

Total assets		3,904,445			4,107,274


Liabilities and shareholders’ equity, net
Current liabilities
Bank loans		57,208			55,000
Trade and other payables		103,571			166,244
Provisions, contingent liabilities and other liabilities		76,450			72,771
Income tax payable		1,285			5,650
Financial obligations		151,148			265,692
		389,662			565,357


Non-current liabilities
Trade and other payables		-			616
Provisions, contingent liabilities and other liabilities		215,030			221,736
Financial obligations		403,249			305,996
Contingent consideration liability		16,410			16,410
Deferred income tax liabilities, net		30,108			28,959
		664,797			573,717

Total liabilities		1,054,459			1,139,074

Shareholders’ equity, net
Capital stock		750,497			750,497
Investment shares		791			791
Additional paid-in capital		218,450			218,450
Legal reserve		163,168			163,168
Other reserves		269			269
Retained earnings		1,540,892			1,639,658
Other reserves of equity		(1,756	)		(1,311	)
Shareholders’ equity, net attributable to owners of the parent		2,672,311			2,771,522
Non-controlling interest		177,675			196,678
Total shareholders’ equity, net		2,849,986			2,968,200

Total liabilities and shareholders’ equity, net		3,904,445			4,107,274

Compañía de Minas Buenaventura S.A.A.
First Quarter 2020 Results
Page 25 of 27

Compañía de Minas Buenaventura S.A.A. and Subsidiaries
Consolidated Statement of Income
For the three-month and six-month periods ended June 30, 2020 and 2019


	For the three-month period ended June 30,						For the six-month period ended June 30,
	2020			2019			2020			2019
Continuing operations	US$(000)			US$(000)			US$(000)			US$(000)
Operating income
Net sales of goods		91,598			206,503			197,317			383,635
Net sales of services		2,628			4,267			5,685			7,737
Royalty income		3,559			5,375			9,285			10,835
Total operating income		97,785			216,145			212,287			402,207

Operating costs
Cost of sales of goods, without considering depreciation and amortization		(41,020	)		(129,390	)		(146,377	)		(242,341	)
Cost of sales of services, without considering depreciation and amortization		(152	)		(138	)		(603	)		(1,483	)
Depreciation and amortization		(28,537	)		(58,774	)		(65,178	)		(108,518	)
Exploration in operating units		(2,456	)		(13,246	)		(8,465	)		(24,710	)
Mining royalties		(1,216	)		(3,310	)		(3,575	)		(5,404	)
Total operating costs		(73,381	)		(204,858	)		(224,198	)		(382,456	)

Gross profit		24,404			11,287			(11,911	)		19,751

Operating expenses, net
Administrative expenses		(14,914	)		(17,988	)		(33,035	)		(37,404	)
Selling expenses		(2,230	)		(6,373	)		(6,778	)		(10,291	)
Exploration in non-operating areas		(1,708	)		(3,358	)		(3,465	)		(6,768	)
Reversal (provision) for contingencies and others		1,087			(241	)		850			1,262
Other, net		(24,519	)		1,327			(23,196	)		(8,970	)
Total operating expenses, net		(42,284	)		(26,633	)		(65,624	)		(62,171	)

Operating profit (loss)		(17,880	)		(15,346	)		(77,535	)		(42,420	)

Other income (expense), net
Share in the results of associates and joint ventures		3,904			22,705			(18,146	)		72,217
Financial costs		(7,346	)		(10,156	)		(15,720	)		(21,685	)
Net gain (loss) from currency exchange difference		(2,019	)		(238	)		(3,115	)		(217	)
Financial income		548			1,825			1,312			4,045
Total other income (expense), net		(4,913	)		14,136			(35,669	)		54,360

Profit (loss) before income tax		(22,793	)		(1,210	)		(113,204	)		11,940

Current income tax		(1,122	)		(1,746	)		(3,107	)		(3,743	)
Deferred income tax		(5,502	)		10,747			1,272			25,995

Profit (loss) from continuing operations		(29,417	)		7,791			(115,039	)		34,192

Discontinued operations
Loss from discontinued operations attributable to equity holders of the parent		(1,335	)		(2,124	)		(2,812	)		(4,514	)
Net profit (loss)		(30,752	)		5,667			(117,851	)		29,678

Attributable to:
Owners of the parent		(25,112	)		9,700			(100,107	)		36,964
Non-controlling interest		(5,640	)		(4,033	)		(17,744	)		(7,286	)
		(30,752	)		5,667			(117,851	)		29,678

Basic and diluted profit (loss) per share attributable to
equity holders of the parent, stated in U.S. dollars		(0.10	)		0.04			(0.39	)		0.15

Compañía de Minas Buenaventura S.A.A.
First Quarter 2020 Results
Page 26 of 27

Compañía de Minas Buenaventura S.A.A. and Subsidiaries
Consolidated Statement of Cash Flows
For the three and six-month periods ended June 30, 2020 and 2019

	For the three-month period ended June 30,						For the six-month period ended June 30,
	2020			2019			2020			2019
	US$(000)			US$(000)			US$(000)			US$(000)

Operating activities
Proceeds from sales		102,891			209,222			310,846			391,994
Value Added Tax recovered		10,485			12,902			14,827			22,285
Royalty received		6,769			5,475			12,495			10,935
Proceeds from dividends		5,132			28,440			5,132			29,376
Interest received		323			-			1,483			523
Payments to suppliers and third-parties, and other net		(92,552	)		(147,770	)		(238,326	)		(321,895	)
Payments to employees		(31,142	)		(31,566	)		(65,554	)		(73,176	)
Payments of income taxes and royalties paid to State		(7,907	)		(4,325	)		(13,978	)		(10,050	)
Payments of interest		(6,333	)		(8,054	)		(12,626	)		(14,579	)
Payments of mining royalties		(497	)		(1,136	)		(1,633	)		(1,577	)

Net cash and cash equivalents provided by (used in) operating activities		(12,831	)		63,188			12,666			33,836

Investing activities
Proceeds from sales of mining concessions, property, plant and equipment		147			275			21,184			422
Acquisitions of mining concessions, development costs, property, plant and equipment		(11,435	)		(27,768	)		(21,481	)		(36,284	)
Purchase of shares		-			-			(13,453	)		-
Payments to other assets		(115	)		(986	)		(806	)		(1,428	)

Net cash and cash equivalents used in investing activities		(11,403	)		(28,479	)		(14,556	)		(37,290	)

Financing activities
Proceeds of bank loans		2,208			-			7,208			5,000
Payments of bank loans		-			-			(5,000	)		(45,000	)
Payments of financial obligations		(4,342	)		(12,881	)		(14,030	)		(23,228	)
Dividends paid to controlling shareholders		-			(15,240	)		-			(15,240	)
Dividends paid to non-controlling interest		-			(1,500	)		(1,280	)		(3,100	)
Decrease (increase) of restricted bank accounts		293			(448	)		459			(144	)

Net cash and cash equivalents used in financing activities		(1,841	)		(30,069	)		(12,643	)		(81,712	)

Net increase (decrease) in cash and cash equivalents during the period		(26,075	)		4,640			(14,533	)		(85,166	)
Cash and cash equivalents at the beginning of the period		221,588			279,394			210,046			369,200

Cash and cash equivalents at period-end		195,513			284,034			195,513			284,034

Compañía de Minas Buenaventura S.A.A.
First Quarter 2020 Results
Page 27 of 27


	For the three-month period ended June 30,						For the six-month period ended June 30,
	2020			2019			2020			2019
	US$(000)			US$(000)			US$(000)			US$(000)

Reconciliation of net profit to cash and cash equivalents provided
by operating activities

Net profit (loss)		(30,752	)		5,667			(117,851	)		29,678

Plus (less):
Depreciation and amortization in cost of sales		28,537			58,774			65,178			108,518
Depreciation and amortization in other, net		8,422			31			8,511			528
Depreciation and amortization in administration expenses		958			823			1,875			1,779
Net share in results of associates and joint venture		(3,904	)		(22,705	)		18,146			(72,217	)
Reversal (provision) for impairment loss of inventories		3,771			(3,052	)		14,457			(2,123	)
Bonus provision - executives & employes		3,686			5,112			8,028			9,782
Accretion expense of provision for closure of mining units and exploration projects		1,672			2,136			3,265			5,800
Net loss (gain) from currency exchange difference		2,019			238			3,115			217
Provision for estimated fair value of sales		(17,785	)		10,721			1,159			4,687
Deferred income tax expense (income)		5,502			(10,747	)		(1,272	)		(25,995	)
Recovery (expense) for provision for contingencies		(1,087	)		241			(850	)		(1,262	)
Hedge derivative instruments		-			(536	)		-			(3,022	)
Other net		(5,475	)		(3,089	)		6,700			(11	)


Net changes in operating assets and liabilities:
Decrease (increase) in operating assets -
Trade and other accounts receivable		13,903			17,784			94,220			10,176
Inventories		(7,495	)		13,168			(35,338	)		11,363
Income tax credit		14,519			(4,435	)		15,431			(907	)
Prepaid expenses		4,396			961			7,977			308
Increase (decrease) in operating liabilities -
Trade and other accounts payable		(31,268	)		(26,604	)		(63,289	)		(50,990	)
Provisions, contingent liabilities and other liabilities		(3,561	)		(9,594	)		(17,563	)		(21,626	)
Income tax payable		(4,021	)		(146	)		(4,365	)		(223	)

Proceeds from dividends		5,132			28,440			5,132			29,376

Net cash and cash equivalents provided by operating activities		(12,831	)		63,188			12,666			33,836

Signature

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

COMPAÑÍA DE MINAS BUENAVENTURA S.A.A.

By: /s/ LEANDRO GARCÍA RAGGIO

Name: Leandro García Raggio

Title: Chief Financial Officer

Date: July 30, 2020

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