Buenaventura Announces Third Quarter 2020 Production Results
October 20 2020 - 5:23PM
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 3Q20 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 have been
achieved.
3Q20 Production per
Metal
(100% Basis)
Tambomayo
1Q
2Q
July
Aug
Sept
3Q
9M20
Au [Oz]
14,549
17,121
4,007
5,891
6,210
16,108
47,778
Ag [Oz]
385,532
410,010
86,292
154,874
154,746
395,913
1,191,454
Pb [MT]
1,194
1,190
408
509
555
1,472
3,856
Zn [MT]
1,267
831
318
401
574
1,292
3,390
Orcopampa
1Q
2Q
July
Aug
Sept
3Q
9M20
Au [Oz]
8,160
7,612
4,384
6,777
3,936
15,096
30,869
Coimolache
1Q
2Q
July
Aug
Sept
3Q
9M20
Au [Oz]
22,493
13,551
8,399
8,115
9,959
26,473
62,517
La Zanja
1Q
2Q
July
Aug
Sept
3Q
9M20
Au [Oz]
3,297
3,028
1,610
2,076
1,401
5,087
11,411
Yanacocha
1Q
2Q
July
Aug
Sept
3Q
9M20
Au [Oz]
121,802
67,827
25,901
26,543
27,430
79,874
269,503
Julcani
1Q
2Q
July
Aug
Sept
3Q
9M20
Ag [Oz]
550,552
136,177
0
0
323,495
323,495
1,010,224
Pb [MT]
149
29
0
0
76
76
254
Uchucchacua
1Q
2Q
July
Aug
Sept
3Q
9M20
Ag [Oz]
1,956,463
979,008
0
200,149
590,164
790,313
3,725,784
Pb [MT]
2,273
753
0
225
531
756
3,782
Zn [MT]
2,360
462
0
212
716
928
3,750
El Brocal
1Q
2Q
July
Aug
Sept
3Q
9M20
Au [Oz]
4,054
1,049
1,039
1,080
1,236
3,354
8,457
Ag [Oz]
678,067
248,693
400,846
487,026
591,455
1,479,327
2,406,087
Pb [MT]
5,460
2,188
2,628
2,188
3,367
8,182
15,830
Zn [MT]
15,058
4,385
8,195
6,564
7,517
22,277
41,719
Cu [MT]
9,122
3,045
3,132
2,754
3,303
9,190
21,356
Additional Comments
- Tambomayo: Achieved pre-Covid operating levels since
September.
- Orcopampa: Operated at pre-Covid levels for the duration
of the quarter.
- Coimolache: Ramp-up process continued during July until
August, and reached pre-Covid operating levels since
September.
- La Zanja: Operating at pre-Covid levels since
August.
- Julcani: Operating at pre-Covid levels since September,
when Julcani also treated prior month inventories. September
production therefore reached above-average levels.
- Uchucchacua: The only remaining Buenaventura mine not
yet operating at pre-Covid levels. This is primarily due to a
reduced workforce, and shortage of workers required to successfully
operate at full capacity.
- El Brocal: Operated at pre-Covid levels for the duration
of the quarter. During the quarter Plant #2 was halted for nine
consecutive days in August as part of the Planned Preventive
Maintenance (PPM) for this mine.
It is important to note that the Company’s third and fourth
quarter mining strategy is to focus operations within high-grade
areas to offset COVID-19’s adverse impact on operations.
3Q20 Payable Volume Sold (100%
basis)
1Q20
(Actual)
2Q20
(Actual)
3Q20
(Actual)
9M20
(Actual)
Gold (Oz.)
Orcopampa
9,016
3,675
17,159
29,849
Tambomayo
5,286
16,499
17,849
39,634
La Zanja
3,295
4,032
5,346
12,673
Coimolache
23,978
14,549
25,901
64,428
El Brocal
2,639
633
2,038
5,310
Silver (Oz.)
Uchucchacua
1,880,330
644,014
875,489
3,399,834
El Brocal
466,365
187,339
1,182,127
1,835,831
Tambomayo
110,661
487,028
406,946
1,004,636
Julcani
514,114
119,531
289,258
922,903
Lead (MT)
El Brocal
5,145
1,888
7,017
14,050
Uchucchacua
1,972
403
738
3,113
Tambomayo
282
1,547
1,680
3,508
Julcani
95
25
58
179
Zinc (MT)
El Brocal
12,438
3,575
18,589
34,603
Uchucchacua
1,874
366
699
2,939
Tambomayo
992
810
1,058
2,860
Copper (MT)
El Brocal
8,458
2,758
8,799
20,015
Realized Metal Prices* Gold (Oz)
1,692
1,775
1,939
1,835
Silver (Oz)
17.16
16.67
27.19
20.92
Lead (MT)
1,653
1,460
1,659
1,620
Zinc (MT)
1,824
1,112
2,349
2,005
Copper (MT)
5,536
5,085
6,448
5,875
*Buenaventura consolidated figures
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. and Sumitomo Corporation).
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/20201020006283/en/
Lima: Daniel Dominguez, Chief Financial Officer
(511) 419 2540
Rodrigo Echecopar, Head of Investor Relations (511)
419 2591 / rodrigo.echecopar@buenaventura.pe
NY: Barbara Cano (646) 452 2334
barbara@inspirgroup.com
Company Website: www.buenaventura.com.pe/ir
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