Buenaventura Announces Second Quarter 2021 Production and Volume Sold Per Metal Results
July 27 2021 - 6:08PM
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 2Q21 production and volume sold.
2Q21 Production per Metal and 2021 Guidance (100%
basis) 1Q21(Actual)
2Q21 (Actual) 6M21 (Actual)
Updated 2021Guidance (1) (2)
Gold (Oz.)
Orcopampa
5,986
9,130
15,116
40k - 45k
Tambomayo
15,347
17,964
33,311
69k - 75k
La Zanja
3,908
4,447
8,355
12k - 15k
Coimolache
26,133
30,378
56,510
99k - 106k
Yanacocha
62,125
66,563
128,688
315k (3)
El Brocal
3,067
4,317
7,384
20k - 25k
Silver
(Oz.)
Uchucchacua
1,243,916
1,268,082
2,511,997
6.0M - 7.0M
El Brocal
1,574,305
1,603,208
3,177,513
5.4M - 6.0M
Tambomayo
284,677
432,638
717,315
1.2M - 1.4M
Julcani
648,854
570,248
1,219,102
2.1M - 2.4M
Lead (MT)
El Brocal
2,140
2,812
4,952
10.0k - 12.0k
Uchucchacua
1,292
1,715
3,006
5.0k - 7.0k
Tambomayo
1,504
2,767
4,271
5.9k - 6.5k
Zinc (MT)
El
Brocal
10,207
8,612
18,819
40.0k - 45.0k
Uchucchacua
1,246
3,029
4,275
7.0k - 10.0k
Tambomayo
1,821
3,671
5,491
6.9k - 7.5k
Copper (MT)
El Brocal
7,965
10,494
18,460
37.0k - 42.0k
1. Above 2021 projections are considered forward-looking statements
and represent management’s good faith estimates or expectations of
future production results as of July 2021.
2. Updated guidance could potentially be
adversely impacted due to further effects related to COVID-19.
3. As announced by Newmont on February 18,
2021.
Additional Comments
- Tambomayo: 2Q21 gold production was aligned with
expected mine ramp-up for 2021 and was favorably impacted by more
stable operations at Tambomayo’s processing plant. 2021 gold
production guidance remains unchanged. 2Q21 silver production was
in line with expectations. 2021 silver production guidance remains
unchanged.
- Orcopampa: 2Q21 gold production progressed slightly
below the planned ramp-up due to less ore treated during the
quarter resulting from Covid-19 related personnel restrictions.
Additional staff and resources have been re-allocated to expedite
Orcopampa mine development and production for the balance of the
year. 2021 guidance remains unchanged.
- Coimolache: 2Q21 gold production was in line with
expectations. 2021 guidance remains unchanged.
- La Zanja: 2Q21 gold production was in line with
expectations. 2021 guidance remains unchanged.
- Julcani: 2Q21 silver production was in line with
expectations. 2021 guidance remains unchanged.
- Uchucchacua: 2Q21 silver, lead and zinc production was
below expectations due to lower production from high grade Ag areas
resulting from Covid-19 restriction-related delays in mine
development, a slower than anticipated transition to narrow vein
mining and a negative reconciliation. This was partially offset by
increased production from polymetallic stopes and 4 Oz Ag/t
tailings reprocessed during the quarter. Therefore, guidance has
been updated to 6.0 – 7.0 M Oz Ag for 2021 with more conservative
development and mining rate projections due to Covid-19 related
restrictions. The mining plan is still under review.
- El Brocal: Marcapunta’s 2Q21 copper production was in
line with expectations. 2021 copper production guidance remains
unchanged. Tajo Norte’s zinc production was below expectations due
to stripping delays with a negative reconciliation. 2021 zinc
production guidance was updated to 40.0-45.0k mt.
2Q21 Payable Volume Sold
2Q21 Volume sold per Metal (100% basis)
1Q21
(Actual)
2Q21
(Actual)
6M21
(Actual)
Gold (Oz.) Orcopampa
5,698
9,618
15,316
Tambomayo
14,631
16,652
31,283
La Zanja
3,897
4,455
8,352
Coimolache
28,094
29,815
57,909
El Brocal
1,951
2,805
4,756
Silver (Oz.)
Uchucchacua
1,029,816
1,226,055
2,255,872
El Brocal
1,244,168
1,325,553
2,569,720
Tambomayo
257,290
380,029
637,319
Lead (MT)
El Brocal
2,239
2,597
4,836
Uchucchacua
1,014
1,450
2,463
Tambomayo
1,440
2,575
4,015
Julcani
113
91
204
Zinc (MT)
El Brocal
8,491
7,117
15,608
Uchucchacua
914
2,309
3,223
Tambomayo
1,401
3,049
4,451
Copper (MT)
El Brocal
7,536
9,948
17,485
Realized Metal Prices*
1Q21
(Actual)
2Q21
(Actual)
6M21
(Actual)
Gold (Oz)
1,726
1,815
1,776
Silver (Oz)
26.98
27.06
27.02
Lead (MT)
2,129
2,192
2,166
Zinc (MT)
3,220
3,010
3,108
Copper (MT)
8,994
10,033
9,585
*Buenaventura consolidated figures.
Appendix
1. 2Q21 Production per
Metal
1Q21 (Actual)
2Q21 (Actual)
6M21 (Actual)
Gold (Oz.)
Julcani
13
48
61
Silver (Oz.)
Orcopampa
1,043
1,781
2,823
La Zanja
27,042
20,519
47,561
Coimolache
200,993
166,327
367,320
Yanacocha
187,057
33,338
220,395
Lead (MT)
Julcani
146
123
269
2. 2Q21 Volume Sold per
Metal
1Q21 (Actual)
2Q21 (Actual)
6M21 (Actual)
Gold (Oz.)
Julcani
10
46
56
Silver (Oz.)
Orcopampa
1,878
1,518
3,396
La Zanja
28,964
24,710
53,673
Coimolache
215,648
178,729
394,377
Lead (MT)
Julcani
113
91
204
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 2018 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/20210727006167/en/
Contacts in Lima: Daniel Dominguez, Chief Financial Officer
(511) 419 2540 Rodrigo Echecopar, Head of Investor Relations (511)
419 2591 / rodrigo.echecopar@buenaventura.pe Company Website:
www.buenaventura.com.pe/ir Contact in NY: Barbara Cano (646) 452
2334 barbara@inspirgroup.com
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