LIMA, Peru--(BUSINESS WIRE)--April 21, 2022--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
1Q22 results for production and volume sold.
|
1Q22 Production per Metal
(100% basis)
|
|
1Q22
(Actual)
|
|
2022
Guidance (1)
(2)
|
|
|
|
|
|
Gold (Oz.) |
|
|
|
|
Orcopampa |
19,031
|
|
57k - 65k
|
|
Tambomayo |
13,867
|
|
45k - 50k
|
|
La Zanja |
5,900
|
|
37k - 45k
|
|
Coimolache |
19,512
|
|
75k - 80k
|
|
El Brocal |
4,350
|
|
10k - 13k
|
| |
|
|
|
|
Silver (Oz.) |
|
|
|
|
Uchucchacua |
0
|
|
0
|
|
El Brocal |
1,059,666
|
|
4.2M - 4.8M
|
|
Tambomayo |
419,396
|
|
1.8M - 2.4M
|
|
Julcani |
661,132
|
|
2.2M - 2.5M
|
|
|
|
|
|
Lead (MT) |
|
|
|
|
El Brocal |
2,497
|
|
7.0k - 10.0k
|
|
Uchucchacua |
0
|
|
0
|
|
Tambomayo |
2,509
|
|
4.0k - 6.0k
|
|
|
|
|
|
Zinc (MT) |
|
|
|
|
El Brocal |
8,772
|
|
18.0k - 22.0k
|
|
Uchucchacua |
0
|
|
0
|
|
Tambomayo |
3,543
|
|
5.0k - 7.0k
|
| |
|
|
|
|
Copper (MT) |
|
|
|
|
El Brocal |
10,159
|
|
40.0k - 45.0k
|
| 1. |
|
2022 outlook
projections shown above are considered forward-looking statements
and represent management’s good faith estimates or expectations of
future production results as of April 2022.
|
|
2.
|
|
Please consider
that this guidance could potentially be adversely impacted due to
further effects related to COVID-19.
|
Tambomayo:
- 1Q22 gold production exceeded first quarter 2022 projections
due to a.) gold grade which was higher than anticipated and b.)
production from a high-grade pillar which was carried forward from
the fourth quarter 2021 to the first quarter 2022.
- 1Q22 silver production was below projections, partially offset
by higher zinc and lead production for the quarter.
Orcopampa:
- 1Q22 gold production was above projections for the quarter due
to higher than anticipated tonnage and grade
Coimolache:
- 1Q22 gold production was above projections for the quarter
primarily due to favorable geological reconciliation of both
increased tonnage and grade
La Zanja:
- 1Q22 gold production was below projections for the quarter due
to lower than expected haulage fleet performance due to Peru’s
rainy season.
Julcani:
- 1Q22 silver production was above projections for the quarter
due to higher than anticipated grade.
Uchucchacua:
- Exploration tunneling and diamond drilling continues according
to plan with an emphasis on the Nora-Geraldine orebody.
- Yumpag mine development began ramp-up during 1Q22 with a new
contractor, also with exploration progressing as planned for the
Camila and Tomasa orebodies.
El Brocal:
- Copper, lead and zinc production was in line with expectations
for 1Q22.
- Silver production was below projections for the quarter due to
lower than expected open pit grades.
- A landslide within the mine’s open pit occurred on March 19,
2022 resulting in the death of 3 workers. The exact cause of the
landslide is under further investigation.
1Q22 Payable Volume Sold
| |
|
1Q22 Volume Sold per
Metal (100% basis)
|
|
|
|
1Q22
(Actual)
|
|
|
|
Gold (Oz.) |
|
|
Orcopampa |
19,307
|
|
Tambomayo |
12,181
|
|
La Zanja |
5,773
|
|
Coimolache |
20,586
|
|
El Brocal |
2,907
|
|
|
|
Silver (Oz.) |
|
|
Uchucchacua |
18,730
|
|
El Brocal |
852,933
|
|
Tambomayo |
351,077
|
|
Julcani |
636,303
|
|
|
|
Lead (MT) |
|
|
El Brocal |
2,239
|
|
Uchucchacua |
0
|
|
Tambomayo |
2,275
|
|
|
|
Zinc (MT) |
|
|
El Brocal |
7,256
|
|
Uchucchacua |
0
|
|
Tambomayo |
2,922
|
|
|
|
Copper (MT) |
|
|
El Brocal |
9,697
|
|
|
| Realized Metal Prices* |
|
|
|
1Q22
(Actual)
|
|
Gold (Oz) |
1,896
|
|
Silver (Oz) |
24.10
|
|
Lead (MT) |
2,363
|
|
Zinc (MT) |
4,105
|
|
Copper (MT) |
9,950
|
|
|
| *Buenaventura consolidated figures. |
Appendix
|
1. 1Q22
Production
per Metal
|
|
|
|
|
|
1Q22
(Actual)
|
|
|
|
Silver
(Oz.)
|
|
|
Orcopampa
|
7,856
|
|
La Zanja
|
23,363
|
|
Coimolache
|
77,195
|
|
|
|
Lead
(MT)
|
|
|
Julcani
|
99
|
|
|
|
2. 1Q22 Volume
Sold per Metal
|
|
|
|
|
1Q22
(Actual)
|
|
|
|
|
Silver
(Oz.)
|
|
|
Orcopampa
|
6,928
|
|
La Zanja
|
21,818
|
|
Coimolache
|
96,634
|
|
|
|
Lead
(MT)
|
|
|
Julcani
|
76
|
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*, La Zanja*, El Brocal and
Coimolache).
The Company owns 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 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 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.
Company Website: www.buenaventura.com.pe/ir