Buenaventura Announces Fourth Quarter and 2017 Estimated Production Per Metal

LIMA, Peru--()--Compañía de Minas Buenaventura S.A.A. (“Buenaventura”) (NYSE:BVN)(Lima Stock Exchange:BUE.LM), Peru’s largest publicly traded, precious metals mining company today announced preliminary 4Q16 production results and 2017 operating guidance.

4Q16 Production per Metal and

2017 Operating Guidance (100% basis)

                 

4Q16

   

2016

   

2017

(Actual)

   

(Actual)

   

(Estimated)

 
Gold (Oz.)                  
Orcopampa     45,973     191,102     180k - 190k
Tambomayo                 120k - 150k
La Zanja     32,739     139,724     115k - 125k
Tantahuatay     39,926     150,816     145k - 155k
Yanacocha     171,675     654,934     500k - 600k
Others     8,091     25,541     25k - 30k
                   

BVN - Equity 1

    159,212     627,434     650k - 750k
 
Silver (Oz.)                  
Uchucchacua     4,042,722     16,212,746     16.0M - 17.0M
Tambomayo                 2.5M - 3.5M
Julcani     790,618     3,264,420     3.0M - 3.4M
Mallay     374,756     1,627,246     1.5M - 1.7M
El Brocal     1,158,392     2,634,739     3.5M - 4.5M
Others     1,416,970     5,852,148     1.8M - 2.2M
                   

BVN - Equity 1

    6,382,558     24,672,571     27M - 30M
 
Zinc (MT)                  
El Brocal     19,908     57,385     70k - 80k
Uchucchacua     1,662     7,227     6.5k - 7.5k
Mallay     2,326     10,463     11.5k - 12.5k
Tambomayo                 5.0k - 7.0k
                   

BVN - Equity 1

    15,646     51,465     65k - 75k
 
Copper (MT)                  
El Brocal     13,858     49,170     55k - 65k
Cerro Verde 2     130,000     500,000     550k - 600k
                   

BVN - Equity 1

    33,952     128,051     140k - 160k
 
1. Considers 100% of BVN´s operating units, 61.32% of El Brocal
53.06% of La Zanja, 40.95% of Coimolache & 43.65% of Yanacocha.
2. Estimated production.
 

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 (61.29%), La Zanja (53.06%) and Coimolache (40.10%) and is developing the wholly owned Tambomayo Project.

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

For a printed version of the Company’s 2015 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.

www.buenaventura.com

Contacts

Contacts in Lima
Carlos Galvez, Chief Financial Officer
Tel (511) 419 2540
or
Daniel Dominguez, Manager of Financial Planning and Investor Relations
Tel (511) 419 2591
daniel.dominguez@buenaventura.pe
or
Rodrigo Echecopar, Investor Relations Coordinator
Tel (511) 419 2609
rodrigo.echecopar@buenaventura.pe
or
Contacts in New York
Monique Skruzny - Barbara Cano
MBS Value Partners

Contacts

Contacts in Lima
Carlos Galvez, Chief Financial Officer
Tel (511) 419 2540
or
Daniel Dominguez, Manager of Financial Planning and Investor Relations
Tel (511) 419 2591
daniel.dominguez@buenaventura.pe
or
Rodrigo Echecopar, Investor Relations Coordinator
Tel (511) 419 2609
rodrigo.echecopar@buenaventura.pe
or
Contacts in New York
Monique Skruzny - Barbara Cano
MBS Value Partners