Buenaventura Announces Results for Third Quarter 2021 Production and Volume Sold per Metal
October 15 2021 - 9:10AM
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 3Q21 production and volume sold.
3Q21 Production per Metal and
2021 Guidance
(100% basis)
1Q21 (Actual)
2Q21 (Actual)
3Q21 (Actual)
9M21 (Actual)
Updated 2021 Guidance (1)
(2)
Gold (Oz.)
Orcopampa
5,986
9,130
15,547
30,663
40k - 45k
Tambomayo
15,347
17,964
17,837
51,148
69k - 75k
La Zanja
3,908
4,447
5,967
14,322
18k - 21k
Coimolache
26,133
30,378
29,597
86,107
105k-110k
Yanacocha
62,125
66,563
65,220
193,908
315k (3)
El Brocal
3,067
4,317
5,360
12,745
17k-19k
Silver (Oz.)
Uchucchacua
1,243,916
1,268,082
1,220,393
3,732,391
3.7 M
El Brocal
1,574,305
1,603,208
1,482,163
4,659,676
5.4M - 6.0M
Tambomayo
284,677
432,638
509,836
1,227,151
1.6M - 1.8M
Julcani
648,854
570,248
657,494
1,876,596
2.1M - 2.4M
Lead (MT)
El Brocal
2,140
2,812
2,754
7,707
10.0k - 12.0k
Uchucchacua
1,292
1,715
1,830
4,836
4.8K
Tambomayo
1,504
2,767
1,978
6,249
7.7k - 8.2k
Zinc (MT)
El Brocal
10,207
8,612
8,930
27,748
36.0k - 38.0k
Uchucchacua
1,246
3,029
1,928
6,203
6.2K
Tambomayo
1,821
3,671
3,397
8,888
10.5k - 12.0k
Copper (MT)
El Brocal
7,965
10,494
9,146
27,606
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 September 2021.
2. Updated guidance could potentially be adversely impacted by
further COVID-19 effects.
3. As announced by Newmont on February 18, 2021.
Additional Comments
- Tambomayo: 3Q21 gold production was in line with
expectations. 2021 gold guidance remains unchanged. The Company has
increased its full year 2021 silver, lead and zinc production
guidance.
- Orcopampa: 3Q21 successful ramp-up with gold production
in line with expectations. 2021 guidance remains unchanged.
- Coimolache: 3Q21 gold production in line with
expectations. The Company has increased it’s 2021 gold production
guidance for Coimolache.
- La Zanja: 3Q21 gold production exceeded expectations.
The Company has increased its 2021 gold production guidance for La
Zanja.
- Julcani: 3Q21 silver production was in line with
expectations. 2021 guidance remains unchanged.
- El Brocal: 3Q21 production was in line with
expectations. The Company has decreased its 2021 Gold and Zinc
guidance slightly due to decreased processing plant recovery.
- Uchucchacua: 3Q21 silver, lead and zinc production below
expectations with decreased production due to suspended operations
resulting from an illegal road blockade by members of the local
community which began on September 13, 2021. Decreased 2021 silver
production will be partially offset for the remainder of the year
by increased production by other mining units.
3Q21 Payable Volume Sold
3Q21 Volume sold per Metal (100% basis)
1Q21(Actual) 2Q21(Actual) 3Q21(Actual)
9M21(Actual) Gold (Oz.)
Orcopampa
5,698
9,618
15,646
30,962
Tambomayo
14,631
16,652
15,943
47,225
La Zanja
3,897
4,455
5,169
13,521
Coimolache
28,094
29,815
30,893
88,802
El Brocal
1,951
2,805
3,806
8,562
Silver (Oz.)
Uchucchacua
1,029,816
1,226,055
1,107,282
3,363,154
El Brocal
1,244,168
1,325,553
1,235,143
3,804,864
Tambomayo
257,290
380,029
445,525
1,082,844
Julcani
614,164
547,606
606,737
1,768,507
Lead (MT)
El Brocal
2,239
2,597
2,461
7,297
Uchucchacua
1,014
1,450
1,562
4,025
Tambomayo
1,440
2,575
1,813
5,827
Julcani
113
91
83
286
Zinc (MT)
El Brocal
8,491
7,117
7,367
22,975
Uchucchacua
914
2,309
1,444
4,667
Tambomayo
1,401
3,049
2,304
6,754
Copper (MT)
El Brocal
7,536
9,948
8,677
26,161
Realized Metal Prices*
1Q21 (Actual)
2Q21 (Actual)
3Q21 (Actual)
9M21 (Actual)
Gold (Oz)
1,726
1,815
1,764
1,771
Silver (Oz)
26.98
27.06
23.94
25.98
Lead (MT)
2,129
2,192
2,412
2,249
Zinc (MT)
3,220
3,010
3,048
3,088
Copper (MT)
8,994
10,033
9,488
9,553
*Buenaventura consolidated figures.
Appendix
1. 3Q21 Production per
Metal
1Q21(Actual) 2Q21(Actual) 3Q21(Actual)
9M21(Actual) Gold (Oz.) Julcani
13
48
85
146
Silver (Oz.)
Orcopampa
1,043
1,781
4,716
7,539
La Zanja
27,042
20,519
24,011
71,573
Coimolache
200,993
166,327
159,072
526,393
Yanacocha
187,057
33,338
-1,483
218,912
Lead (MT)
Julcani
146
123
114
383
2. 3Q21 Volume Sold per
Metal
1Q21(Actual) 2Q21(Actual) 3Q21(Actual)
9M21(Actual) Gold (Oz.) Julcani
10
46
64
119
Silver (Oz.)
Orcopampa
1,878
1,518
4,709
8,105
La Zanja
28,964
24,710
26,683
80,356
Coimolache
215,648
178,729
169,499
563,876
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/20211015005374/en/
Contacts in Lima: Daniel Dominguez, Chief Financial
Officer (511) 419 2540
Gabriel Salas, Head of Investor Relations (511) 419
2591 / gabriel.salas@buenaventura.pe
Company Website: www.buenaventura.com.pe/ir
Contacts in NY: Barbara Cano (646) 452 2334
barbara@inspirgroup.com
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