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6-K 1 tm2528946d1_6k.htm FORM 6-K

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 6-K

 

 

Report of Foreign Issuer

Pursuant to Rule 13a-16 or 15d-16

of the Securities Exchange Act of 1934

 

For the month of October 2025

 

Commission File Number: 001-14370

 

 

COMPANIA DE MINAS BUENAVENTURA S.A.A.

(Exact name of registrant as specified in its charter)

 

BUENAVENTURA MINING COMPANY INC.

(Translation of registrant’s name into English)

 

 

AV. BEGONIAS NO. 415, 19TH FLOOR,

SAN ISIDRO, LIMA, PERU

(Address of principal executive office)  

 

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

 

Form 20-F  x            Form 40-F  ¨

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):

 

Yes  ¨            No  x

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):

 

Yes  ¨            No  x

 

 

 

 


 

Buenaventura Announces Third Quarter 2025 Results for Production and Volume Sold per Metal

 

Lima, Peru, October 16, 2025 – Compañía 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 3Q25 results for production and volume sold.

 

Production per Metal

 

          Three Months Ended
September 30, 2025
    Nine Months Ended
September 30, 2025
    2025 Updated
Guidance (1)
 
Gold ounces produced                                
El Brocal     61.43 %     5,032       15,240       20.0k - 22.0k  
Orcopampa     100 %     13,314       39,878       53.0k - 55.0k  
Tambomayo     100 %     4,954       10,973       12.5k - 15.5k  
Julcani     100 %     2,452       6,416       7.5k - 9.5k  
La Zanja     100 %     5,143       13,648       18.0k - 21.0k  
San Gabriel (4)     100 %     0       0       1.0k - 5.0k  
Total Direct Operations (2)             30,894       86,155       112.0k - 128.0k  
Coimolache     40.094 %     14,958       41,450       55.0k - 60.0k  
Total incl. Associated (3)             34,950       96,896       126.3k - 143.6k  
                                 
Silver ounces produced                                
El Brocal     61.43 %     615,004       1,443,222       1.7M - 1.9M  
Uchucchacua     100 %     585,095       1,548,887       2.0M - 2.3M  
Yumpag     100 %     2,312,100       6,742,691       8.3M - 8.6M  
Orcopampa     100 %     3,827       15,462       -  
Tambomayo     100 %     380,818       733,392       0.9M - 1.2M  
Julcani     100 %     366,120       1,005,561       1.3M - 1.5M  
La Zanja     100 %     15,694       31,575       -  
Total Direct Operations (2)             4,278,658       11,520,791       14.2M - 15.5M  
Coimolache     40.094 %     68,362       236,850       0.2M - 0.3M  
Total incl. Associated (3)             4,068,860       11,059,102       13.6M - 14.9M  
                                 
Lead metric tons produced                                
Uchucchacua     100 %     4,055       10,752       14.0k - 16.0k  
Tambomayo     100 %     626       1,895       2.4k - 2.8k  
Julcani     100 %     193       474       0.8k - 1.0k  
Total Direct Operations (2)             4,874       13,121       17.2k - 19.8k  
                                 
Zinc metric tons produced                                
Uchucchacua     100 %     6,395       18,539       23.0k - 26.0k  
Tambomayo     100 %     594       2,000       2.7k - 3.3k  
Total Direct Operations (2)             6,989       20,538       25.7k - 29.3k  
                                 
Copper metric tons produced                                
El Brocal     61.43 %     12,621       37,763       53.0k - 55.0k  
Julcani     100 %     126       347       -  
Tambomayo     100 %     23       52       -  
Total Direct Operations (2)             12,770       38,162       53.0k - 55.0k  

 

1. 2025 projections are considered to be forward-looking statements and represent management’s good faith estimates or expectations of future production results as of October 2025.
2. Considers 100% of Buenaventura’s operating units, 100% of La Zanja and 100% of El Brocal.
3. Considers 100% of Buenaventura’s operating units, 100% of La Zanja, 61.43% of El Brocal and 40.094% of Coimolache.
4. 4Q25 targeted production initiation remains unchanged, subject to final permitting and required approvals.

 

1


 

 

Volume Sold per Metal

 

    Three Months Ended
September 30, 2025
    Nine Months Ended
September 30, 2025
 
Gold ounces sold                
El Brocal     2,555       8,468  
Orcopampa     13,776       40,680  
Tambomayo     4,564       9,849  
Julcani     2,232       5,788  
La Zanja     4,910       13,877  
Total Direct Operations (1)     28,038       78,661  
Coimolache     13,433       38,302  
Total incl. Associated (2)     32,438       90,752  
                 
Silver ounces sold                
El Brocal     513,067       1,182,210  
Uchucchacua     730,351       1,787,830  
Yumpag     2,130,120       6,374,330  
Orcopampa     4,203       17,611  
Tambomayo     347,563       663,409  
Julcani     354,445       957,142  
La Zanja     21,775       68,177  
Buenaventura Trading (3)     20,108       59,559  
Total Direct Operations (1)     4,121,632       11,110,268  
Coimolache     61,683       223,473  
Total incl. Associated (2)     3,948,473       10,743,889  
                 
Lead metric tons sold                
Uchucchacua     3,875       10,293  
Yumpag     64       133  
Tambomayo     469       1,489  
Julcani     178       425  
Total Direct Operations (1)     4,586       12,341  
                 
Zinc metric tons sold                
Uchucchacua     5,563       15,754  
Tambomayo     409       1,513  
Total Direct Operations (1)     5,973       17,266  
                 
Copper metric tons sold                
El Brocal     11,813       35,577  
Tambomayo     104       283  
Julcani     16       37  
Buenaventura Trading (3)     2,289       6,584  
Total Direct Operations (1)     14,223       42,481  

 

1. Considers 100% of Buenaventura’s operating units, 100% of La Zanja, 100% of El Brocal and 100% of Buenaventura Trading.
2. Considers 100% of Buenaventura’s operating units, 100% of La Zanja, 100% of Buenaventura Trading, 61.43% of El Brocal and 40.094% of Coimolache.
3. Buenaventura Trading is the vehicle through which Buenaventura purchases copper concentrate from Freeport, produced at Cerro Verde — a company in which Buenaventura holds a 19.58% stake. The concentrate is then sold on the spot market by Buenaventura Trading.

 

2


 

 

Average realized prices(1)(2)

 

    Three Months Ended
September 30, 2025
    Nine Months Ended
September 30, 2025
 
Gold (US$/Oz)     3,594       3,287  
Silver (US$/Oz)     40.81       36.08  
Lead (US$/MT)     1,903       1,892  
Zinc (US$/MT)     2,811       2,710  
Copper (US$/MT)     9,989       9,632  

 

1. Considers Buenaventura consolidated figures.
2. Realized prices include both provisional sales and final adjustments for price changes.

 

Commentary on Operations

 

Tambomayo:

 

· 3Q25 gold and silver production was in line with expectations. High-grade oxide ore processing successfully began, as was reported in 2Q25. However, the 2025 production plan has been updated, with part of the high-grade ore initially planned for 2025 production to now be processed in 2026. A higher volume of lead and zinc will be produced in 2025.
· 2025 silver, lead and zinc production guidance has been updated accordingly. 2025 gold guidance remains unchanged.

 

Orcopampa:

 

· 3Q25 gold and silver production was in line with expectations. However, 2025 gold production guidance has been revised, as a higher volume of ore will be processed in 4Q25 as compared to the initial plan.

 

Coimolache:

 

· Gold and silver production exceeded expectations for 3Q25, as full capacity mine and leach pad production began in early September 2025 due to earlier than expected operating permit approval which was initially expected in late September 2025.
· 2025 gold production guidance has therefore been revised. 2025 silver guidance remains unchanged.

 

Julcani:

 

· Gold and copper production at the Julcani mine is gradually increasing as the operation transitions to mining zones richer in these metals, partially offsetting decreased production from the Achilla zone which has historically produced lead and silver.
· 2025 gold and lead guidance remains unchanged; silver guidance has been revised.

 

3


 

 

Uchucchacua:

 

· 3Q25 silver production was in line with expectations, reflecting the revised mine plan the Company initiated in 2Q25. Mining activities during 3Q25 remained focused on polymetallic stopes, a strategic decision that supports ongoing water pumping and ancillary works but which shifts targeted mining to polymetallic stopes, from the prior target of mining bottom-level stopes with higher silver content. Water pumping activities were completed during 3Q25, and ancillary works are expected to conclude in 4Q25. This enables the team to begin to backfilling the mine’s bottom zones with tailings slurry during 4Q25, and access to higher silver-grade areas will be achievable in 2026 as part of the full year mine plan. This process is intended to reduce voids in previously mined areas at the bottom of the mine, enhancing their structural stability and conditioning nearby zones for future operations. These works are expected to be completed by 2Q26.

 

· 2025 silver and lead production guidance has been updated accordingly. 2025 zinc guidance remains unchanged.

 

Yumpag:

 

· Silver production exceeded 3Q25 projections due to higher grades mined during the quarter. This improvement reflects the continued application of the Over-Drift-Fill (ODF) mining method which provides high ore recovery with enhanced selectivity while reducing surface subsidence and the amount of surface tailings, a mining approach that the Company began implementing in 2Q25.

 

· 2025 production guidance has been updated accordingly.

 

El Brocal:

 

· Silver and gold production outperformed expectations in 3Q25, reflecting the Company’s short-term strategy of prioritizing the processing of stockpiles with high precious metals content. During the quarter, the Company processed lead-silver ore previously classified as low grade, which was re-evaluated based on current market conditions and incorporated into the production plan. This material had significant silver content and copper ore throughput was therefore reduced, resulting in a slight decrease in copper production volumes for the quarter.

 

· 2025 production guidance has been updated accordingly.

 

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).

 

(*) 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.

 

4


 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

  COMPAÑÍA DE MINAS BUENAVENTURA S.A.A.
     
Date: October 16, 2025 By: /s/ DANIEL DOMÍNGUEZ VERA  
  Name: Daniel Domínguez Vera
  Title: Market Relations Officer