LIMA, Peru--(BUSINESS WIRE)--October 19, 2023--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 3Q23 results for production and volume sold.
3Q23 Production per Metal (100% basis) |
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1Q23 (Actual) |
2Q23 (Actual) |
3Q23 (Actual) |
9M23 (Actual) |
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2023 Updated |
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Gold (Oz.) |
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Orcopampa |
19,996 |
19,975 |
20,576 |
60,547 |
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72.0k - 80.0k |
Tambomayo |
10,600 |
10,896 |
8,127 |
29,623 |
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35.0k - 40.0k |
Coimolache |
6,536 |
9,632 |
23,621 |
39,789 |
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60.0k - 65.0k |
El Brocal |
4,421 |
4,377 |
5,833 |
14,631 |
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19.0k - 22.0k |
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Silver (Oz.) |
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Uchucchacua |
0 |
0 |
0 |
0 |
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0.7M - 1.0M |
Yumpag |
0 |
0 |
0 |
0 |
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1.6M - 1.8M |
El Brocal |
436,678 |
635,530 |
1,192,944 |
2,265,152 |
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2.7M - 3.0M |
Tambomayo |
394,305 |
540,732 |
301,963 |
1,237,001 |
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1.6M - 1.8M |
Julcani |
417,887 |
472,740 |
427,269 |
1,317,895 |
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1.7M - 1.9M |
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Lead (MT) |
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El Brocal |
0 |
1,275 |
885 |
2,160 |
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5.0k - 6.0k |
Uchucchacua |
0 |
0 |
0 |
0 |
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1.4k - 1.5k |
Yumpag |
0 |
0 |
0 |
0 |
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0.3k - 0.4k |
Tambomayo |
1,324 |
924 |
603 |
2,851 |
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2.9k - 3.2k |
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Zinc (MT) |
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El Brocal |
0 |
3,812 |
2,849 |
6,661 |
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15.0k - 20.0k |
Uchucchacua |
0 |
0 |
0 |
0 |
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2.0k - 2.2k |
Yumpag |
0 |
0 |
0 |
0 |
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- |
Tambomayo |
1,552 |
1,150 |
913 |
3,614 |
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4.8k - 5.3k |
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Copper (MT) |
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El Brocal |
12,238 |
13,213 |
18,826 |
44,277 |
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53.0k - 58.0k |
3Q23 Comments
Tambomayo:
Orcopampa:
Coimolache:
Julcani:
Uchucchacua:
Yumpag:
El Brocal:
3Q23 Payable Volume Sold
3Q23 Volume Sold per Metal (100% basis) |
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1Q23 (Actual) |
2Q23 (Actual) |
3Q23 (Actual) |
9M23 (Actual) |
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Gold (Oz.) |
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Orcopampa |
20,326 |
19,718 |
20,460 |
60,504 |
Tambomayo |
9,360 |
9,868 |
7,421 |
26,649 |
Coimolache |
6,854 |
8,170 |
21,237 |
36,261 |
El Brocal |
2,595 |
2,427 |
3,553 |
8,575 |
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Silver (Oz.) |
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Uchucchacua |
130,642 |
150,637 |
85,499 |
366,778 |
Yumpag |
0 |
0 |
0 |
0 |
El Brocal |
379,158 |
508,257 |
986,583 |
1,873,998 |
Tambomayo |
370,299 |
485,593 |
269,542 |
1,125,434 |
Julcani |
412,890 |
449,841 |
388,854 |
1,251,585 |
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Lead (MT) |
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El Brocal |
88 |
1,215 |
636 |
1,939 |
Uchucchacua |
0 |
0 |
0 |
0 |
Yumpag |
0 |
0 |
0 |
0 |
Tambomayo |
1,189 |
808 |
525 |
2,521 |
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Zinc (MT) |
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El Brocal |
38 |
3,094 |
2,347 |
5,478 |
Uchucchacua |
0 |
0 |
0 |
0 |
Tambomayo |
1,269 |
895 |
682 |
2,846 |
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Copper (MT) |
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El Brocal |
11,748 |
12,355 |
17,786 |
41,889 |
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Realized Metal Prices* | ||||
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1Q23 (Actual) |
2Q23 (Actual) |
3Q23 (Actual) |
9M23 (Actual) |
Gold (Oz) |
1,915 |
1,945 |
1,921 |
1,927 |
Silver (Oz) |
22.5 |
24.27 |
25.67 |
24.30 |
Lead (MT) |
2,139 |
1,846 |
2,225 |
2,030 |
Zinc (MT) |
2,004 |
2,497 |
1,762 |
2,152 |
Copper (MT) |
8,972 |
8,992 |
8,291 |
8,689 |
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*Buenaventura consolidated figures. |
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Appendix
Appendix
1. 3Q23 Production per Metal |
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(100% basis) | ||||
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1Q23 (Actual) |
2Q23 (Actual) |
3Q23 (Actual) |
9M23 (Actual) |
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Gold (Oz.) |
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La Zanja |
3,051 |
2,030 |
1,692 |
6,772 |
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Silver (Oz.) |
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Orcopampa |
7,618 |
7,242 |
7,168 |
22,028 |
La Zanja |
6,630 |
5,322 |
3,681 |
15,633 |
Coimolache |
25,485 |
64,084 |
87,185 |
176,755 |
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Lead (MT) |
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Julcani |
106 |
159 |
132 |
398 |
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2. 3Q23 Volume Sold per Metal | ||||
(100% basis) | ||||
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1Q23 (Actual) |
2Q23 (Actual) |
3Q23 (Actual) |
6M23 (Actual) |
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Gold (Oz.) |
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La Zanja |
3,211 |
1,892 |
1,780 |
6,883 |
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Silver (Oz.) |
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Orcopampa |
6,699 |
6,023 |
6,710 |
19,432 |
La Zanja |
10,942 |
11,589 |
6,442 |
28,973 |
Coimolache |
24,909 |
57,608 |
82,379 |
164,895 |
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Lead (MT) |
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Julcani |
94 |
138 |
107 |
339 |
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.
Contacts in Lima:
Daniel Dominguez, Chief Financial Officer
+51 (511) 419 2540
Gabriel Salas, Head of Investor Relations
+51 (511) 419 2591 / Gabriel.salas@buenaventura.pe
Contacts in NY:
Barbara Cano
+1 (646) 452 2334
barbara@inspirgroup.com
Company Website: www.buenaventura.com.pe/ir