Buenaventura Announces Second Quarter Production and 2014 Guidance
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 second quarter 2014 operating results and 2014 production guidance.
| Second Quarter Production per Metal and 2014 Guidance (100% basis) | ||||||||
| 1Q14 (Actual) | 2Q14 (Actual) | Var. (%) | 2014 (estimated) | |||||
| Gold (Oz.) | ||||||||
| Orcopampa | 44,929 | 51,102 | 14% | 190k - 200k | ||||
| Breapampa | 20,927 | 21,228 | 1% | 70k - 80k | ||||
| La Zanja | 35,937 | 36,685 | 2% | 130k - 140k | ||||
| Tantahuatay | 32,633 | 35,171 | 8% | 130k - 140k | ||||
| Yanacocha | 207,511 | 190,950 | -8% | 895k - 985k | ||||
| Silver (Oz.) | ||||||||
| Uchucchacua | 2,368,509 | 2,997,602 | 27% | 11.7M - 12.0M | ||||
| Julcani | 763,437 | 763,529 | 0% | 2.8M - 3.2M | ||||
| Mallay | 297,180 | 302,118 | 2% | 1.1M - 1.3M | ||||
| El Brocal | 497,664 | 498,440 | 0% | 2.8M - 3.0M | ||||
| Zinc (MT) | ||||||||
| El Brocal | 532 | 347 | -35% | 25K - 30K * | ||||
| Uchucchacua | 1,470 | 1,575 | 7% | 6.5K - 7.0K | ||||
| Mallay | 2,450 | 2,570 | 5% | 9.5K - 10.5K | ||||
| Copper (MT) | ||||||||
| El Brocal | 10,199 | 11,332 | 11% | 38K - 40K | ||||
| Cerro Verde | 60,955 | TBA | N.A. | 240K - 260K | ||||
(*) Considers expanded plant capacity in second half 2014
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*, Breapampa*, Mallay*, Julcani*, El Brocal, La Zanja and Coimolache).
The Company owns 43.65% of Minera Yanacocha S.R.L (a partnership with Newmont Mining Corp.), an important precious metal producer; 19.58% of Sociedad Minera Cerro Verde, an important Peruvian copper producer, and 49% of Canteras del Hallazgo S.A, owner the Chucapaca project.
For a printed version of the Company’s 2013 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.
Contact
Lima:
Carlos Galvez, 511-419-2540
Chief Financial Officer
or
Daniel Dominguez, 511-419-2591
Director of Treasury and Investor Relations
daniel.dominguez@buenaventura.pe
or
New York:
i-advize Corporate Communications
Maria Barona / Rafael Borja, 212-406-3691/3693
buenaventura@i-advize.com
