Buenaventura Announces Fourth Quarter and 2017 Estimated Production Per Metal
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 Corp.), 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
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Contact
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
