Buenaventura Reaches Commercial Production at Tambomayo
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 that the processing plant at the Tambomayo project located in Arequipa, which was commissioned in December of 2016, has successfully completed the ramp up process. Tambomayo has stably operated at 1,500 TPD (full capacity) over a period exceeding two weeks.
Chief Executive Officer Victor Gobitz reiterated that the commissioning and ramp up of the plant had been completed on schedule and commercial operation was reached by September 1, 2017, “This achievement is further demonstration of the skills and dedication of our team and the ability to deliver on our promises,” he said.
As announced in April, Tambomayo´s guidance for 2017 is 60k – 90k gold ounces and 1.6M – 1.9M silver ounces and for a full year of production Tambomayo will produce 120k – 150k gold ounces and 3M – 4M silver ounces.
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*, Tambomayo*, El Brocal, La Zanja and Coimolache) and is developing the San Gabriel 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 2016 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: http://www.businesswire.com/news/home/20170905005762/en/
Contact
Compañia de Minas Buenaventura S.A.A.
In Lima:
Carlos Galvez, 511-419-2540
Chief Financial Officer
or
Rodrigo Echecopar, 511-419 2591
Investor Relations Coordinator
rodrigo.echecopar@buenaventura.pe
or
In NY:
Barbara Cano, 646-452-2334
barbara.cano@mbsvalue.com
or
Company Website: www.buenaventura.com.pe
