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BVN Compania de Minas Buenaventura

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.  20549
 
FORM 6-K
 
REPORT OF FOREIGN ISSUER
PURSUANT TO RULE 13a-16 OR 15b-16 OF
THE SECURITIES EXCHANGE ACT OF 1934
 
For the month of April 2020
 
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)
 
Republic of Peru
(Jurisdiction of incorporation or organization)
 
CARLOS VILLARAN 790
SANTA CATALINA, LIMA 13, PERU
(Address of principal executive offices)
 
Indicate by check mark whether the registrant files or will file annual reports under cover 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): [ ]


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): [ ]
 
Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
 
Yes _______ No ___X____
 
If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): Not applicable.

Buenaventura Announces First Quarter 2020 Results for Production and Volume Sold per Metal

LIMA, Peru--(BUSINESS WIRE)--April 28, 2020--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 1Q20 results for production and volume sold.

1Q20 Production per Metal
(100% Basis)

 

 

 

 

 


 

Gold (Oz.)

January

February

March

1Q


Type of Proccesing Plant

Orcopampa

3,992

4,129

40

8,160


Flotation

Tambomayo

5,111

7,067

2,371

14,549


Flotation

La Zanja

614

1,750

932

3,297


Heap leaching

Tantahuatay

10,095

6,679

5,719

22,493


Heap leaching

Yanacocha

45,520

35,326

40,956

121,802


Heap leaching

El Brocal

1,570

1,476

1,008

4,054


Flotation

 

 

 

 

 


 

Silver (Oz.)

January

February

March

1Q


Type of Proccesing Plant

Uchucchacua

773,878

767,022

415,563

1,956,463


Flotation

El Brocal

221,958

267,914

188,195

678,067


Flotation

Tambomayo

132,079

200,105

53,347

385,532


Flotation

Julcani

217,316

219,535

113,700

550,552


Flotation

 

 

 

 

 


 

Lead (MT)

January

February

March

1Q


Type of Proccesing Plant

El Brocal

1,535

2,579

1,346

5,460


Flotation

Uchucchacua

1,044

814

414

2,273


Flotation

Tambomayo

543

443

208

1,194


Flotation

Julcani

54

59

36

149


Flotation

 

 

 

 

 


 

Zinc (MT)

January

February

March

1Q


Type of Proccesing Plant

El Brocal

5,089

5,692

4,277

15,058


Flotation

Uchucchacua

1,179

861

320

2,360


Flotation

Tambomayo

609

461

197

1,267


Flotation

 

 

 

 

 


 

Copper (MT)

January

February

March

1Q


Type of Proccesing Plant

Cerro Verde

39,195

31,497

21,519

92,211


Flotation

El Brocal

3,415

3,053

2,654

9,122


Flotation

Additional Comments

  1. Peru’s state of emergency and related mandated lockdown began on March 16, 2020.
  2. As was announced on March 30, 2020, Buenaventura has suspended the full year 2020 guidance provided at the Company’s March 9, 2020 Investor Day.
  3. The Company expects to provide updated guidance on May 18, 2020 with the release of its 1Q20 Financial Results.
  4. Buenaventura’s enhanced mine plan will target high-grade areas while maintaining a focus on exploration and cost reduction, once the Company’s mines resume production.
  5. Mineral at Orcopampa is treated during the last two weeks of the month, aligned with the mine’s working protocol. No mineral was therefore treated during the month of March.
  6. The Uchucchacua mine plan is designed to ramp-up production to exploit high-grade areas starting the second quarter of 2020.

1Q20 Payable Volume sold per Metal (100% basis)


 


1Q20 (Actual)

Gold (Oz.)

 

Orcopampa

9,016

Tambomayo

5,286

La Zanja

3,295

Tantahuatay

23,978

El Brocal

2,639


 

Silver (Oz.)

 

Uchucchacua

1,880,330

El Brocal

466,365

Tambomayo

110,661

Julcani

514,114


 

Lead (MT)

 

El Brocal

5,145

Uchucchacua

1,972

Tambomayo

282

Julcani

95


 

Zinc (MT)

 

El Brocal

12,438

Uchucchacua

1,874

Tambomayo

992


 

Copper (MT)

 

El Brocal

8,458

 

Realized Metal Prices*


 

Gold (Oz)

1,692

Silver (Oz)

17.16

Lead (MT)

1,653

Zinc (MT)

1,824

Copper (MT)

5,536

*Buenaventura consolidated figures


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*, El Brocal, La Zanja and Coimolache).

The Company owns 43.65% of Minera Yanacocha S.R.L (a partnership with Newmont Mining Corporation & Sumitomo Corporation), an important precious metal producer and 19.58% of Sociedad Minera Cerro Verde, an important Peruvian copper producer (a partnership with Freeport-McMorRan Inc., Sumitomo Corporation & Sumitomo Metals).

For a printed version of the Company’s 201* 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.

Contacts

Contacts in Lima: Leandro García, Chief Financial Officer
(511) 419 2540

Rodrigo Echecopar, Head of Investor Relations
(511) 419 2591 / rodrigo.echecopar@buenaventura.pe

Contacts in NY:
Barbara Cano
(646) 452 2334
barbara@inspirgroup.com


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.

 
 

By: /s/ LEANDRO GARCÍA RAGGIO

Name: Leandro García Raggio

Title: Chief Financial Officer

 
Date: April 28, 2020