Docoh
Loading...

BVN Compania de Minas Buenaventura

Filed: 15 Apr 21, 8:29pm
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 2021
 
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 2021 Production and Volume Sold Per Metal Results

LIMA, Peru--(BUSINESS WIRE)--April 15, 2021--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 1Q21 production and volume sold.


1Q21 Production per Metal
(100% basis) (1) (2)



 

 

1Q21
(Actual)


2021
Guidance



 

 


 



Gold (Oz.)

 


 



Orcopampa

5,986

 

40k - 45k



Tambomayo

15,347

 

69k - 75k



La Zanja

3,908

 

12k - 15k



Coimolache

26,133

 

99k - 106k



Yanacocha

62,125

 

315k (3)



El Brocal

3,067

 

20k - 25k



 

 

 

 



Silver (Oz.)

 

 

 



Uchucchacua

1,243,916

 

8.0M - 9.0M



El Brocal

1,574,305

 

5.4M - 6.0M



Tambomayo

284,677

 

1.2M - 1.4M



Julcani

648,854

 

2.1M - 2.4M



 

 

 

 



Lead (MT)

 

 

 



El Brocal

2,397

 

12.0k - 16.0k



Uchucchacua

1,292

 

7.0k - 10.0k



Tambomayo

1,504

 

5.9k - 6.5k



 

 

 

 



Zinc (MT)

 

 

 



El Brocal

10,207

 

47.0k - 52.0k



Uchucchacua

1,246

 

7.0k - 10.0k



Tambomayo

1,821

 

6.9k - 7.5k




 

 

 



Copper (MT)

 

 

 



El Brocal

7,687

 

37.0k - 42.0k


1. Above 2021 projections are considered forward-looking statements and represent management’s good faith estimates or expectations of future production results as of April 2021.

2. Updated guidance could potentially be adversely impacted due to further effects related to COVID-19.

3. As announced by Newmont on February 18, 2021.


Additional Comments
  • Tambomayo:

    1Q21 gold production was below expectation due to continued Covid-19 related personnel restrictions resulting in less ore treated, as well as longer than expected maintenance works during the month of February. This was partially offset by higher gold grade mined during the quarter. 2021 guidance remains unchanged in light of a careful review of the Company’s short-term mining plan designed to accelerate mining in high grade areas during the year.

    1Q21 silver production was above projections for the quarter due to higher silver grades. 2021 guidance remains unchanged.
  • Orcopampa:

    1Q21 gold production was below expectations due to less ore treated resulting from Covid-19 related personnel restrictions. Additional staff and resources will be allocated to expedite production for the balance the year. 2021 guidance remains unchanged.
  • Coimolache:

    1Q21 gold production was in line with expectations. 2021 guidance remains unchanged.
  • La Zanja:

    1Q21 gold production was in line with expectations. 2021 guidance remains unchanged.
  • Julcani:

    1Q21 silver production was in line with expectations. 2021 guidance remains unchanged.
  • Uchucchacua:

    1Q21 silver, lead and zinc production was below expectations due to lower production resulting from underground mine development delays, specifically delayed mine ramp-up. This was partially offset by 4.25 Oz Ag/MT in reprocessed tailings.
  • El Brocal:

    Marcapunta’s copper production was above expectations with increased ore treated during the quarter due to the 2021 re-scheduled open pit production mining sequence, enabling Cu-ore production in Q1. 2021 guidance remains unchanged.

    Tajo Norte’s zinc production was below expectations due to polymetallic-ore production re-scheduled until later in the year. 2021 guidance remains unchanged.

1Q21 Payable Volume Sold

1Q21 Payable Volume sold
per Metal (100% basis)



 

1Q21 (Actual)


 

 


Gold (Oz.)

 


Orcopampa

5,698


Tambomayo

14,631


La Zanja

3,897


Coimolache

28,094


El Brocal

1,951


 

 


Silver (Oz.)

 


Uchucchacua

1,029,816


El Brocal

1,244,168


Tambomayo

257,290


Julcani

614,164


 

 


Lead (MT)

 


El Brocal

2,239


Uchucchacua

1,014


Tambomayo

1,440


Julcani

113


 

 


Zinc (MT)

 


El Brocal

8,491


Uchucchacua

914


Tambomayo

1,401


 

 


Copper (MT)

 


El Brocal

7,536


 


Realized Metal Prices*


 

 


Gold (Oz)

1,726


Silver (Oz)

26.98


Lead (MT)

2,129


Zinc (MT)

3,220


Copper (MT)

8,994


 

 


*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 2018 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:
Daniel Dominguez, Chief Financial Officer
(511) 419 2540

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

Company Website: www.buenaventura.com.pe/ir

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/ DANIEL DOMINGUEZ

Name: Daniel Dominguez

Title: Chief Financial Officer

 

Date: April 15, 2021