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BVN Compania de Minas Buenaventura

Filed: 15 Oct 21, 11:42am
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 October 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 Results for Third Quarter 2021 Production and Volume Sold per Metal

LIMA, Peru--(BUSINESS WIRE)--October 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 3Q21 production and volume sold.

3Q21 Production per Metal and 2021 Guidance

(100% basis)


1Q21
(Actual)

2Q21
(Actual)

3Q21
(Actual)

9M21
(Actual)

 

Updated 2021
Guidance (1) (2)

 

 

 

 

 

 

 

Gold (Oz.)

 

 

 

 

 

 

Orcopampa

5,986

9,130

15,547

30,663

 

40k - 45k

Tambomayo

15,347

17,964

17,837

51,148

 

69k - 75k

La Zanja

3,908

4,447

5,967

14,322

 

18k - 21k

Coimolache

26,133

30,378

29,597

86,107

 

105k-110k

Yanacocha

62,125

66,563

65,220

193,908

 

315k (3)

El Brocal

3,067

4,317

5,360

12,745

 

17k-19k

 

 

 

 

 

 

 

Silver (Oz.)

 

 

 

 

 

 

Uchucchacua

1,243,916

1,268,082

1,220,393

3,732,391

 

3.7 M

El Brocal

1,574,305

1,603,208

1,482,163

4,659,676

 

5.4M - 6.0M

Tambomayo

284,677

432,638

509,836

1,227,151

 

1.6M - 1.8M

Julcani

648,854

570,248

657,494

1,876,596

 

2.1M - 2.4M

 

 

 

 

 

 

 

Lead (MT)

 

 

 

 

 

 

El Brocal

2,140

2,812

2,754

7,707

 

10.0k - 12.0k

Uchucchacua

1,292

1,715

1,830

4,836

 

4.8K

Tambomayo

1,504

2,767

1,978

6,249

 

7.7k - 8.2k

 

 

 

 

 

 

 

Zinc (MT)

 

 

 

 

 

 

El Brocal

10,207

8,612

8,930

27,748

 

36.0k - 38.0k

Uchucchacua

1,246

3,029

1,928

6,203

 

6.2K

Tambomayo

1,821

3,671

3,397

8,888

 

10.5k - 12.0k

 

 

 

 

 

 

 

Copper (MT)

 

 

 

 

 

 

El Brocal

7,965

10,494

9,146

27,606

 

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 September 2021.

2. Updated guidance could potentially be adversely impacted by further COVID-19 effects.

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


 

Additional Comments

  • Tambomayo:

    3Q21 gold production was in line with expectations. 2021 gold guidance remains unchanged.

    The Company has increased its full year 2021 silver, lead and zinc production guidance.
  • Orcopampa:

    3Q21 successful ramp-up with gold production in line with expectations. 2021 guidance remains unchanged.
  • Coimolache:

    3Q21 gold production in line with expectations. The Company has increased it’s 2021 gold production guidance for Coimolache.
  • La Zanja:

    3Q21 gold production exceeded expectations. The Company has increased its 2021 gold production guidance for La Zanja.
  • Julcani:

    3Q21 silver production was in line with expectations. 2021 guidance remains unchanged.
  • El Brocal:

    3Q21 production was in line with expectations. The Company has decreased its 2021 Gold and Zinc guidance slightly due to decreased processing plant recovery.
  • Uchucchacua:

    3Q21 silver, lead and zinc production below expectations with decreased production due to suspended operations resulting from an illegal road blockade by members of the local community which began on September 13, 2021.

    Decreased 2021 silver production will be partially offset for the remainder of the year by increased production by other mining units.

 

3Q21 Payable Volume Sold

3Q21 Volume sold per Metal (100% basis)





 

1Q21
(Actual)
2Q21
(Actual)
3Q21
(Actual)
9M21
(Actual)






 
Gold (Oz.)




Orcopampa

5,698

9,618

15,646

30,962


Tambomayo

14,631

16,652

15,943

47,225


La Zanja

3,897

4,455

5,169

13,521


Coimolache

28,094

29,815

30,893

88,802


El Brocal

1,951

2,805

3,806

8,562



 

 

 

 


Silver (Oz.)

 

 

 

 


Uchucchacua

1,029,816

1,226,055

1,107,282

3,363,154


El Brocal

1,244,168

1,325,553

1,235,143

3,804,864


Tambomayo

257,290

380,029

445,525

1,082,844


Julcani

614,164

547,606

606,737

1,768,507



 

 

 

 


Lead (MT)

 

 

 

 


El Brocal

2,239

2,597

2,461

7,297


Uchucchacua

1,014

1,450

1,562

4,025


Tambomayo

1,440

2,575

1,813

5,827


Julcani

113

91

83

286



 

 

 

 


Zinc (MT)

 

 

 

 


El Brocal

8,491

7,117

7,367

22,975


Uchucchacua

914

2,309

1,444

4,667


Tambomayo

1,401

3,049

2,304

6,754



 

 

 

 


Copper (MT)

 

 

 

 


El Brocal

7,536

9,948

8,677

26,161







 
Realized Metal Prices*





 

1Q21
(Actual)

2Q21
(Actual)

3Q21
(Actual)

9M21
(Actual)


Gold (Oz)

1,726

1,815

1,764

1,771


Silver (Oz)

26.98

27.06

23.94

25.98


Lead (MT)

2,129

2,192

2,412

2,249


Zinc (MT)

3,220

3,010

3,048

3,088


Copper (MT)

8,994

10,033

9,488

9,553







 
*Buenaventura consolidated figures.

Appendix

1. 3Q21 Production per Metal





 

1Q21
(Actual)
2Q21
(Actual)
3Q21
(Actual)
9M21
(Actual)




 
Gold (Oz.)



Julcani

13

48

85

146


 

 

 

 

Silver (Oz.)

 

 

 

 

Orcopampa

1,043

1,781

4,716

7,539

La Zanja

27,042

20,519

24,011

71,573

Coimolache

200,993

166,327

159,072

526,393

Yanacocha

187,057

33,338

-1,483

218,912


 

 

 

 

Lead (MT)

 

 

 

 

Julcani

146

123

114

383





 

2. 3Q21 Volume Sold per Metal





 

1Q21
(Actual)
2Q21
(Actual)
3Q21
(Actual)
9M21
(Actual)




 
Gold (Oz.)



Julcani

10

46

64

119


 

 

 

 

Silver (Oz.)

 

 

 

 

Orcopampa

1,878

1,518

4,709

8,105

La Zanja

28,964

24,710

26,683

80,356

Coimolache

215,648

178,729

169,499

563,876

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

Gabriel Salas, Head of Investor Relations
(511) 419 2591 / gabriel.salas@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: October 15, 2021