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 Corporation), 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

View source version on businesswire.com: http://www.businesswire.com/news/home/20170117006322/en/

Contacts in LimaCarlos Galvez, Chief Financial OfficerTel [phone]orDaniel Dominguez, Manager of Financial Planning and Investor RelationsTel (511) 419 [e-mail] Echecopar, Investor Relations CoordinatorTel (511) 419 [e-mail] in New YorkMonique Skruzny - Barbara CanoMBS Value Partners