Business Wire | Oct 15, 2021 09:10AM EDT

Buenaventura Announces Results for Third Quarter 2021 Production and Volume Sold per Metal

Oct. 15, 2021

LIMA, Peru--(BUSINESS WIRE)--Oct. 15, 2021--Compaia 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 2Q21 3Q21 9M21 Updated 2021 (Actual) (Actual) (Actual) (Actual) 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.3Q21 Volume sold per Metal (100% basis) 1Q21 2Q21 3Q21 9M21 (Actual) (Actual) (Actual) (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 2Q21 3Q21 9M21 (Actual) (Actual) (Actual) (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.Appendix1. 3Q21 Production per Metal

1Q21(Actual)2Q21(Actual)3Q21(Actual)9M21(Actual)Gold (Oz.)Julcani13

48

85

146

Silver (Oz.)Orcopampa1,043

1,781

4,716

7,539

La Zanja27,042

20,519

24,011

71,573

Coimolache200,993

166,327

159,072

526,393

Yanacocha187,057

33,338

-1,483

218,912

Lead (MT)Julcani146

123

114

383

2. 3Q21 Volume Sold per Metal

1Q21(Actual)2Q21(Actual)3Q21(Actual)9M21(Actual)Gold (Oz.)Julcani10

46

64

119

Silver (Oz.)Orcopampa1,878

1,518

4,709

8,105

La Zanja28,964

24,710

26,683

80,356

Coimolache215,648

178,729

169,499

563,876

Company Description

Compaa 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211015005374/en/

CONTACT: Contacts in Lima: Daniel Dominguez, Chief Financial Officer (511) 419 2540

CONTACT: Gabriel Salas, Head of Investor Relations (511) 419 2591 / gabriel.salas@buenaventura.pe

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

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