Benzinga | Oct 15, 2021 09:11AM EDT

Buenaventura Reports Q3 Production Results, Updates FY21 Guidance

Compa?ia 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 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.

Appendix

1. 3Q21 Production per Metal

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