0001157523-19-002039.txt : 20191009 0001157523-19-002039.hdr.sgml : 20191009 20191009170944 ACCESSION NUMBER: 0001157523-19-002039 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20191009 FILED AS OF DATE: 20191009 DATE AS OF CHANGE: 20191009 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BUENAVENTURA MINING CO INC CENTRAL INDEX KEY: 0001013131 STANDARD INDUSTRIAL CLASSIFICATION: METAL MINING [1000] IRS NUMBER: 000000000 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-14370 FILM NUMBER: 191144879 BUSINESS ADDRESS: STREET 1: AVE CARLOS VILLARAN 790 CITY: LIMA STATE: R5 ZIP: 13 BUSINESS PHONE: 5114192536 MAIL ADDRESS: STREET 1: AV. CARLOS VILLARAN 790 CITY: LIMA STATE: R5 ZIP: 13 6-K 1 a52108997.htm BUENAVENTURA MINING COMPANY INC. 6-K
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 2019
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 Third Quarter 2019 Production and Volume Sold per Metal Results

LIMA, Peru--(BUSINESS WIRE)--October 9, 2019--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 preliminary 3Q19 production and volume sold.

3Q19 Production per Metal and 2019
Operating Guidance (100% basis)







 

1Q19
(Actual)

2Q19
(Actual)

3Q19
(Actual)

9M19
(Actual)

Estimated
2019
(Updated)

 

Estimated 2019
(Previous)








 
Gold (Oz.)






Orcopampa

5,949

10,764

10,721

27,434

37k - 45k

 

37k - 45k

Tambomayo

24,034

24,610

21,740

70,384

90k - 110k

 

90k - 110k

La Zanja

13,616

5,443

6,224

25,283

30k - 35k

 

25k - 35k

Tantahuatay

26,273

34,766

49,683

110,722

150k - 170k

 

150k - 170k

Yanacocha

144,423

139,077

142,654

426,154

510k*

 

510k*

El Brocal

3,417

3,704

5,672

12,793

18k - 20k

 

25k - 30k


 

 

 

 

 

 

 

Silver (Oz.)

 

 

 

 

 

 

 

Uchucchacua

1,996,439

3,083,290

2,684,854

7,764,583

11.5M - 12.5M

 

11.5M - 12.5M

El Brocal

764,388

1,449,278

993,883

3,207,550

4.0M - 4.5M

 

4.5M - 5.5M

Tambomayo

515,242

558,034

641,247

1,714,523

2.5M - 3.0M

 

2.5M - 3.0M

Julcani

658,715

642,182

658,883

1,959,780

2.2M - 2.5M

 

2.2M - 2.5M


 

 

 

 

 

 

 

Lead (MT)

 

 

 

 

 

 

 

El Brocal

5,031

8,349

4,393

17,774

22.0k - 26.0k

 

22.0k - 26.0k

Uchucchacua

2,959

5,795

4,708

13,461

20.0k - 21.0k

 

22.0k - 26.0k

Tambomayo

1,946

1,883

1,497

5,325

6.5k -7.5k

 

4.0k - 5.0k

Julcani

241

217

281

739

0.9k - 1.0k

 

0.9k - 1.0k


 

 

 

 

 

 

 

Zinc (MT)

 

 

 

 

 

 

 

El Brocal

10,467

12,476

8,968

31,911

50k - 53k

 

57k - 65k

Uchucchacua

3,904

6,093

5,101

15,099

20k - 25k

 

20k - 25k

Tambomayo

2,506

2,333

2,478

7,316

8k - 9k

 

6k - 8k


 

 

 

 

 

 

 

Copper (MT)

 

 

 

 

 

 

 

El Brocal

8,856

9,671

12,707

31,234

47K - 52K

 

47K - 52K








 
* As announced by Newmont

3Q19 Production Comments

Gold Operations

  • Orcopampa:

    No change to 2019 revised guidance as announced in the second quarter 2019.
  • Tambomayo:

    No change to 2019 gold guidance as announced at the beginning of the year.

    2019 guidance for Tambomayo’s lead and zinc production has increased due to Buenaventura’s mine plan approach which enables access to areas with higher grades and profitability.
  • La Zanja:

    2019 guidance has increased due to higher gold extraction rates.
  • Coimolache:

    No change to 2019 guidance as announced at the beginning of the year.

Silver Operations

  • Uchucchacua:

    No change to revised 2019 silver guidance as announced in the second quarter 2019.

    2019 lead guidance has decreased due to lower than expected grades.

    The Company expects to increase silver production during the fourth quarter 2019 due to access to areas with higher silver grades.
  • Julcani:

    No change to 2019 guidance as announced at the beginning of the year.

Base Metals Operations

  • El Brocal:

    No change to 2019 copper guidance as announced at the beginning of the year.

    2019 guidance for zinc production has been decreased due to prioritizing slope stability in the interest of safety during the third quarter 2019. This area will be fully exploited during 2020.
3Q19 Volume sold per Metal (100% basis)




 

1Q19
(Actual) 		2Q19
(Actual) 		3Q19
(Actual) 		9M19
(Actual)




 
Gold (Oz.)



Orcopampa

4,427

10,391

11,283

26,102

Tambomayo

16,360

27,468

26,568

70,396

La Zanja

12,621

5,521

6,335

24,477

Tantahuatay

26,191

34,455

49,095

109,741

El Brocal

2,178

2,457

3,817

8,452


 

 

 

 

Silver (Oz.)

 

 

 

 

Uchucchacua

1,834,669

2,923,280

2,415,985

7,173,934

El Brocal

592,139

1,228,153

804,700

2,624,992

Tambomayo

399,251

589,667

705,669

1,694,588

Julcani

633,567

585,840

649,276

1,868,683


 

 

 

 

Lead (MT)

 

 

 

 

El Brocal

5,159

7,850

4,176

17,185

Uchucchacua

2,456

5,349

4,072

11,877

Tambomayo

1,551

1,794

2,084

5,429

Julcani

211

178

256

645


 

 

 

 

Zinc (MT)

 

 

 

 

El Brocal

9,387

10,211

7,499

27,097

Uchucchacua

3,402

4,860

3,843

12,104

Tambomayo

1,979

2,000

2,070

6,050


 

 

 

 

Copper (MT)

 

 

 

 

El Brocal

8,313

9,186

11,995

29,493





 




 
Realized Metal Prices




 

1Q19
(Actual) 		2Q19
(Actual) 		3Q19
(Actual) 		9M19
(Actual)
Gold (Oz)

1,301

1,303

1,493

1,373

Silver (Oz)

15.45

14.91

17.69

16.00

Lead (MT)

2,055

1,851

1,947

1,934

Zinc (MT)

2,813

2,875

1,961

2,584

Copper (MT)

6,122

6,077

5,584

5,889

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:
Leandro García, Chief Financial Officer
(511) 419 2540

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

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

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

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/ LEANDRO GARCÍA RAGGIO

Name: Leandro García Raggio

Title: Chief Financial Officer

 
 

Date: October 9, 2019