Buenaventura Announces Three-Day Work Stoppage at the Uchucchacua Mine
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 that the Contractors’ Union at Buenaventura’s Uchucchacua mine initiated a strike on January 9, 2019. The Contractors’ Union claims “unsuitable working conditions” and has also expressed grievances due to Buenaventura’s dismissal of certain contracted employees at the Uchucchacua mine, due to the Company’s conclusion of some services required by contractor companies.
The Peruvian Labor Authority has declared this strike illegal.
Buenaventura will continue to provide updates on related developments or changes as they occur.
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*, Mallay*, Julcani*, Tambomayo*, El Brocal, La Zanja and Coimolache).
The Company owns 43.65% of Minera Yanacocha S.R.L (a partnership with Newmont Mining Corp.), 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 2017 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/20190111005458/en/
Contact
In Lima:
Leandro Garcia Chief Financial Officer
(511) 419 2540
Rodrigo Echecopar, Investor Relations Coordinator
(511) 419 2591/ rodrigo.echecopar@buenaventura.pe
Company Website: www.buenaventura.com
In NY:
Barbara Cano
(646) 452 2334
barbara@inspirgroup.com
