Buenaventura Announces Second Quarter 2019 Results for Production and Volume Sold per Metal

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 2Q19 production and volume sold.

2Q19 Production Comments

Gold Operations

• Orcopampa:

As part of the centralization of the operation (De-Bottlenecking Program), Orcopampa´s headcount was significantly reduced. This reduction is generating more difficulties in terms of labor and community relationships than anticipated, which has resulted in a reduction of Orcopampa’s 2019 production guidance.

However, it is expected that Orcopampa will begin generating positive EBITDA by the fourth quarter 2019.

• Tambomayo:

The 2019 guidance announced at the beginning of the year remains unchanged.

At the end of the second quarter, gold inventory generated exceeded expectations. This inventory should be sold during the third quarter 2019.

• La Zanja:

The 2019 guidance announced at the beginning of the year remains unchanged.

• Coimolache:

The 2019 guidance announced at the beginning of the year remains unchanged.

Silver Operations

• Uchucchacua:

A decrease in 2019 guidance is due to the Company’s De-bottlenecking Program and related optimization of support areas, specifically a headcount reduction. Also, by prioritizing the De-bottlenecking Program over ore mineral extraction, extraction within a 2 million ounce oxide area has been postponed in order to be exploited next year.

The Company expects to achieve Uchucchacua’s full year 2019 new guidance based on an expected increase in production for the third and fourth quarter 2019 as compared to second quarter 2019 production levels.

• Julcani:

The 2019 guidance announced at the beginning of the year remains unchanged.

Base Metals Operations

• El Brocal:

The 2019 guidance announced at the beginning of the year remains unchanged.

As part of the mining plan, third and fourth quarter production will be focused on higher copper grade areas at El Brocal’s underground operation and higher zinc grades coming from the open pit mine.

2Q19 Volume Sold

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 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.

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

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

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

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