Buenaventura Announces Third Quarter 2019 Production and Volume Sold per Metal Results

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 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.

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20191009005764/en/

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