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CORRECTING and REPLACING Buenaventura Announces Third Quarter 2017 Production and Volume Sold Per Metal Results

13.10.2017  |  Business Wire

In the table titled "3Q17 Production per Metal and 2017 Operating Guidance (100% basis)", in the section labeled "Gold", the number for Yanacocha at 3Q17 (Actual) should read 141,923 (instead of 247,321) and the number for 9M17 (Actual) should read 400,400 (instead of 505,798). Also, in the section labeled "Zinc (MT)", the number for El Brocal at 9M17 (Actual) should read: 40,727 (instead of 29,069).

The corrected release reads:

BUENAVENTURA ANNOUNCES THIRD QUARTER 2017 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 3Q17 production and volume sold results as well as 2017 operating guidance (100% basis).

3Q17 Production per Metal and 2017 Operating Guidance (100% basis)

1Q17 (Actual) 2Q17 (Actual) 3Q17 (Actual) 9M17 (Actual) 2017 (Estimated)
Gold (Oz.)
Orcopampa 42,332 46,917 51,672 140,920 190k - 200k
Tambomayo 0 12,454 24,115 36,570 60k - 90k
La Zanja 32,255 30,647 33,569 96,471 115k - 125k
Tantahuatay 31,245 31,725 43,320 106,290 145k - 155k
Yanacocha 137,621 120,856

141,923

400,400

530k - 560k
Silver (Oz.)
Uchucchacua 1 4,021,722 4,311,194 4,121,319 12,454,235 17.0M - 18.0M
Julcani 666,236 647,883 643,051 1,957,169 2.6M - 2.8M
Mallay 320,372 380,369 216,637 917,378 1.0M - 1.3M
Tambomayo 0 295,379 678,828 974,207 1.6M - 1.9M
El Brocal 1,044,908 976,757 1,015,170 3,036,835 3.5M - 4.5M
Zinc (MT)
El Brocal 16,903 12,166 11,658

40,727

50k - 60k
Uchucchacua 1 1,882 2,949 3,891 8,722 10k - 12k
Mallay 2,174 2,244 1,403 5,821 7.0k - 9.0k
Tambomayo 0 59 761 820 2k - 5k
Copper (MT)
El Brocal 11,155 10,308 11,531 32,994 50K - 60K
Cerro Verde 118,744 118,071 TBA TBA 500k - 550k
1. Production from 3Q17 considers 139,336 Ag Oz and 170 Zn MT from Uchucchacua´s material treated in Mallay´s processing plant.

3Q17 Volume sold per Metal(100% basis)

1Q17 (Actual) 2Q17 (Actual) 3Q17 (Actual) 9M17 (Actual)
Gold (Oz.)
Orcopampa 42,101 42,821 54,544 139,466
Tambomayo 0 4,840 26,799 31,639
La Zanja 32,570 31,105 34,662 98,338
Tantahuatay 30,493 32,103 41,621 104,217
Silver (Oz.)
Uchucchacua 3,732,401 3,651,304 4,452,812 11,836,518
Julcani 912,656 394,077 829,755 2,136,488
Mallay 311,157 309,975 160,298 781,431
Tambomayo 0 81,454 656,070 737,524
El Brocal 825,740 750,077 831,154 2,406,971
Zinc (MT)
El Brocal 14,102 9,849 9,884 33,835
Uchucchacua 1,118 2,180 3,291 6,589
Mallay 1,472 2,169 1,132 4,773
Tambomayo 0 0 491 491
Copper (MT)
El Brocal 9,806 10,018 11,243 31,066

Company Description
Compañía de Minas Buenaventura S.A.A. is Peru’s largest, publicly traded, precious metals company and a major holder of mining rights in Peru. The Company is engaged in the mining, processing, development and exploration of gold and silver and other metals via wholly owned mines as well as through its participation in joint exploration projects.

Buenaventura currently operates several mines in Peru (Orcopampa*, Uchucchacua*, Mallay*, Julcani*, Tambomayo*, El Brocal, La Zanja and Coimolache and is developing the San Gabriel project.

The Company owns 43.65% of Minera Yanacocha S.R.L (a partnership with Newmont Mining Corp.), an important precious metal producer; 19.58% of Sociedad Minera Cerro Verde, an important Peruvian copper producer.

For a printed version of the Company’s 2016 Form 20-F, please contact the investor relations contacts on page 1 of this report, or download the PDF format file from the Company’s web site at www.buenaventura.com.

(*) 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



Contact

Compañia de Minas Buenaventura S.A.A.
In Lima:
Carlos Galvez, 511-419-2540
Chief Financial Officer
or
Rodrigo Echecopar, 511-419 2591
Investor Relations Coordinator
rodrigo.echecopar@buenaventura.pe
or
In NY:
Barbara Cano, 646-452-2334
barbara.cano@mbsvalue.com


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