Buenaventura Announces Contractors Strike at Orcopampa Mine
Compañia de Minas Buenaventura S.A.A. ('the Company? or 'Buenaventura?)
(NYSE: BVN; Lima Stock Exchange: BUE.LM), announced today that the
Orcopampa Contractors Union began a strike within the frame of the
annual negotiations. This work stoppage started to affect production on
Tuesday, October 9, 2012.
The Peruvian Ministry of Labor has denied the proceeding of this strike
at first instance. However, negotiations are progressing and the Company
believes that this issue can be solved in short order.
The Company will keep the market updated with regards to any
developments or changes as they occur.
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*,
Poracota*, Uchucchacua*, Antapite*, Julcani*, Recuperada*, El Brocal, La
Zanja, Coimolache and CEDIMIN*).
The Company owns 43.65% of Minera Yanacocha S.R.L (a partnership with
Newmont Mining Corporation), an important precious metal producer;
19.56% of Sociedad Minera Cerro Verde, an important Peruvian copper
producer, and 49% of Canteras del Hallazgo S.A, owner the Chucapaca
project.
For a printed version of the Company′s 2011 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
Cautionary Statement
This news release contains 'forward-looking statements? within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended, that are
intended to be covered by the safe harbor created by such sections. Such
forward-looking statements include, without limitation, statements
regarding future mining or permitting activities. Where Buenaventura
expresses or implies an expectation or belief as to future events or
results, such expectation or belief is expressed in good faith and
believed to have a reasonable basis. However, forward-looking statements
are subject to risks, uncertainties and other factors, which could cause
actual results to differ materially from future results expressed,
projected or implied by such forward-looking statements. Such risks
include 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 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,
economical, legal and social developments. For a more detailed
discussion of such risks and other factors, see the company′s 2006
Annual Report on Form 20-F, which is on file with the Securities and
Exchange Commission, as well as the company′s other SEC filings.
Buenaventura does not undertake any obligation to release publicly
revisions to any 'forward-looking statement,? to reflect events or
circumstances after the date of this news release, or to reflect the
occurrence of unanticipated events, except as may be required under
applicable securities laws.
Lima:
Roque Benavides / Carlos Galvez
Compañia de Minas
Buenaventura S.A.A.
Tel: (511) 419-2538 / 419-2540
Investor
Relations: Daniel Dominguez
Tel: (511) 419-2536
Email: ddominguez@buenaventura.com.pe
or
New
York:
Peter Majeski
i-advize Corporate Communications, Inc.
Tel:
(212) 406-3694
Email: buenaventura@i-advize.com
or
Visit
our website:
http://www.buenaventura.com
