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 Corporation), 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
View source version on businesswire.com: http://www.businesswire.com/news/home/20171012006514/en/
Contacts:
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
