6-K

BUENAVENTURA MINING CO INC (BVN)

6-K 2025-02-11 For: 2025-02-11
View Original
Added on April 04, 2026

UNITED STATES

SECURITIES ANDEXCHANGE COMMISSION

Washington, D.C.20549

FORM 6-K

Report of ForeignIssuer

Pursuant to Rule 13a-16or 15d-16

of the SecuritiesExchange Act of 1934

For the monthof February 2025

Commission FileNumber: 001-14370

COMPANIA DE MINASBUENAVENTURA S.A.A.

(Exact name of registrant as specified in its charter)

BUENAVENTURAMINING COMPANY INC.

(Translation of registrant’s name into English)

AV. BEGONIASNO. 415, 19TH FLOOR,

SANISIDRO, LIMA, PERU

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

Form 20-F  x            Form 40-F  ¨

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):

Yes  ¨            No  x

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):

Yes  ¨            No  x

BuenaventuraAnnounces Fourth Quarter 2024 Results for Production and Volume Sold per Metal

Lima, Peru, February 11, 2024 – Compañía 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 4Q24 results for production and volume sold.

Productionper Metal

Three<br> Months<br><br> Ended December 31,<br><br> 2024 Year<br> Ended<br><br> December 31, <br><br> 2024 Year Ended December 31, 2025 Guidance^(1)^
Gold ounces<br> produced
El<br> Brocal 6,317 23,646 15.5k<br> - 18.5k
Orcopampa 16,466 70,892 45.0k<br> - 50.0k
Tambomayo 7,823 33,896 12.5k<br> - 15.5k
Julcani 1,664 4,504 7.5k<br> - 9.5k
La Zanja 7,091 15,746 18.0k<br> – 21.0k
San<br> Gabriel ^(4)^ 0 0 10.0k<br> – 15.0k
Total Direct Operations ^(2)^ 39,362 148,683 108.5k – 129.5k
Coimolache 9,566 48,120 50.0k<br> - 55.0k
Total incl. Associated ^(3)^ 40,761 158,856 122.6k – 144.4k
Silver<br> ounces produced
El Brocal 420,802 2,122,742 1.1M<br> - 1.4M
Uchucchacua 839,090 2,364,035 2.7M<br> - 3.2M
Yumpag<br> ^(5)^ 2,105,606 8,123,445 7.3M<br> - 7.8M
Orcopampa 6,636 29,493 -
Tambomayo 268,602 1,412,092 1.2M<br> - 1.5M
Julcani 312,554 1,402,786 1.5M<br> - 1.8M
La<br> Zanja 8,733 23,637 -
Total Direct Operations ^(2)^ 3,962,024 15,478,231 13.8M - 15.7M
Coimolache 57,741 236,082 0.2M<br> - 0.3M
Total incl. Associated ^(3)^ 3,822,871 14,754,144 13.5M - 15.3M
Lead metric<br> tons produced
Uchucchacua 2,939 13,751 16.0k<br> - 18.0k
Tambomayo 965 4,058 -
Julcani 108 727 0.8k<br> - 1.0k
Total Direct Operations ^(2)^ 4,013 18,536 16.8k - 19.0k
Zinc metric<br> tons produced
El Brocal 0 1,985 -
Uchucchacua 4,684 21,205 23.0k<br> - 26.0k
Tambomayo 1,228 5,262 1.0k<br> - 1.3k
Total Direct Operations ^(2)^ 5,913 28,452 24.0k - 27.3k
Copper<br> metric tons produced
El<br> Brocal 14,191 56,525 55.0k<br> - 60.0k
Total Direct Operations ^(2)^ 14,191 56,525 55.0k - 60.0k
1. 2025 projections<br> are considered to be forward-looking statements and represent management’s good faith<br> estimates or expectations of future production results as of February 2025.
--- ---
2. Considers 100%<br> of Buenaventura’s operating units, 100% of La Zanja and 100% of El Brocal.
3. Considers 100%<br> of Buenaventura’s operating units, 100% of La Zanja, 61.43% of El Brocal and 40.094%<br> of Coimolache.
4. 4Q25 targeted<br> production initiation remains unchanged, subject to final permitting and required approvals.
5. Considers ore<br> from the pilot stope approved within Yumpag EIA-sd.
| 1 |

| --- |

Volume Sold per Metal

Three Months Ended <br><br>December 31, 2024 Year Ended<br><br> December 31, 2024
Gold ounces sold
El Brocal 3,825 14,501
Orcopampa 16,403 70,626
Tambomayo 7,129 31,328
Julcani 1,460 3,987
La Zanja 6,798 15,323
Total Direct Operations ^(1)^ 35,615 135,766
Coimolache 10,414 48,941
Total incl. Associated ^(2)^ 38,315 149,795
Silver ounces sold
El Brocal 336,635 1,739,941
Uchucchacua 734,812 2,080,541
Yumpag ^(3)^ 2,062,192 7,847,952
Orcopampa 4,947 27,121
Tambomayo 232,468 1,268,157
Julcani 290,618 1,342,669
La Zanja 25,694 57,835
Total Direct Operations ^(1)^ 3,687,366 14,364,215
Coimolache 61,500 238,893
Total incl. Associated ^(2)^ 3,582,184 13,788,902
Lead metric tons sold
El Brocal 0 72
Uchucchacua 2,515 12,267
Yumpag ^(3)^ 8 63
Tambomayo 821 3,513
Julcani 91 649
Total Direct Operations ^(1)^ 3,435 16,564
Zinc metric tons sold
El Brocal 0 1,592
Uchucchacua 3,858 17,451
Tambomayo 978 4,209
Total Direct Operations ^(1)^ 4,835 23,252
Copper metric tons sold
El Brocal 13,398 53,107
Tambomayo 63 158
Julcani 8 87
Total Direct Operations ^(1)^ 13,469 53,353
1. Considers 100%<br> of Buenaventura’s operating units, 100% of La Zanja and 100% of El Brocal.
--- ---
2. Considers 100%<br> of Buenaventura’s operating units, 100% of La Zanja, 61.43% of El Brocal and 40.094%<br> of Coimolache.
3. Considers ore<br> from the pilot stope approved within Yumpag EIA-sd.
| 2 |

| --- |

Average realizedprices^(1)(2)^

Year Ended<br><br> December 31, 2024
Gold (US/Oz) 2,641 2,407
Silver (US/Oz) 31.17 28.92
Lead (US/MT) 1,890 2,039
Zinc (US/MT) 3,084 2,715
Copper (US/MT) 8,883 9,063

All values are in US Dollars.

1. Considers Buenaventura<br> consolidated figures.
2. Realized prices<br> include both provisional sales and final adjustments for price changes.

Commentary on Operations

**Tambomayo:**2024 gold production exceeded revised guidance, primarily due to an increase in processed ore. 2024 lead and zinc production were in line with expectations. 2024 silver production underperformed slightly relative to adjusted guidance, primarily due to delays related to poor ground conditions at the high silver grade ore stopes which made extraction more challenging.

2025Guidance: Buenaventura anticipates a decrease in gold, lead, and zinc production at its Tambomayo operations relative to 2024. The Company expects an approximately 40% decrease in throughput for the year, as well as lower gold, lead, and zinc grades as the mining sequence progresses into lower-grade areas. However, higher silver grades in the scheduled 2025 mining areas are expected to offset the decrease in volume processed, resulting in stable silver production, year-on-year.

**Orcopampa:**2024 gold and silver production was in line with expectations.

2025Guidance: Guidance reflects a year-on-year decrease in gold production as well as an approximately 45% reduction in annual throughput, partially offset by higher gold grades expected in the scheduled 2025 mining areas as some stopes from Pucarina and Nazareno veins come into production.

**Coimolache:**2024 Gold production exceeded projections due to an accelerated percolation rate at the leach pad and to higher grades than was previously expected.

2025Guidance: The Company expects a year-on-year increase in gold production due to the expansion of the leach pad, which will be ready to receive fresh ore starting in 2H25. Buenaventura expects to obtain the necessary permits in 1Q25 with expected construction in 2Q25 and the resulting resumption of fresh ore leaching in 3Q25. The Coimolache production plan combines fresh ore with low-grade stockpile ore for leaching on the Tantahuatay pad to offset the decreased production planned for the 1H25.

| 3 |

| --- |

**Julcani:**2024 silver production underperformed slightly relative to adjusted guidance, primarily due to the transition from silver into copper-gold stopes. 2024 gold production therefore exceeded revised guidance slightly, gradually increasing as the operation transitions to zones richer in copper-gold.

2025Guidance: The Company expects a year-on-year increase in silver and gold production due to an approximately 20% increase in expected throughput for the year, driven by an increased contribution of ore extracted from the Socorro sector.

**Uchucchacua:**2024 silver and zinc production was in line with expectations. 2024 lead production underperformed slightly relative to adjusted guidance due to lower than expected grades.

2025Guidance: Buenaventura anticipates a year-on-year increase in silver, lead, and zinc production resulting from an approximately 20% increase in throughput for 2025. This is due to optimized operations at Uchucchacua, which is projected to increase to 2,000 tpd by year-end 2025 from 1,500 tpd currently.

**Yumpag:**2024 Silver production exceeded projections mainly due to higher than expected grades.

2025Guidance: Buenaventura expects a decrease in silver production year-over-year, primarily due to lower silver grades. However, this will be partially mitigated by increased ore volume processed, as 2025 represents Yumpag’s first full 12-months of production at 1,000 tpd; the operations’ maximum allowable throughput based on the environmental permit currently in place. Buenaventura has planned to apply in 2025 for mining extraction rate expansion, enabling these operations to achieve 1,200 tpd during 2026.

ElBrocal: 2024 copper and zinc production was in line with expectations. 2024 gold and silver production exceeded expectations primarily due to better than expected by-product recovery from copper concentrate extracted from the underground mine.

2025Guidance: Buenaventura expects copper production to remain consistent with 2024 levels as underground mine production ramp-up continues, partially offset by lower copper grades. The targeted underground mine exploitation rate at El Brocal exceeded the original 11,500tpd target, reaching 12,500 tpd in 4Q24. A significant decrease in El Brocal silver and gold production is expected in 2025 due to the full depletion of the remaining ore inventory from Colquijirca’s Tajo Norte Mine in 2024, as well as ongoing temporary suspension of mining activities at Tajo Norte Mine. There are no plans for lead and zinc production for 2025.

| 4 |

| --- |

SanGabriel:

2025Guidance: Construction and mine development at San Gabriel will continue as planned during 1H25. In 3Q25, Buenaventura will focus on ensuring the processing plant's operational readiness for commercial production. 4Q25 targeted production initiation remains unchanged, subject to final permitting and required approvals.

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*, La Zanja*, El Brocal and Coimolache).

The Company owns 19.58% of Sociedad Minera Cerro Verde, an important Peruvian copper producer (a partnership with Freeport-McMorRan Inc. and Sumitomo Corporation).

(*) Operations wholly owned by Buenaventura.

Noteon 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 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 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.

| 5 |

| --- |

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

COMPAÑÍA DE MINAS BUENAVENTURA S.A.A.
Date: February 11,<br> 2025 By: /s/<br> DANIEL DOMÍNGUEZ VERA
Name: Daniel Domínguez<br> Vera
Title: Market Relations Officer