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Buenaventura Mining Co Inc 6-K, filed Feb 5, 2021

Buenaventura Mining Co Inc (BVN)

6-K 2021-02-05 For: 2021-02-04
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Added on April 04, 2026

About this 6-K

Buenaventura Mining Co Inc filed this 6-K on February 5, 2021.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.  20549

FORM 6-K

REPORT OF FOREIGN ISSUER

  PURSUANT TO RULE 13a-16 OR 15b-16 OF

  THE SECURITIES EXCHANGE ACT OF 1934

For the month of February 2021

Commission File Number 001-14370

COMPANIA DE MINAS BUENAVENTURA S.A.A.

(Exact name of registrant as specified in its charter)

BUENAVENTURA MINING COMPANY INC.

  \(Translation of registrant’s name into English\)

Republic of Peru

  \(Jurisdiction of incorporation or organization\)

CARLOS VILLARAN 790

  SANTA CATALINA, LIMA 13, PERU

  \(Address of principal executive offices\)

Indicate by check mark whether the registrant files or will file annual reports under cover 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): [ ]

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

Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes _______ No ___X____

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): Not applicable.


Buenaventura Announces Fourth Quarter 2020 Production Results and 2021 Production Guidance


LIMA, Peru--(BUSINESS WIRE)--February 4, 2021--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 4Q20 results for production and volume sold, and 2021 production guidance.

4Q20 Production per metal (100% Basis)
Tambomayo 1Q 2Q 3Q Oct Nov Dec 4Q20 FY20 Revised 2020 Guidance*
Au [Oz] 14,549 17,121 16,108 6,428 6,649 2,621 15,699 63,477 70k - 74k
Ag [Oz] 385,532 410,010 395,913 148,133 214,294 114,700 477,127 1,668,582 1.5M - 1.7M
Pb [MT] 1,194 1,190 1,472 735 749 1,210 2,695 6,550 5.6k - 5.8k
Zn [MT] 1,267 831 1,292 694 574 608 1,876 5,267 5.2k - 5.6k
Orcopampa 1Q 2Q 3Q Oct Nov Dec 4Q20 FY20 Revised 2020 Guidance*
Au [Oz] 8,160 7,612 15,096 - 3,917 6,344 10,260 41,129 40k - 42k
Coimolache 1Q 2Q 3Q Oct Nov Dec 4Q20 FY20 Revised 2020 Guidance*
Au [Oz] 22,493 13,551 26,473 9,408 14,858 19,234 43,500 106,017 100k - 106k
La Zanja 1Q 2Q 3Q Oct Nov Dec 4Q20 FY20 Revised 2020 Guidance*
Au [Oz] 3,297 3,028 5,087 1,786 1,836 2,194 5,817 17,228 13k - 16k
Julcani 1Q 2Q 3Q Oct Nov Dec 4Q20 FY20 Revised 2020 Guidance*
Ag [Oz] 550,552 136,177 323,495 146,891 255,603 264,013 666,507 1,676,731 1.4M - 1.6M
Uchucchacua 1Q 2Q 3Q Oct Nov Dec 4Q20 FY20 Revised 2020 Guidance*
Ag [Oz] 1,956,463 979,008 790,313 422,743 409,402 442,383 1,274,529 5,000,312 4.4M - 5.0M
Pb [MT] 2,273 753 756 386 465 518 1,369 5,151 4.7k - 5.0k
Zn [MT] 2,360 462 928 430 449 595 1,474 5,223 4.7k - 5.0k
El Brocal 1Q 2Q 3Q Oct Nov Dec 4Q20 FY20 Revised 2020 Guidance*
Au [Oz] 4,054 1,049 3,354 1,428 1,203 763 3,395 11,852 12k - 14k
Ag [Oz] 678,067 248,693 1,479,327 406,559 369,144 326,793 1,102,496 3,508,583 3.6M - 4.0M
Pb [MT] 5,460 2,188 8,182 1,728 1,426 1,082 4,235 20,066 17k - 19k
Zn [MT] 15,058 4,385 22,277 4,891 4,449 3,850 13,191 54,909 48k - 51k
Cu [MT] 9,122 3,045 9,190 3,949 2,827 2,476 9,252 30,608 33k - 36k
Yanacocha 1Q 2Q 3Q Oct Nov Dec 4Q20 FY20
Au [Oz] 121,802 67,827 79,874 27,254 21,763 21,531 70,548 340,052

*Buenaventura provided revised 2020 guidance on October 20, 2020.


FY2020 Comments

  • Tambomayo: 2020 silver and zinc production in line with revised 2020 guidance, as announced in the third quarter 2020.

              2020 lead production was slightly above revised 2020 guidance. 
    
              2020 gold production was below revised 2020 guidance due to inventory adjustments after lower-than-expected gold recoveries within the flotation-cyanidation circuit.
    
  • Orcopampa: 2020 gold production was in line with revised guidance.

  • Coimolache: 2020 gold production was in line with revised guidance.

  • La Zanja: 2020 gold production was slightly above revised guidance.

  • Julcani: 2020 silver production was slightly above revised guidance.

  • Uchucchacua: 2020 silver, lead and zinc production was in line with revised guidance. The Company’s primary operational focus for this operation during the fourth quarter was on the ramp-up of mine development and exploration which was adversely affected by a reduced workforce during prior quarters in 2020 due to the COVID-19 pandemic.

  • El Brocal: Tajo Norte’s production exceeded revised 2020 guidance, due to access to high grade areas resulting from accelerated stripping.

              Marcapunta’s production was below revised 2020 guidance, mainly due to limited availability of ore transportation vehicles.
    

4Q20 Payable Volume Sold (100% basis)

4Q20 Payable Volume sold per Metal (100% basis)
1Q20 (Actual) 2Q20 (Actual) 3Q20 (Actual) 4Q20 (Actual) FY20 (Actual)
Gold (Oz.)
Orcopampa 9,016 3,675 17,159 11,907 41,757
Tambomayo 5,286 16,499 17,849 17,999 57,633
La Zanja 3,295 4,032 5,346 5,057 17,730
Coimolache 23,978 14,549 25,901 40,369 104,797
El Brocal 2,639 633 2,038 2,080 7,390
Silver (Oz.)
Uchucchacua 1,880,330 644,014 875,489 1,166,790 4,566,624
El Brocal 466,365 187,339 1,182,127 860,675 2,696,506
Tambomayo 110,661 487,028 406,946 469,849 1,474,485
Julcani 514,114 119,531 289,258 619,666 1,542,568
Lead (MT)
El Brocal 5,145 1,888 7,017 3,775 17,824
Uchucchacua 1,972 403 738 1,095 4,209
Tambomayo 282 1,547 1,680 2,501 6,009
Julcani 95 25 58 128 306
Zinc (MT)
El Brocal 12,438 3,575 18,589 10,839 45,442
Uchucchacua 1,874 366 699 1,127 4,066
Tambomayo 992 810 1,058 1,603 4,463
Copper (MT)
El Brocal 8,458 2,758 8,799 8,933 28,948
Realized Metal Prices*
Gold (Oz) 1,692 1,775 1,939 1,858 1,842
Silver (Oz) 17.16 16.67 27.19 24.96 22.14
Lead (MT) 1,653 1,460 1,659 1,954 1,708
Zinc (MT) 1,824 1,112 2,349 2,915 2,234
Copper (MT) 5,536 5,085 6,448 7,121 6,259
*Buenaventura consolidated figures

2021 Production Guidance

2021 Estimated Production
Tambomayo 2021E*
Au [Oz] 69k - 75k
Ag [Oz] 1.2M - 1.4M
Pb [MT] 5.9k - 6.5k
Zn [MT] 6.9k - 7.5k
Orcopampa 2021E*
Au [Oz] 40k - 45k
Coimolache 2021E*
Au [Oz] 99k - 106k
La Zanja 2021E*
Au [Oz] 12k - 15k
Julcani 2021E*
Ag [Oz] 2.1M - 2.4M
Uchucchacua 2021E*
Ag [Oz] 8.0M - 9.0M
Pb [MT] 7.0k - 10.0k
Zn [MT] 7.0k - 10.0k
El Brocal 2021E*
Au [Oz] 20k - 25k
Ag [Oz] 5.4M - 6.0M
Pb [MT] 12.0k - 16.0k
Zn [MT] 47.0k - 52.0k
Cu [MT] 37.0k - 42.0k

*******Please note that 2021 estimated production could potentially be adversely impacted by further COVID-19 effects.

Buenaventura will be issuing additional 2021 guidance within the Company’s Q4 2020 Earnings Results Press Release on February 25, 2021.


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. and Sumitomo Corporation).

For a printed version of the Company’s 2019 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.

Contacts

Lima:

          **Daniel Dominguez, Chief Financial Officer** 

          **\(511\) 419 2540**

Rodrigo Echecopar, Head of Investor Relations

          **\(511\) 419 2591 / rodrigo.echecopar@buenaventura.pe**

NY:

          **Barbara Cano** 

          **\(646\) 452 2334** 

          **barbara@inspirgroup.com**

Company Website: www.buenaventura.com.pe/ir


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.

By: /s/ DANIEL DOMINGUEZ

Name: Daniel Dominguez

Title: Chief Financial Officer

Date: February 4, 2021