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6-K

Buenaventura Mining Co Inc (BVN)

6-K 2020-10-20 For: 2020-10-20
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Added on April 04, 2026

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 October 2020

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 Third Quarter 2020 Production Results

LIMA, Peru--(BUSINESS WIRE)--October 20, 2020--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 3Q20 results for production and volume sold.

In order to ensure transparency in light of uncertainties associated with the current operating environment, Buenaventura will be releasing its production data on a monthly basis until greater production continuity and visibility have been achieved.

3Q20 Production per Metal
(100% Basis)
Tambomayo 1Q 2Q July Aug Sept 3Q 9M20
Au [Oz] 14,549 17,121 4,007 5,891 6,210 16,108 47,778
Ag [Oz] 385,532 410,010 86,292 154,874 154,746 395,913 1,191,454
Pb [MT] 1,194 1,190 408 509 555 1,472 3,856
Zn [MT] 1,267 831 318 401 574 1,292 3,390
Orcopampa 1Q 2Q July Aug Sept 3Q 9M20
Au [Oz] 8,160 7,612 4,384 6,777 3,936 15,096 30,869
Coimolache 1Q 2Q July Aug Sept 3Q 9M20
Au [Oz] 22,493 13,551 8,399 8,115 9,959 26,473 62,517
La Zanja 1Q 2Q July Aug Sept 3Q 9M20
Au [Oz] 3,297 3,028 1,610 2,076 1,401 5,087 11,411
Yanacocha 1Q 2Q July Aug Sept 3Q 9M20
Au [Oz] 121,802 67,827 25,901 26,543 27,430 79,874 269,503
Julcani 1Q 2Q July Aug Sept 3Q 9M20
Ag [Oz] 550,552 136,177 0 0 323,495 323,495 1,010,224
Pb [MT] 149 29 0 0 76 76 254
Uchucchacua 1Q 2Q July Aug Sept 3Q 9M20
Ag [Oz] 1,956,463 979,008 0 200,149 590,164 790,313 3,725,784
Pb [MT] 2,273 753 0 225 531 756 3,782
Zn [MT] 2,360 462 0 212 716 928 3,750
El Brocal 1Q 2Q July Aug Sept 3Q 9M20
Au [Oz] 4,054 1,049 1,039 1,080 1,236 3,354 8,457
Ag [Oz] 678,067 248,693 400,846 487,026 591,455 1,479,327 2,406,087
Pb [MT] 5,460 2,188 2,628 2,188 3,367 8,182 15,830
Zn [MT] 15,058 4,385 8,195 6,564 7,517 22,277 41,719
Cu [MT] 9,122 3,045 3,132 2,754 3,303 9,190 21,356

Additional Comments

  • Tambomayo: Achieved pre-Covid operating levels since September.

  • Orcopampa: Operated at pre-Covid levels for the duration of the quarter.

  • Coimolache: Ramp-up process continued during July until August, and reached pre-Covid operating levels since September.

  • La Zanja: Operating at pre-Covid levels since August.

  • Julcani: Operating at pre-Covid levels since September, when Julcani also treated prior month inventories. September production therefore reached above-average levels.

  • Uchucchacua: The only remaining Buenaventura mine not yet operating at pre-Covid levels. This is primarily due to a reduced workforce, and shortage of workers required to successfully operate at full capacity.

  • El Brocal: Operated at pre-Covid levels for the duration of the quarter. During the quarter Plant #2 was halted for nine consecutive days in August as part of the Planned Preventive Maintenance (PPM) for this mine.

It is important to note that the Company’s third and fourth quarter mining strategy is to focus operations within high-grade areas to offset COVID-19’s adverse impact on operations.


3Q20 Payable Volume Sold (100% basis)
1Q20 (Actual) 2Q20 (Actual) 3Q20 (Actual) 9M20 (Actual)
Gold (Oz.)
Orcopampa 9,016 3,675 17,159 29,849
Tambomayo 5,286 16,499 17,849 39,634
La Zanja 3,295 4,032 5,346 12,673
Coimolache 23,978 14,549 25,901 64,428
El Brocal 2,639 633 2,038 5,310
Silver (Oz.)
Uchucchacua 1,880,330 644,014 875,489 3,399,834
El Brocal 466,365 187,339 1,182,127 1,835,831
Tambomayo 110,661 487,028 406,946 1,004,636
Julcani 514,114 119,531 289,258 922,903
Lead (MT)
El Brocal 5,145 1,888 7,017 14,050
Uchucchacua 1,972 403 738 3,113
Tambomayo 282 1,547 1,680 3,508
Julcani 95 25 58 179
Zinc (MT)
El Brocal 12,438 3,575 18,589 34,603
Uchucchacua 1,874 366 699 2,939
Tambomayo 992 810 1,058 2,860
Copper (MT)
El Brocal 8,458 2,758 8,799 20,015
Realized Metal Prices*
Gold (Oz) 1,692 1,775 1,939 1,835
Silver (Oz) 17.16 16.67 27.19 20.92
Lead (MT) 1,653 1,460 1,659 1,620
Zinc (MT) 1,824 1,112 2,349 2,005
Copper (MT) 5,536 5,085 6,448 5,875
*Buenaventura consolidated figures

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 / [email protected]**

NY:

          **Barbara Cano** 

          **\(646\) 452 2334                 [email protected]**

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: October 20, 2020