6-K
Buenaventura Mining Co Inc (BVN)
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 July 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 Second Quarter 2020 Production Results
LIMA, Peru--(BUSINESS WIRE)--July 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 2Q20 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 is possible.
| 2Q20 Production per Metal (100% Basis) | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Phase 1 | |||||||||
| Tambomayo | Jan | Feb | Mar | 1Q | Apr | May | Jun | 2Q | 6M20 |
| Au [Oz] | 5,111 | 7,067 | 2,371 | 14,549 | 2,804 | 6,162 | 8,155 | 17,121 | 31,670 |
| Ag [Oz] | 132,079 | 200,105 | 53,347 | 385,532 | 99,322 | 151,018 | 159,670 | 410,010 | 795,541 |
| Pb [MT] | 543 | 443 | 208 | 1,194 | 213 | 351 | 626 | 1,190 | 2,384 |
| Zn [MT] | 609 | 461 | 197 | 1,267 | 182 | 243 | 405 | 831 | 2,098 |
| Uchucchacua | Jan | Feb | Mar | 1Q | Apr | May | Jun | 2Q | 6M20 |
| Ag [Oz] | 773,878 | 767,022 | 415,563 | 1,956,463 | 0 | 451,825 | 527,183 | 979,008 | 2,935,471 |
| Pb [MT] | 1,044 | 814 | 414 | 2,273 | 0 | 245 | 508 | 753 | 3,026 |
| Zn [MT] | 1,179 | 861 | 320 | 2,360 | 0 | 107 | 355 | 462 | 2,822 |
| El Brocal | Jan | Feb | Mar | 1Q | Apr | May | Jun | 2Q | 6M20 |
| Au [Oz] | 1,570 | 1,476 | 1,008 | 4,054 | 0 | 0 | 1,049 | 1,049 | 5,103 |
| Ag [Oz] | 221,958 | 267,914 | 188,195 | 678,067 | 0 | 0 | 248,693 | 248,693 | 926,761 |
| Pb [MT] | 1,535 | 2,579 | 1,346 | 5,460 | 0 | 0 | 2,188 | 2,188 | 7,648 |
| Zn [MT] | 5,089 | 5,692 | 4,277 | 15,058 | 0 | 0 | 4,385 | 4,385 | 19,442 |
| Cu [MT] | 3,415 | 3,053 | 2,654 | 9,122 | 0 | 0 | 3,045 | 3,045 | 12,167 |
| Coimolache | Jan | Feb | Mar | 1Q | Apr | May | Jun | 2Q | 6M20 |
| Au [Oz] | 10,095 | 6,679 | 5,719 | 22,493 | 4,635 | 3,532 | 5,385 | 13,551 | 36,044 |
| Phase 2 | |||||||||
| Julcani | Jan | Feb | Mar | 1Q | Apr | May | Jun | 2Q | 6M20 |
| Ag [Oz] | 217,316 | 219,535 | 113,700 | 550,552 | 249 | 0 | 135,928 | 136,177 | 686,729 |
| Pb [MT] | 54 | 59 | 36 | 149 | 0 | 0 | 29 | 29 | 178 |
| Orcopampa | Jan | Feb | Mar | 1Q | Apr | May | Jun | 2Q | 6M20 |
| Au [Oz] | 3,992 | 4,129 | 40 | 8,160 | 0 | 0 | 7,612 | 7,612 | 15,773 |
| La Zanja | Jan | Feb | Mar | 1Q | Apr | May | Jun | 2Q | 6M20 |
| Au [Oz] | 614 | 1,750 | 932 | 3,297 | 0 | 1,779 | 1,249 | 3,028 | 6,325 |
| *Silver guidance expressed in millions and gold, Copper, Lead and Zinc guidance expressed in thousands. | |||||||||
| **Guidance is subject to continuous review based on the possible disruptions related to COVID-19 (increase of cases at our operations, new<br> government regulations and social disruptions). | |||||||||
| Yanacocha Production | |||||||||
| Jan | Feb | Mar | 1Q | Apr | May | Jun | 2Q | 6M20 | |
| Au [Oz] | 45,520 | 35,326 | 40,956 | 121,802 | 21,680 | 17,070 | 29,078 | 67,827 | 189,629 |
Phase 1
Tambomayo
- Total workforce (approx.): 700
- All workers remain within operations footprint
- Operation isolated from communities
- COVID-19 mortality rate at regional level per millions of people*: 324 vs 381 (national average)
Uchucchacua
- Total workforce (approx.): 1,800
- All workers remain within operations footprint
- Operation isolated from communities
- COVID-19 mortality rate at regional level per millions of people*: 553 vs 381 (national average)
El Brocal
- Total workforce (approx.): 2,000
- Workers partially accommodated within operational footprint
- Communities located near the operation
- COVID-19 mortality rate at regional level per millions of people*: 118 vs 381 (national average)
Coimolache:
- Total workforce (approx.): 1,200
- All workers remain within operations footprint
- Operation isolated from communities
- COVID-19 mortality rate at regional level per millions of people*: 93 vs 381 (national average)
Phase 2
Julcani:
- Total workforce (approx.): 950
- Workers partially accommodated within operations footprint
- Communities located near the operation
- COVID-19 mortality rate at regional level per millions of people*: 65 vs 381 (national average)
Orcopampa:
- Total workforce (approx.): 800
- Workers partially accommodated within operations footprint
- Communities located near the operation
- COVID-19 mortality rate at regional level per millions of people*: 324 vs 381 (national average)
La Zanja:
- Total workforce (approx.): 750
- All workers remain within operations footprint
- Isolated from communities
- COVID-19 mortality rate at regional level per millions of people*: 93 vs 381 (national average)
*Source: Macroconsult Daily Bulletin “Covid-19 and the economy” 07/15/2020
| 2Q20 Payable Volume sold per Metal (100% basis) | |||
|---|---|---|---|
| 1Q20 (Actual) | 2Q20 (Actual) | 1H20 (Actual) | |
| Gold (Oz.) | |||
| Orcopampa | 9,016 | 3,675 | 12,690 |
| Tambomayo | 5,286 | 16,499 | 21,785 |
| La Zanja | 3,295 | 4,032 | 7,327 |
| Coimolache | 23,978 | 14,549 | 38,528 |
| El Brocal | 2,639 | 633 | 3,272 |
| Silver (Oz.) | |||
| Uchucchacua | 1,880,330 | 644,014 | 2,524,344 |
| El Brocal | 466,365 | 187,339 | 653,704 |
| Tambomayo | 110,661 | 487,028 | 597,690 |
| Julcani | 514,114 | 119,531 | 633,645 |
| Lead (MT) | |||
| El Brocal | 5,145 | 1,888 | 7,033 |
| Uchucchacua | 1,972 | 403 | 2,375 |
| Tambomayo | 282 | 1,547 | 1,828 |
| Julcani | 95 | 25 | 121 |
| Zinc (MT) | |||
| El Brocal | 12,438 | 3,575 | 16,013 |
| Uchucchacua | 1,874 | 366 | 2,240 |
| Tambomayo | 992 | 810 | 1,802 |
| Copper (MT) | |||
| El Brocal | 8,458 | 2,758 | 11,217 |
| Realized Metal Prices* | |||
| Gold (Oz) | 1,692 | 1,775 | 1,738 |
| Silver (Oz) | 17.16 | 16.67 | 17.00 |
| Lead (MT) | 1,653 | 1,460 | 1,587 |
| Zinc (MT) | 1,824 | 1,112 | 1,655 |
| Copper (MT) | 5,536 | 5,085 | 5,425 |
| *Buenaventura consolidated figures |
Compañía de Minas Buenaventura S.A.A.
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., Sumitomo Corporation & Sumitomo Metals).
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
Contacts in Lima: Leandro García, Chief Financial Officer
**\(511\) 419 2540**
Rodrigo Echecopar, Head of Investor Relations
**\(511\) 419 2591 / [email protected]**
Contacts in NY: Barbara Cano
**\(646\) 452 2334**
**[email protected]**
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/ LEANDRO GARCÍA RAGGIO
Name: Leandro García Raggio
Title: Chief Financial Officer
Date: July 20, 2020