Buenaventura Mining Co Inc 6-K, filed Jul 27, 2022

Buenaventura Mining Co Inc (BVN)

6-K 2022-07-27 For: 2022-07-26

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Added on April 04, 2026

About this 6-K

Buenaventura Mining Co Inc filed this 6-K on July 27, 2022.

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	2Q22	2Q21	Var	6M22	6M21	Var
Total Revenues	150.1	240.9	-38%	383.0	426.7	-10%
Operating Income	-70.4	10.5	N.A.	6.9	1.0	N.A.
EBITDA Direct Operations	-19.1	68.5	N.A.	412.9	108.2	282%
EBITDA Including Affiliates	51.6	180.9	-71%	630.4	343.6	83%
Net Income	-39.9	37.5	N.A.	596.3	53.9	N.A.
EPS	-0.16	0.15	N.A.	2.35	0.21	N.A.

Operating Highlights	2Q22	2Q21	%	6M22	6M21	%
Net Sales (million of US$)	150.1	235.9	-36%	381.6	417.9	-9%
Average Gold Price (US$/oz.) Direct Operations ^{(1) (2)}	1,825	1,815	1%	1,861	1,776	5%
Average Gold Price (US$/oz.) inc Associated ^{(2) (3)}	1,829	1,813	1%	1,861	1,779	5%
Average Silver Price (US$/oz.) ⁽²⁾	22.71	27.06	-16%	23.42	27.02	-13%
Average Lead Price (US$/MT) ⁽²⁾	2,180	2,192	-1%	2,280	2,166	5%
Average Zinc Price (US$/MT) ⁽²⁾	4,489	3,010	49%	4,257	3,108	37%
Average Copper Price (US$/MT) ⁽²⁾	9,073	10,033	-10%	9,498	9,585	-1%

Volume Sold	2Q22	2Q21	%	6M22	6M21	%
Gold Oz Direct Operations ⁽¹⁾	37,718	33,575	12%	77,885	59,763	30%
Gold Oz inc Associated ⁽³⁾	45,958	45,529	1%	94,379	82,981	14%
Silver Oz	1,813,579	3,505,471	-48%	3,701,368	6,681,750	-45%
Lead MT	3,811	6,713	-43%	8,401	11,517	-27%
Zinc MT	6,632	12,476	-47%	16,810	23,282	-28%
Copper MT	10,330	9,966	4%	20,063	17,517	15%

(1)	Buenaventura Consolidated figure includes 100% of Buenaventura’s operating units, 100% of La Zanja and 100% of El Brocal.
(2)	The realized price takes into account the adjustments of quotational periods.
(3)	Considers 100% of Buenaventura’s operating units, 100% of La Zanja, 100% of El Brocal and 40.095% of Coimolache.

Equity Production	2Q22	2Q21	%	6M22	6M21	%
Gold Oz Direct Operations⁽¹⁾	39,605	34,241	16%	81,075	61,379	32%
Gold Oz including Associated⁽²⁾ Companies	47,596	46,421	3%	96,889	84,037	15%
Silver Oz Direct Operations⁽¹⁾	1,607,230	3,278,118	-51%	3,369,931	6,450,745	-48%
Lead MT	3,749	6,332	-41%	7,891	10,589	-25%
Zinc MT	6,467	11,990	-46%	15,400	21,326	-28%
Copper MT Direct Operations⁽¹⁾	6,473	6,447	0%	12,714	11,340	12%
Copper MT including Associated Companies⁽³⁾	27,900	24,769	13%	55,157	48,916	13%

Consolidated Production	2Q22	2Q21	%	6M22	6M21	%
Gold Oz⁽⁴⁾	41,324	35,906	15%	84,471	64,227	32%
Silver Oz⁽⁴⁾	1,918,152	3,896,475	-51%	4,089,566	7,676,312	-47%
Lead Pb⁽⁴⁾	4,253	7,417	-43%	9,357	12,499	-25%
Zinc MT⁽⁴⁾	8,066	15,311	-47%	20,382	28,585	-29%
Copper MT⁽⁴⁾	10,537	10,494	0%	20,696	18,460	12%

(1)	Buenaventura’s Direct Operations includes 100% of Buenaventura’s operating units, 100% of La Zanja and 61.43% of El Brocal.
(2)	Based on 100% of Buenaventura´s operating units, 100% of La Zanja, 61.43% of El Brocal and 40.095% of Coimolache.
(3)	Based on 100% of Buenaventura´s operating units, 61.43% of El Brocal and 19.58% of Cerro Verde.
(4)	Based on 100% of Buenaventura’s operating units, 100% of La Zanja and 100% of El Brocal

Production
		2Q22	2Q21	Var %	6M22	6M21	Var %
Gold	Oz	14,351	17,964	-20%	28,218	33,311	-15%
Silver	Oz	433,820	432,638	0%	853,216	717,315	19%

Cost Applicable to Sales
		2Q22	2Q21	Var %	6M22	6M21	Var %
Gold	US$/Oz	944	873	8%	977	895	9%

Share in the Result of Associates (in millions of US$)	2Q21	2Q20	Var	6M21	6M20	Var
Cerro Verde	25.0	47.1	-47%	99.4	101.2	-2%
Coimolache	-0.6	3.4	N.A.	0.5	7.9	-94%
Other minor	-2.2	-0.4	423%	-2.2	-0.8	189%
Total	22.3	50.0	-55%	97.7	108.3	10%

Equity Participation in Subsidiaries and Associates (as of June 30, 2021)
	BVN	Operating
	Equity %	Mines / Business
El Molle Verde S.A.C*	100.00	Trapiche Project
Minera La Zanja S.A*	100.00	La Zanja
Sociedad Minera El Brocal S.A.A*	61.43	Colquijirca and Marcapunta
Compañía Minera Coimolache S.A. **	40.10	Tantahuatay
Sociedad Minera Cerro Verde S.A.A **	19.58	Cerro Verde
Processadora Industrial Rio Seco S.A*	100.00	Rio Seco chemical plant
Consorcio Energético de Huancavelica S.A*	100.00	Energy – Huanza Hydroelectrical plant

Mining Unit	Operating Results	Unit	2Q22	2Q21	△%	6M22	6M21	△ %
Underground
Tambomayo	Ore Milled	DMT	164,266	150,476	9%	306,559	262,749	17%
	Ore Grade	Gr/MT	3.08	4.27	-28%	3.27	4.74	-31%
	Recovery Rate	%	88.21	86.95	1%	87.67	83.11	5%
	Ounces Produced	Oz	14,351	17,964	-20%	28,218	33,311	-15%
Orcopampa	Ore Milled	DMT	57,309	31,607	81%	116,606	48,659	140%
	Ore Grade	Gr/MT	6.41	9.91	-35%	8.25	10.19	-19%
	Recovery Rate	%	100.07	90.64	10%	99.79	94.85	5%
	Ounces Produced*	Oz	17,749	9,130	94%	36,780	15,116	143%
Open Pit
La Zanja	Ounces Produced	Oz	4,767	4,447	7%	10,667	8,355	28%
Coimolache	Ounces Produced	Oz	19,930	30,378	-34%	39,442	56,510	-30%

Silver Production
Mining Unit	Operating Results	Unit	2Q22	2Q21	△%	6M22	6M21	△ %
Underground
Tambomayo	Ore Milled	DMT	164,266	150,476	9%	306,559	262,749	17%
	Ore Grade	Oz/MT	2.69	3.13	-14%	2.92	3.14	-7%
	Recovery Rate	%	98.25	91.96	7%	95.36	86.82	10%
	Ounces Produced	Oz	433,820	432,638	0%	853,216	717,315	19%
Uchucchacua	Ore Milled	DMT	-	292,177	N.A.	-	483,398	N.A.
	Ore Grade	Oz/MT	-	5.93	N.A.	-	6.66	N.A.
	Recovery Rate	%	-	73.20	N.A.	-	78.03	N.A.
	Ounces Produced	Oz	-	1,268,082	N.A.	-	2,511,997	N.A.
Julcani	Ore Milled	DMT	32,112	30,024	7%	63,603	62,163	2%
	Ore Grade	Oz/MT	20.33	18.77	8%	20.82	19.77	5%
	Recovery Rate	%	98.13	96.88	1%	98.30	96.86	1%
	Ounces Produced	Oz	640,557	570,248	12%	1,301,689	1,219,102	7%
Marcapunta	Ore Milled	DMT	742,030	644,455	15%	1,380,010	1,142,223	21%
	Ore Grade	Oz/MT	0.78	0.97	-20%	0.82	0.88	-6%
	Recovery Rate	%	50.64	48.62	4%	52.23	50.82	3%
	Ounces Produced	Oz	291,328	303,197	-4%	593,736	508,753	17%
Open Pit
Tajo Norte Cu - Ag	Ore Milled	DMT	57,405	185,554	-69%	156,342	237,396	-34%
	Ore Grade	Oz/MT	1.88	4.77	-61%	2.15	4.63	-54%
	Recovery Rate	%	54.79	57.18	-4%	53.16	54.90	-3%
	Ounces Produced	Oz	59,130	505,739	-88%	178,769	608,128	-71%
Tajo Norte Pb - Zn	Ore Milled	DMT	468,339	584,976	-20%	1,060,451	1,159,724	-9%
	Ore Grade	Oz/MT	1.97	1.89	4%	1.92	2.46	-22%
	Recovery Rate	%	49.34	71.77	-31%	53.58	72.14	-26%
	Ounces Produced	Oz	455,665	794,272	-43%	1,093,284	2,060,632	-47%

Zinc Production
Mining Unit	Operating Results	Unit	2Q22	2Q21	△%	6M22	6M21	△ %
Underground
Tambomayo	Ore Milled	DMT	164,266	150,476	9%	306,559	262,749	17%
	Ore Grade	%	2.43	3.07	-21%	2.70	2.74	-1%
	Recovery Rate	%	98.36	79.48	24%	90.01	76.23	18%
	MT Produced	MT	3,920	3,671	7%	7,464	5,491	36%
Uchucchacua	Ore Milled	DMT	-	292,177	N.A.	-	483,398	N.A.
	Ore Grade	%	-	1.76	N.A.	-	1.57	N.A.
	Recovery Rate	%	-	58.84	N.A.	-	56.39	N.A.
	MT Produced	MT	-	3,029	N.A.	-	4,275	N.A.
Open Pit
Tajo Norte Pb - Zn	Ore Milled	DMT	468,339	584,976	-20%	1,060,451	1,159,724	-9%
	Ore Grade	%	2.15	2.49	-14%	2.35	2.65	-11%
	Recovery Rate	%	41.26	59.23	-30%	51.83	61.27	-15%
	MT Produced	MT	4,146	8,612	-52%	12,918	18,819	-31%


Copper Production
Mining Unit	Operating Results	Unit	2Q22	2Q21	△%	6M22	6M21	△ %
Underground
Marcapunta	Ore Milled	DMT	742,030	644,455	15%	1,380,010	1,142,223	21%
	Ore Grade	%	1.61	1.69	-5%	1.68	1.70	-1%
	Recovery Rate	%	85.24	85.06	0%	84.54	86.14	-2%
	MT Produced	MT	10,192	9,252	10%	19,600	16,699	17%
Tajo Norte Cu - Ag	Ore Milled	DMT	57,405	185,554	-69%	156,342	237,396	-34%
	Ore Grade	%	0.93	1.05	-12%	1.13	0.99	14%
	Recovery Rate	%	64.93	64.00	1%	62.17	62.93	-1%
	MT Produced	MT	345	1,242	-72%	1,096	1,482	-26%

Set forth below is a reconciliation of consolidated Cost of sales, excluding depreciation and amortization,
to consolidated Cost applicable to sales:

	For the 3 months ended June 30		For the 6 months ended June 30
	2022	2021	2022	2021
	(in thousands of US$)
Consolidated Cost of sales excluding depreciation and amortization	117,274	136,979	225,242	251,249
Add:
Consolidated Exploration in units in operation	18,904	14,515	32,921	23,843
Consolidated Commercial deductions	44,963	55,703	95,848	98,761
Consolidated Selling expenses	5,044	5,697	9,636	9,755
Consolidated Cost applicable to sales	186,185	212,894	363,647	383,608

Set forth below is a reconciliation of Cost of sales, excluding depreciation and amortization
(by mine and mineral) to consolidated Cost of sales:

	For the 3 months ended June 30		For the 6 months ended June 30
	2022	2021	2022	2021
Cost of sales by mine and mineral	(in thousands of US$)
Julcani, Gold	37	36	0	40
Julcani, Silver	6,782	6,924	14,085	14,442
Julcani, Lead	97	97	179	205
Julcani, Copper	89	18	142	31
Orcopampa, Gold	15,182	13,274	29,017	23,317
Orcopampa, Silver	130	31	185	85
Orcopampa, Copper	0	0	0	0
Uchucchacua, Gold	0	0	0	0
Uchucchacua, Silver	0	22,260	0	44,648
Uchucchacua, Lead	0	2,090	0	3,710
Uchucchacua, Zinc	0	4,576	0	6,901
Tambomayo, Gold	8,824	10,623	17,352	21,044
Tambomayo, Silver	3,108	3,581	6,179	6,535
Tambomayo, Zinc	2,216	1,875	9,765	5,042
Tambomayo, Lead	5,206	3,225	4,258	3,162
La Zanja, Gold	6,580	7,728	18,252	13,917
La Zanja, Silver	517	622	1,112	1,339
El Brocal, Gold	2,322	1,693	4,250	2,780
El Brocal, Silver	7,134	12,048	14,843	22,258
El Brocal, Lead	1,058	2,010	3,106	3,587
El Brocal, Zinc	7,514	7,129	18,384	15,992
El Brocal, Copper	43,520	32,939	76,589	53,920
Non Mining Units	6,959	4,198	7,543	8,294
Consolidated Cost of sales, excluding depreciation and amortization	117,274	136,979	225,242	251,249

Set forth below is a reconciliation of Exploration expenses in units in operation (by mine and mineral) to consolidated Exploration expenses in mining units:

	For the 3 months ended June 30		For the 6 months ended June 30
	2022	2021	2022	2021
Exploration expenses in units in operation by mine and mineral	(in thousands of US$)
Julcani, Gold	9	7	0	8
Julcani, Silver	1,602	1,405	3,054	2,857
Julcani, Lead	23	20	39	41
Julcani, Copper	21	4	31	6
Orcopampa, Gold	3,495	2,453	6,172	4,244
Orcopampa, Silver	30	6	39	15
Orcopampa, Copper	0	0	0	0
Uchucchacua, Gold	0	0	0	0
Uchucchacua, Silver	5,883	2,991	8,813	4,920
Uchucchacua, Lead	78	281	0	409
Uchucchacua, Zinc	0	615	0	760
Tambomayo, Gold	1,180	1,571	2,271	2,411
Tambomayo, Silver	416	530	809	749
Tambomayo, Lead	296	277	557	362
Tambomayo, Zinc	696	477	1,278	578
La Zanja, Gold	708	126	1,398	124
La Zanja, Silver	56	10	85	12
El Brocal, Gold	166	114	304	179
El Brocal, Silver	511	808	1,061	1,434
El Brocal, Lead	76	135	222	231
El Brocal, Zinc	539	478	1,314	1,030
El Brocal, Copper	3,119	2,208	5,475	3,473
Non Mining Units	0	0	0	0
Consolidated Exploration expenses in units in operation	18,904	14,515	32,921	23,843

Set forth below is a reconciliation of Commercial Deductions in units in operation (by mine and mineral)
to consolidated Commercial deductions:

	For the 3 months ended June 30		For the 6 months ended June 30
	2022	2021	2022	2021
Commercial Deductions in units in operation by mine and mineral	(in thousands of US$)
Julcani, Gold	2	6	-8	7
Julcani, Silver	442	1,165	1,145	2,152
Julcani, Lead	6	16	14	30
Julcani, Copper	6	2	10	4
Orcopampa, Gold	309	66	390	84
Orcopampa, Silver	12	0	13	3
Orcopampa, Copper	0	0	0	0
Uchucchacua, Gold	0	0	0	0
Uchucchacua, Silver	524	8,379	497	13,778
Uchucchacua, Lead	11	522	-5	866
Uchucchacua, Zinc	0	4,438	272	5,973
Tambomayo, Gold	1,539	1,652	3,584	3,236
Tambomayo, Silver	701	702	1,701	1,246
Tambomayo, Lead	400	322	843	537
Tambomayo, Zinc	3,196	1,260	8,255	2,399
La Zanja, Gold	37	31	81	57
La Zanja, Silver	2	8	4	11
El Brocal, Gold	1,409	1,330	2,953	2,335
El Brocal, Silver	3,991	6,546	9,097	11,627
El Brocal, Lead	430	812	1,610	1,563
El Brocal, Zinc	5,715	3,108	12,542	8,690
El Brocal, Copper	26,231	25,338	52,850	44,164
Non Mining Units	0	0	0	0
Consolidated Commercial deductions in units in operation	44,963	55,703	95,848	98,761

Set forth below is a reconciliation of Selling expenses (by mine and mineral) to consolidated
Selling expenses:

	For the 3 months ended June 30		For the 6 months ended June 30
	2022	2021	2022	2021
Selling expenses by mine and mineral	(in thousands of US$)
Julcani, Gold	0	1	0	1
Julcani, Silver	81	122	236	234
Julcani, Lead	1	2	3	3
Julcani, Copper	1	0	2	1
Orcopampa, Gold	140	78	293	122
Orcopampa, Silver	1	0	2	0
Orcopampa, Copper	0	0	0	0
Uchucchacua, Gold	0	0	0	0
Uchucchacua, Silver	1,033	890	1,359	1,468
Uchucchacua, Lead	14	84	0	122
Uchucchacua, Zinc	0	183	0	227
Tambomayo, Gold	645	694	1,301	1,310
Tambomayo, Silver	227	234	463	407
Tambomayo, Lead	162	123	319	197
Tambomayo, Zinc	381	211	732	314
La Zanja, Gold	20	21	53	41
La Zanja, Silver	2	2	3	4
El Brocal, Gold	79	83	159	134
El Brocal, Silver	242	594	556	1,075
El Brocal, Lead	36	99	116	173
El Brocal, Zinc	255	351	688	773
El Brocal, Copper	1,479	1,624	2,868	2,605
Non Mining Units	243	300	481	544
Consolidated Selling expenses	5,044	5,697	9,636	9,755

	JULCANI
	2Q 2022						2Q 2021
	GOLD (OZ)	SILVER (OZ)	LEAD (MT)	ZINC (MT)	COPPER (MT)	TOTAL	GOLD (OZ)	SILVER (OZ)	LEAD (MT)	ZINC (MT)	COPPER (MT)	TOTAL
Cost of Sales (without D&A) (US$000)	37	6,782	97	-	89	7,004	36	6,924	97	-	18	7,075
Add:
Exploration Expenses (US$000)	9	1,602	23	-	21	1,655	7	1,405	20	-	4	1,436
Commercial Deductions (US$000)	2	442	6	-	6	456	6	1,165	16	-	2	1,190
Selling Expenses (US$000)	0	81.33	1.16	-	1	84	1	122	2	-	0	125
Cost Applicable to Sales (US$000)	48	8,907	127	-	116	9,199	50	9,616	135	-	24	9,826
Divide:
Volume Sold	40	605,641	93	-	19	Not Applicable	46	547,606	91	-	18	Not Applicable
CAS	1,214	14.71	1,369	-	6,137	Not Applicable	1,083	17.56	1,485	-	1,359	Not Applicable

	JULCANI
	6M 2022						6M 2021
	GOLD (OZ)	SILVER (OZ)	LEAD (MT)	ZINC (MT)	COPPER (MT)	TOTAL	GOLD (OZ)	SILVER (OZ)	LEAD (MT)	ZINC (MT)	COPPER (MT)	TOTAL
Cost of Sales (without D&A) (US$000)	-	14,085	179	-	142	14,406	40	14,442	205	-	31	14,719
Add:
Exploration Expenses (US$000)	-	3,054	39	-	31	3,124	8	2,857	41	-	6	2,912
Commercial Deductions (US$000)	-8	1,145	14	-	10	1,162	7	2,152	30	-	4	2,193
Selling Expenses (US$000)	-	236	3	-	2	241	1	234	3	-	1	238
Cost Applicable to Sales (US$000)	-8	18,520	235	-	185	18,933	55	19,685	279	-	42	20,062
Divide:
Volume Sold	40	1,241,952	168	-	30	Not Applicable	56	1,161,770	204	-	32	Not Aplicable
CAS	-	14.91	1,399	-	6,118	Not Applicable	990	16.94	1,372	-	1,307	Not Applicable

	BROCAL
	2Q 2022						2Q 2021
	GOLD (OZ)	SILVER (OZ)	LEAD (MT)	ZINC (MT)	COPPER (MT)	TOTAL	GOLD (OZ)	SILVER (OZ)	LEAD (MT)	ZINC (MT)	COPPER (MT)	TOTAL
Cost of Sales (without D&A) (US$000)	2,322	7,134	1,058	7,514	43,520	61,547	1,693	12,048	2,010	7,129	32,939	55,819
Add:
Exploration Expenses (US$000)	166	511	76	539	3,119	4,411	114	808	135	478	2,208	3,742
Commercial Deductions (US$000)	1,409	3,991	430	5,715	26,231	37,775	1,330	6,546	812	3,108	25,338	37,135
Selling Expenses (US$000)	79	242	36	255	1,479	2,092	83	594	99	351	1,624	2,752
Cost Applicable to Sales (US$000)	3,976	11,879	1,600	14,022	74,348	105,825	3,220	19,996	3,056	11,067	62,110	99,448
Divide:
Volume Sold	2,590	650,260	1,071	3,370	10,311	Not Applicable	2,805	1,325,553	2,597	7,117	9,948	Not Applicable
CAS	1,535	18.27	1,494	4,161	7,211	Not Applicable	1,148	15.08	1,177	1,555	6,243	Not Applicable

	NON MINING COMPANIES
	2Q 2022						2Q 2021
	GOLD (OZ)	SILVER (OZ)	LEAD (MT)	ZINC (MT)	COPPER (MT)	TOTAL	GOLD (OZ)	SILVER (OZ)	LEAD (MT)	ZINC (MT)	COPPER (MT)	TOTAL
Cost of Sales (without D&A) (US$000)	-	-	-	-	-	6,959	-	-	-	-	-	4,198
Add:
Selling Expenses (US$000)	-	-	-	-	-	243	-	-	-	-	-	300
Total (US$000)	-	-	-	-	-	7,202	-	-	-	-	-	4,498

	BUENAVENTURA CONSOLIDATED
	2Q 2022						2Q 2021
	GOLD (OZ)	SILVER (OZ)	LEAD (MT)	ZINC (MT)	COPPER (MT)	TOTAL	GOLD (OZ)	SILVER (OZ)	LEAD (MT)	ZINC (MT)	COPPER (MT)	TOTAL
Cost of Sales (without D&A) (US$000)	32,946	17,670	3,371	12,720	43,608	117,274	33,355	45,466	6,072	14,931	32,957	136,979
Add:
Exploration Expenses (US$000)	5,559	8,498	473	1,235	3,140	18,904	4,271	5,750	713	1,570	2,212	14,515
Commercial Deductions (US$000)	3,297	5,672	848	8,911	26,236	44,963	3,084	16,800	1,672	8,806	25,341	55,703
Selling Expenses (US$000)	885	1,587	213	636	1,480	4,801	878	1,843	307	745	1,624	5,697
Cost Applicable to Sales (US$000)	42,686	33,427	4,904	23,501	74,465	178,983	41,588	69,859	8,763	26,052	62,134	212,894
Divide:
Volume Sold	37,718	1,813,586	3,811	6,632	10,330	Not Applicable	33,575	3,505,471	6,713	12,476	9,966	Not Applicable
CAS	1,132	18.43	1,287	3,544	7,209	Not Applicable	1,239	19.93	1,305	2,088	6,234	Not Applicable

All-in Sustaining Cost for 2Q22

	Buenaventura¹		La Zanja		Tantahuatay		Attributable ²
	2Q22		2Q22		2Q22		2Q22
Au Ounces Sold Net		30,676		4,452		20,551		43,368

	2Q22		2Q22		2Q22		2Q22
Income Statement & Cash Flow	US$ 000'	US$/Oz Au	US$ 000'	US$/Oz Au	US$ 000'	US$/Oz Au	US$ 000'	US$/Oz Au

Cost of Sales	43,543	1,419	14,424	3,240	25,538	695	68,206	1,573
Exploration in Operating Units	13,730	448	764	172	1,926	50	15,266	352
Royalties	2,732	89	0	0	0	0	2,732	63
Comercial Deductions³	7,149	233	39	9	80	3	7,220	166
Selling Expenses	2,818	92	22	5	244	5	2,938	68
Administrative Expenses	10,173	332	635	143	859	46	11,152	257
Other, net	2,526	82	-72	-16	1,029	8	2,867	66
Sustaining Capex⁴	1,439	47	266	60	4,872	153	3,658	84

By-product Credit	-45,064	-1,469	-647	-145	-1,943	-47	-46,490	-1,072

All-in Sustaining Cost	39,046	1,273	15,431	3,466	32,604	1,586	67,550	1,558

*All-in Sustaining Cost does not include: Depreciation and Amortization, Stoppage of mining units, Exploration in non-operating areas.

All-in Sustaining Cost for 2Q21

	Buenaventura¹		La Zanja		Tantahuatay		Attributable ²
	2Q21		2Q21		2Q21		2Q21
Au Ounces Sold Net		26,315		4,455		29,815		42,724

	2Q21		2Q21		2Q21		2Q21
Income Statement & Cash Flow	US$ 000'	US$/Oz Au	US$ 000'	US$/Oz Au	US$ 000'	US$/Oz Au	US$ 000'	US$/Oz Au

Cost of Sales	74,927	2,847	11,474	2,576	25,764	695	96,731	2,264
Exploration in Operating Units	10,637	404	136	31	1,264	50	11,280	264
Royalties	1,528	58	0	0	0	0	1,528	36
Comercial Deductions³	18,529	704	39	9	359	3	18,712	438
Selling Expenses	2,792	106	23	5	286	5	2,930	69
Administrative Expenses	9,568	364	703	158	949	46	10,652	249
Other, net	125	5	-396	-89	104	8	-229	-5
Sustaining Capex⁴	2,737	104	357	80	3,581	153	4,530	106

By-product Credit	-82,166	-3,122	-692	-155	-4,757	-47	-84,766	-1,984

All-in Sustaining Cost	38,677	1,470	11,644	2,614	27,550	924	61,367	1,436

*All-in Sustaining Cost does not include: Depreciation and Amortization, Stoppage of mining units, Exploration in non-operating areas.

All-in Sustaining Cost for 1S22

	Buenaventura¹		La Zanja		Tantahuatay		Attributable ²
	1S22		1S22		1S22		1S22
Au Ounces Sold Net		62,164		10,225		41,137		88,883

	1S22		1S22		1S22		1S22
Income Statement & Cash Flow	US$ 000'	US$/Oz Au	US$ 000'	US$/Oz Au	US$ 000'	US$/Oz Au	US$ 000'	US$/Oz Au

Cost of Sales	84,904	1,366	25,906	2,534	50,581	1,230	131,090	1,475
Exploration in Operating Units	23,063	371	1,483	145	4,050	98	26,170	294
Royalties	5,666	91	0	0	0	0	5,666	64
Comercial Deductions³	16,711	269	85	8	364	9	16,942	191
Selling Expenses	4,975	80	56	5	500	12	5,231	59
Administrative Expenses	22,248	358	1,319	129	1,764	43	24,274	273
Other, net	1,695	27	-180	-18	657	16	1,778	20
Sustaining Capex⁴	2,898	47	300	29	9,274	225	6,917	78

By-product Credit	-86,423	-1,390	-1,165	-114	-4,021	-98	-89,200	-1,004

All-in Sustaining Cost	75,737	1,218	27,804	2,719	63,170	1,536	128,869	1,450

*All-in Sustaining Cost does not include: Depreciation and Amortization, Stoppage of mining units, Exploration in non-operating areas.

All-in Sustaining Cost for 1S21

	Buenaventura¹		La Zanja		Tantahuatay		Attributable ²
	1S21		1S21		1S21		1S21
Au Ounces Sold Net		46,654		8,352		57,909		78,225

	1S21		1S21		1S21		1S21
Income Statement & Cash Flow	US$ 000'	US$/Oz Au	US$ 000'	US$/Oz Au	US$ 000'	US$/Oz Au	US$ 000'	US$/Oz Au

Cost of Sales	142,097	3,046	21,061	2,522	50,522	872	183,415	2,345
Exploration in Operating Units	17,360	372	136	16	1,620	28	18,146	232
Royalties	2,304	49	0	0	0	0	2,304	29
Comercial Deductions³	30,315	650	68	8	606	10	30,626	392
Selling Expenses	4,722	101	45	5	544	9	4,985	64
Administrative Expenses	20,009	429	1,458	175	1,955	34	22,251	284
Other, net	1,752	38	-366	-44	344	6	1,524	19
Sustaining Capex⁴	5,213	112	396	47	9,845	170	9,556	122

By-product Credit	-146,206	-3,134	-1,481	-177	-10,579	-183	-151,926	-1,942

All-in Sustaining Cost	77,566	1,663	21,317	2,552	54,857	947	120,878	1,545

*All-in Sustaining Cost does not include: Depreciation and Amortization, Stoppage of mining units, Exploration in non-operating areas.

Compañía de Minas Buenaventura S.A.A. and Subsidiaries
Interim condensed consolidated statements of financial position
As of June 30, 2022 (unaudited) and December 31, 2021 (audited)

	2022		2021
Assets	US$(000)		US$(000)
Current assets
Cash and cash equivalents		326,316		376,999
Trade and other receivables		147,970		240,432
Inventories		90,782		86,264
Current income tax asset		12,418		15,456
Prepaid expenses		14,297		20,394
Hedge derivative financial instruments		25,468		-
		617,251		739,545

Non-current assets
Trade and other receivables		659,439		635,832
Inventories		13,827		12,802
Investments in associates and joint venture		1,492,130		1,422,295
Property, plant, equipment, development costs, net		1,498,459		1,537,870
Deferred income tax asset		119,249		164,351
Prepaid expenses		23,477		23,920
Other assets		24,467		25,196
		3,831,048		3,822,266
Total assets		4,448,299		4,561,811


Liabilities and equity
Current liabilities
Bank loans		-		50,000
Trade and other payables		203,633		259,641
Provisions		79,386		81,039
Current income tax payable		2,031		3,026
Financial obligations		32,376		179,417
Hedge derivative financial instruments		-		6,976
		317,426		580,099
Liabilities directly associated with assets classified as held for sale		-		264,838
		317,426		844,937
Non-current liabilities
Trade and other payables		2,783		3,037
Provisions		232,983		232,288
Financial obligations		710,365		878,558
Contingent consideration liability		18,201		17,718
Deferred income tax liabilities		30,591		46,742
		994,923		1,178,343

Total liabilities		1,312,349		2,023,280

Equity
Capital stock		750,497		750,497
Investment shares		791		791
Additional paid-in capital		218,450		218,450
Legal reserve		163,270		163,270
Other reserves		269		269
Other reserves of equity		9,389		(4,477	)
Retained earnings		1,835,306		1,239,526
Shareholders’ equity, net attributable to owners of the parent		2,977,972		2,368,326
Non-controlling interest		157,978		170,205
Total equity		3,135,950		2,538,531
Total liabilities and equity		4,448,299		4,561,811

Compañía de Minas Buenaventura S.A.A. and Subsidiaries
Interim consolidated statements of profit or loss (unaudited)
For the three-month and six-month period ended June 30, 2022 and 2021


	For the three-month period ended June 30,						For the six-month period ended June 30,
	2021			2020			2022			2021
Continuing operations	US$(000)			US$(000)			US$(000)			US$(000)
Operating income
Sales of goods		146,592			232,637			374,447			411,154
Sales of services		3,513			3,312			7,196			6,724
Royalty income		-			4,907			1,381			8,866
Total operating income		150,105			240,856			383,024			426,744

Cost of sales
Cost of sales of goods, excluding depreciation and amortization		(116,441	)		(136,748	)		(223,859	)		(250,856	)
Unabsorbed cost due to production stoppage		(4,890	)		-			(10,969	)		-
Cost of sales of services, excluding depreciation and amortization		(833	)		(230	)		(1,383	)		(393	)
Depreciation and amortization		(44,333	)		(48,332	)		(90,054	)		(94,820	)
Exploration in operating units		(18,904	)		(14,515	)		(32,921	)		(23,843	)
Mining royalties		(4,450	)		(2,725	)		(8,859	)		(4,437	)
Total costs of sales		(189,851	)		(202,550	)		(368,045	)		(374,349	)
Gross profit (loss)		(39,746	)		38,306			14,979			52,395

Operating income (expenses)
Administrative expenses		(16,583	)		(16,108	)		(35,077	)		(33,080	)
Selling expenses		(5,044	)		(5,697	)		(9,636	)		(9,755	)
Exploration in non-operating areas		(4,786	)		(1,960	)		(6,830	)		(3,698	)
Reversal (provision) of contingents		(2,591	)		735			(1,845	)		429
Write –off of stripping activity asset		-			(6,763	)		-			(6,763	)
Other, net		(1,624	)		1,972			45,267			1,462
Total operating income (expenses)		(30,628	)		(27,821	)		(8,121	)		(51,405	)

Operating profit (loss)		(70,374	)		10,485			6,858			990

Share in the results of associates and joint venture		22,287			50,039			97,707			108,263
Exchange difference		(22,935	)		(7,506	)		24,875			(8,947	)
Financial income		651			548			10,224			696
Financial costs		(12,880	)		(10,984	)		(29,451	)		(21,893	)

Profit (loss) before income tax		(83,251	)		42,582			110,213			79,109

Current income tax		6,038			(8,096	)		(16,292	)		(14,823	)
Deferred income tax		26,658			(1,614	)		21,822			(10,960	)
		32,696			(9,710	)		5,530			(25,783	)
Profit (loss) from continuing operations		(50,555	)		32,872			115,743			53,326

Gain (loss) from discontinued operations, net of taxes		(190	)		5,097			479,807			2,760
Net profit (loss)		(50,745	)		37,969			595,550			56,086

Attributable to:
Owners of the parent		(39,898	)		37,542			596,254			53,912
Non-controlling interest		(10,847	)		427			(704	)		2,174
		(50,745	)		37,969			595,550			56,086

Basic and diluted profit (loss) per share stated in U.S. dollars		(0.16	)		0.15			2.35			0.21