Buenaventura Mining Co Inc 6-K, filed Apr 21, 2022
Buenaventura Mining Co Inc (BVN)
About this 6-K
Buenaventura Mining Co Inc filed this 6-K on April 21, 2022.
PURSUANT TO RULE 13a-16 OR 15b-16 OF
THE SECURITIES EXCHANGE ACT OF 1934
(Translation of registrant’s name into English)
(Jurisdiction of incorporation or organization)
SANTA CATALINA, LIMA 13, PERU
(Address of principal executive offices)
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): [ ]
Buenaventura Announces First Quarter 2022 Production and Volume Sold per Metal Results
LIMA, Peru--(BUSINESS WIRE)--April 21, 2022--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 1Q22 results for production and volume sold.
|
1Q22 Production per Metal |
|||
|
1Q22 |
2022 |
||
| Gold (Oz.) | |||
| Orcopampa |
19,031 |
57k - 65k |
|
| Tambomayo |
13,867 |
45k - 50k |
|
| La Zanja |
5,900 |
37k - 45k |
|
| Coimolache |
19,512 |
75k - 80k |
|
| El Brocal |
4,350 |
10k - 13k |
|
| Silver (Oz.) | |||
| Uchucchacua |
0 |
0 |
|
| El Brocal |
1,059,666 |
4.2M - 4.8M |
|
| Tambomayo |
419,396 |
1.8M - 2.4M |
|
| Julcani |
661,132 |
2.2M - 2.5M |
|
| Lead (MT) | |||
| El Brocal |
2,497 |
7.0k - 10.0k |
|
| Uchucchacua |
0 |
0 |
|
| Tambomayo |
2,509 |
4.0k - 6.0k |
|
| Zinc (MT) | |||
| El Brocal |
8,772 |
18.0k - 22.0k |
|
| Uchucchacua |
0 |
0 |
|
| Tambomayo |
3,543 |
5.0k - 7.0k |
|
| Copper (MT) | |||
| El Brocal |
10,159 |
40.0k - 45.0k |
|
| 1. |
2022 outlook projections shown above are considered forward-looking statements and represent management’s good faith estimates or expectations of future production results as of April 2022. |
|
|
2. |
Please consider that this guidance could potentially be adversely impacted due to further effects related to COVID-19. |
| 1Q22 Comments |
Tambomayo:
- 1Q22 gold production exceeded first quarter 2022 projections due to a.) gold grade which was higher than anticipated and b.) production from a high-grade pillar which was carried forward from the fourth quarter 2021 to the first quarter 2022.
- 1Q22 silver production was below projections, partially offset by higher zinc and lead production for the quarter.
Orcopampa:
- 1Q22 gold production was above projections for the quarter due to higher than anticipated tonnage and grade
Coimolache:
- 1Q22 gold production was above projections for the quarter primarily due to favorable geological reconciliation of both increased tonnage and grade
La Zanja:
- 1Q22 gold production was below projections for the quarter due to lower than expected haulage fleet performance due to Peru’s rainy season.
Julcani:
- 1Q22 silver production was above projections for the quarter due to higher than anticipated grade.
Uchucchacua:
- Exploration tunneling and diamond drilling continues according to plan with an emphasis on the Nora-Geraldine orebody.
- Yumpag mine development began ramp-up during 1Q22 with a new contractor, also with exploration progressing as planned for the Camila and Tomasa orebodies.
El Brocal:
- Copper, lead and zinc production was in line with expectations for 1Q22.
- Silver production was below projections for the quarter due to lower than expected open pit grades.
- A landslide within the mine’s open pit occurred on March 19, 2022 resulting in the death of 3 workers. The exact cause of the landslide is under further investigation.
1Q22 Payable Volume Sold
|
1Q22 Volume Sold per |
|
|
1Q22 |
|
| Gold (Oz.) | |
| Orcopampa |
19,307 |
| Tambomayo |
12,181 |
| La Zanja |
5,773 |
| Coimolache |
20,586 |
| El Brocal |
2,907 |
| Silver (Oz.) | |
| Uchucchacua |
18,730 |
| El Brocal |
852,933 |
| Tambomayo |
351,077 |
| Julcani |
636,303 |
| Lead (MT) |
|
| El Brocal |
2,239 |
| Uchucchacua |
0 |
| Tambomayo |
2,275 |
| Zinc (MT) | |
| El Brocal |
7,256 |
| Uchucchacua |
0 |
| Tambomayo |
2,922 |
| Copper (MT) | |
| El Brocal |
9,697 |
| Realized Metal Prices* | |
|
1Q22 |
|
| Gold (Oz) |
1,896 |
| Silver (Oz) |
24.10 |
| Lead (MT) |
2,363 |
| Zinc (MT) |
4,105 |
| Copper (MT) |
9,950 |
| *Buenaventura consolidated figures. | |
Appendix
|
1. 1Q22 Production |
|
|
|
|
|
|
1Q22 |
|
Silver (Oz.) |
|
|
Orcopampa |
7,856 |
|
La Zanja |
23,363 |
|
Coimolache |
77,195 |
|
Lead (MT) |
|
|
Julcani |
99 |
|
2. 1Q22 Volume Sold per Metal |
|
|
|
1Q22 |
|
|
|
|
Silver (Oz.) |
|
|
Orcopampa |
6,928 |
|
La Zanja |
21,818 |
|
Coimolache |
96,634 |
|
Lead (MT) |
|
|
Julcani |
76 |
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).
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 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.
Company Website: www.buenaventura.com.pe/ir
Contacts
Contacts in Lima:
Daniel Dominguez, Chief Financial Officer
(511) 419 2540
Gabriel Salas, Head of Investor Relations
(511) 419 2591 / Gabriel.salas@buenaventura.pe
Contacts in NY:
Barbara Cano
(646) 452 2334
barbara@inspirgroup.com