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 2018
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 |
(Address of principal executive offices) |
Indicate by check mark whether the registrant files or will file annual reports under cover of 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.
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: October 9, 2018
Buenaventura Announces Third Quarter 2018 Production and Volume Sold per Metal Results
LIMA, Peru--(BUSINESS WIRE)--October 9, 2018--Compañía 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 preliminary 3Q18 production and volume sold results as well as full year 2018 operating guidance (100% basis).
3Q18 Production per Metal and 2018 Operating Guidance (100% basis) | ||||||||||||||||
1Q18 | 2Q18 | 3Q18 | 9M18 | 2018 | ||||||||||||
Gold (Oz.) | ||||||||||||||||
Orcopampa | 39,987 | 35,694 | 26,835 | 102,516 | 120k - 140k | |||||||||||
Tambomayo | 33,693 | 31,173 | 33,279 | 98,145 | 125k - 135k | |||||||||||
La Zanja | 17,722 | 15,660 | 18,147 | 51,529 | 70k - 80k | |||||||||||
Tantahuatay | 29,915 | 39,557 | 54,011 | 123,484 | 160k - 180k | |||||||||||
Yanacocha | 104,233 | 115,342 | 153,523 | 373,098 | 470k - 545k | |||||||||||
El Brocal | 7,029 | 5,924 | 4,364 | 17,317 | 20k - 25k | |||||||||||
Silver (Oz.) | ||||||||||||||||
Uchucchacua | 4,413,249 | 4,005,948 | 3,744,036 | 12,163,232 | 15.0M - 17.0M | |||||||||||
Julcani | 504,155 | 620,276 | 692,728 | 1,817,159 | 2.3M - 2.5M | |||||||||||
Mallay | 155,000 | 134,936 | 126,476 | 416,411 | 0.4M - 0.5M | |||||||||||
Tambomayo | 1,019,915 | 1,106,694 | 929,949 | 3,056,558 | 3.5M - 4.5M | |||||||||||
El Brocal | 739,454 | 967,763 | 1,260,010 | 2,967,226 | 4.6M - 5.0M | |||||||||||
Lead (MT) | ||||||||||||||||
Julcani | 283 | 231 | 270 | 784 | 1.0k - 2.0k | |||||||||||
Uchucchacua | 4,184 | 4,762 | 5,214 | 14,161 | 18.0k - 20.0k | |||||||||||
Mallay | 504 | 447 | 416 | 1,367 | 0.5k - 2.5k | |||||||||||
Tambomayo | 856 | 814 | 1,027 | 2,697 | 3.0k - 4.5k | |||||||||||
El Brocal | 3,737 | 4,700 | 6,784 | 15,222 | 20.0k - 30.0k | |||||||||||
Zinc (MT) | ||||||||||||||||
El Brocal | 13,797 | 12,353 | 9,741 | 35,892 | 45k - 55k | |||||||||||
Uchucchacua | 4,575 | 4,842 | 6,556 | 15,974 | 20.0k - 22.0k | |||||||||||
Mallay | 952 | 1,187 | 905 | 3,044 | 3.0k - 3.6k | |||||||||||
Tambomayo | 2,562 | 1,998 | 2,046 | 6,606 | 7.5k - 8.5k | |||||||||||
Copper (MT) | ||||||||||||||||
El Brocal | 10,482 | 11,173 | 12,483 | 34,139 | 45K - 55K | |||||||||||
Production Comments
Gold Operations
- Orcopampa:
Production is in line with guidance released in 2Q18. The plan is based on the Company’s strategy to prioritize its De-bottlenecking Program over ore mineral extraction, in order to centralize the underground operation.
- Tambomayo:
2018 gold, silver and zinc production guidance has been increased due to the fact that Tambomayo is now operating at full capacity and it is processing more ore at a level that is exceeding initial estimates.
- La Zanja:
2018 guidance remains unchanged despite a change in mining contractor during 2Q18.
- Tantahuatay:
2018 guidance remains unchanged.
Silver Operations
- Uchucchacua:
Guidance for silver production has been reduced while zinc production guidance has been increased. The plan is to extract more mineral from the Cachipampa area which has higher zinc and lower silver grades than the rest of the mine but is lower cost due to its proximity to underground facilities.
- Julcani:
2018 guidance has been increased. The Company’s strategy to centralize this operation is achieving results that are exceeding initial estimates.
- Mallay:
2018 guidance has been maintained. Centralizing and halting the deepening of the mine has achieved positive results.
Base Metals Operations
- El Brocal:
Copper guidance has been maintained for the underground mine.
Lead guidance has been reduced due to the mining sequence in the open pit. Lead grades are expected to increase in 1Q19.
Volume Sold
3Q18 Volume sold per Metal (100% basis) | |||||||||||||
1Q18 | 2Q18 | 3Q18 | 9M18 | ||||||||||
Gold (Oz.) | |||||||||||||
Orcopampa | 40,015 | 35,155 | 28,144 | 103,314 | |||||||||
Tambomayo | 30,698 | 30,721 | 32,101 | 93,520 | |||||||||
La Zanja | 18,222 | 17,495 | 18,419 | 54,136 | |||||||||
Tantahuatay | 27,957 | 38,599 | 53,859 | 120,415 | |||||||||
El Brocal | 5,102 | 4,029 | 2,685 | 11,815 | |||||||||
Silver (Oz.) | |||||||||||||
Uchucchacua | 3,853,518 | 4,125,034 | 3,515,670 | 11,494,222 | |||||||||
Julcani | 352,236 | 741,469 | 639,454 | 1,733,159 | |||||||||
Mallay | 136,838 | 123,609 | 101,118 | 361,565 | |||||||||
Tambomayo | 837,123 | 1,143,540 | 926,741 | 2,907,404 | |||||||||
El Brocal | 536,585 | 774,576 | 974,775 | 2,285,936 | |||||||||
Lead (MT) | |||||||||||||
Julcani | 169 | 275 | 235 | 678 | |||||||||
Uchucchacua | 3,434 | 4,387 | 4,697 | 12,518 | |||||||||
Mallay | 440 | 434 | 371 | 1,245 | |||||||||
Tambomayo | 528 | 1,025 | 1,006 | 2,560 | |||||||||
El Brocal | 3,339 | 4,490 | 5,636 | 13,465 | |||||||||
Zinc (MT) | |||||||||||||
El Brocal | 11,354 | 10,383 | 7,712 | 29,450 | |||||||||
Uchucchacua | 3,802 | 3,783 | 4,898 | 12,483 | |||||||||
Mallay | 733 | 986 | 720 | 2,438 | |||||||||
Tambomayo | 1,672 | 1,871 | 1,830 | 5,374 | |||||||||
Copper (MT) | |||||||||||||
El Brocal | 9,854 | 10,517 | 11,816 | 32,187 | |||||||||
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*, Mallay*, 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), an important precious metal producer and 19.58% of Sociedad Minera Cerro Verde, an important Peruvian copper producer.
For a printed version of the Company’s 2017 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.
CONTACT:
For Compañía de Minas Buenaventura S.A.A.
In Lima:
Leandro Garcia, 511-419-2540
Chief Financial Officer
or
Rodrigo Echecopar, 511-419-2591
Investor Relations Coordinator
rodrigo.echecopar@buenaventura.pe
Company Website: www.buenaventura.com
or
In NY:
Barbara Cano, 646-452-2334
barbara@inspirgroup.com