Buenaventura Announces Second Quarter 2020 Production Results

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 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.

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