Buenaventura Announces Second Quarter 2021 Production and Volume Sold Per Metal Results
Compañia de Minas Buenaventura S.A.A. (NYSE: BVN) reported its 2Q21 production results, indicating strong performance in gold and silver outputs. Key stats include:
- Gold production totaled 9,130 oz from Orcopampa, 17,964 oz from Tambomayo, and 66,563 oz from Yanacocha.
- Silver output reached 1,268,082 oz from Uchucchacua and 1,603,208 oz from El Brocal.
- Updated 2021 guidance includes gold targets of 40k-45k oz for Orcopampa and 315k oz for Yanacocha.
- For silver, the company expects 6.0M-7.0M oz from Uchucchacua.
- Strong gold production increase from 5,986 oz to 9,130 oz at Orcopampa.
- Significant silver production rise, with 1,268,082 oz reported from Uchucchacua.
- Copper production at El Brocal decreased from 7,965 MT to 10,494 MT year-over-year.
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 2Q21 production and volume sold.
| 2Q21 Production per Metal and 2021 Guidance ( |
||||||||
| 1Q21 (Actual) |
2Q21 (Actual) |
6M21 (Actual) |
Updated 2021 Guidance (1) (2) |
|||||
| Gold (Oz.) | ||||||||
| Orcopampa | 5,986 |
9,130 |
15,116 |
|
40k - 45k |
|||
| Tambomayo | 15,347 |
17,964 |
33,311 |
|
69k - 75k |
|||
| La Zanja | 3,908 |
4,447 |
8,355 |
|
12k - 15k |
|||
| Coimolache | 26,133 |
30,378 |
56,510 |
|
99k - 106k |
|||
| Yanacocha | 62,125 |
66,563 |
128,688 |
|
315k (3) |
|||
| El Brocal | 3,067 |
4,317 |
7,384 |
|
20k - 25k |
|||
| Silver (Oz.) | ||||||||
| Uchucchacua | 1,243,916 |
1,268,082 |
2,511,997 |
|
6.0M - 7.0M |
|||
| El Brocal | 1,574,305 |
1,603,208 |
3,177,513 |
|
5.4M - 6.0M |
|||
| Tambomayo | 284,677 |
432,638 |
717,315 |
|
1.2M - 1.4M |
|||
| Julcani | 648,854 |
570,248 |
1,219,102 |
|
2.1M - 2.4M |
|||
| Lead (MT) | ||||||||
| El Brocal | 2,140 |
2,812 |
4,952 |
|
10.0k - 12.0k |
|||
| Uchucchacua | 1,292 |
1,715 |
3,006 |
|
5.0k - 7.0k |
|||
| Tambomayo | 1,504 |
2,767 |
4,271 |
|
5.9k - 6.5k |
|||
| Zinc (MT) | ||||||||
| El Brocal | 10,207 |
8,612 |
18,819 |
|
40.0k - 45.0k |
|||
| Uchucchacua | 1,246 |
3,029 |
4,275 |
|
7.0k - 10.0k |
|||
| Tambomayo | 1,821 |
3,671 |
5,491 |
|
6.9k - 7.5k |
|||
|
|
|
|
|
||||
| Copper (MT) |
|
|
|
|
|
|||
| El Brocal | 7,965 |
10,494 |
18,460 |
|
37.0k - 42.0k |
|||
| 1. Above 2021 projections are considered forward-looking statements and represent management’s good faith estimates or expectations of future production results as of July 2021. | ||
2. Updated guidance could potentially be adversely impacted due to further effects related to COVID-19. |
||
3. As announced by Newmont on February 18, 2021. |
|
|
| Additional Comments |
-
Tambomayo:
2Q21 gold production was aligned with expected mine ramp-up for 2021 and was favorably impacted by more stable operations at Tambomayo’s processing plant. 2021 gold production guidance remains unchanged.
2Q21 silver production was in line with expectations. 2021 silver production guidance remains unchanged.
-
Orcopampa:
2Q21 gold production progressed slightly below the planned ramp-up due to less ore treated during the quarter resulting from Covid-19 related personnel restrictions. Additional staff and resources have been re-allocated to expedite Orcopampa mine development and production for the balance of the year. 2021 guidance remains unchanged.
-
Coimolache:
2Q21 gold production was in line with expectations. 2021 guidance remains unchanged.
-
La Zanja:
2Q21 gold production was in line with expectations. 2021 guidance remains unchanged.
-
Julcani:
2Q21 silver production was in line with expectations. 2021 guidance remains unchanged.
-
Uchucchacua:
2Q21 silver, lead and zinc production was below expectations due to lower production from high grade Ag areas resulting from Covid-19 restriction-related delays in mine development, a slower than anticipated transition to narrow vein mining and a negative reconciliation. This was partially offset by increased production from polymetallic stopes and 4 Oz Ag/t tailings reprocessed during the quarter. Therefore, guidance has been updated to 6.0 – 7.0 M Oz Ag for 2021 with more conservative development and mining rate projections due to Covid-19 related restrictions. The mining plan is still under review.
-
El Brocal:
Marcapunta’s 2Q21 copper production was in line with expectations. 2021 copper production guidance remains unchanged.
Tajo Norte’s zinc production was below expectations due to stripping delays with a negative reconciliation. 2021 zinc production guidance was updated to 40.0-45.0k mt.
2Q21 Payable Volume Sold |
| 2Q21 Volume sold per Metal ( |
|||||
1Q21 (Actual) |
2Q21 (Actual) |
6M21 (Actual) |
|||
| Gold (Oz.) | |||||
| Orcopampa | 5,698 |
9,618 |
15,316 |
||
| Tambomayo | 14,631 |
16,652 |
31,283 |
||
| La Zanja | 3,897 |
4,455 |
8,352 |
||
| Coimolache | 28,094 |
29,815 |
57,909 |
||
| El Brocal | 1,951 |
2,805 |
4,756 |
||
|
|
|
|||
| Silver (Oz.) |
|
|
|
||
| Uchucchacua | 1,029,816 |
1,226,055 |
2,255,872 |
||
| El Brocal | 1,244,168 |
1,325,553 |
2,569,720 |
||
| Tambomayo | 257,290 |
380,029 |
637,319 |
||
|
|
|
|||
| Lead (MT) |
|
|
|
||
| El Brocal | 2,239 |
2,597 |
4,836 |
||
| Uchucchacua | 1,014 |
1,450 |
2,463 |
||
| Tambomayo | 1,440 |
2,575 |
4,015 |
||
| Julcani | 113 |
91 |
204 |
||
|
|
|
|||
| Zinc (MT) |
|
|
|
||
| El Brocal | 8,491 |
7,117 |
15,608 |
||
| Uchucchacua | 914 |
2,309 |
3,223 |
||
| Tambomayo | 1,401 |
3,049 |
4,451 |
||
|
|
|
|||
| Copper (MT) |
|
|
|
||
| El Brocal | 7,536 |
9,948 |
17,485 |
||
| Realized Metal Prices* | |||||
1Q21 (Actual) |
2Q21 (Actual) |
6M21 (Actual) |
|||
| Gold (Oz) | 1,726 |
1,815 |
1,776 |
||
| Silver (Oz) | 26.98 |
27.06 |
27.02 |
||
| Lead (MT) | 2,129 |
2,192 |
2,166 |
||
| Zinc (MT) | 3,220 |
3,010 |
3,108 |
||
| Copper (MT) | 8,994 |
10,033 |
9,585 |
||
| *Buenaventura consolidated figures. | |||||
| Appendix |
|
1. 2Q21 Production per Metal |
|
|||
|
|
|
|
|
|
|
|
1Q21
|
2Q21
|
6M21
|
|
|
|
|
|
|
|
|
Gold (Oz.) |
|
|
|
|
|
Julcani |
13 |
48 |
61 |
|
|
|
|
|
|
|
|
Silver (Oz.) |
|
|
|
|
|
Orcopampa |
1,043 |
1,781 |
2,823 |
|
|
La Zanja |
27,042 |
20,519 |
47,561 |
|
|
Coimolache |
200,993 |
166,327 |
367,320 |
|
|
Yanacocha |
187,057 |
33,338 |
220,395 |
|
|
|
|
|
|
|
|
Lead (MT) |
|
|
|
|
|
Julcani |
146 |
123 |
269 |
|
|
|
|
|
|
|
|
2. 2Q21 Volume Sold per Metal |
|
|||
|
|
||||
|
|
1Q21
|
2Q21
|
6M21
|
|
|
|
|
|
|
|
|
Gold (Oz.) |
|
|
|
|
|
Julcani |
10 |
46 |
56 |
|
|
|
|
|
|
|
|
Silver (Oz.) |
|
|
|
|
|
Orcopampa |
1,878 |
1,518 |
3,396 |
|
|
La Zanja |
28,964 |
24,710 |
53,673 |
|
|
Coimolache |
215,648 |
178,729 |
394,377 |
|
|
|
|
|
|
|
|
Lead (MT) |
|
|
|
|
|
Julcani |
113 |
91 |
204 |
|
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
For a printed version of the Company’s 2018 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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210727006167/en/
FAQ
What were Buenaventura's 2Q21 gold production figures for Yanacocha?
How much silver did Buenaventura produce in 2Q21?
What are Buenaventura's updated 2021 gold production guidance figures?
What was the change in copper production at El Brocal?
