Buenaventura Announces the Granting of Environmental Permit for Yumpag Project

Rhea-AI Summary

Compañia de Minas Buenaventura S.A.A. has received approval of its Environmental Impact Assessment for its Yumpag project, bringing the company closer to the production phase. Buenaventura looks forward to announcing its reserve and resource findings at the Company’s Investor Day in early December.

Positive

• Approval of Environmental Impact Assessment for Yumpag project
• Closer to production phase

Negative

• None.

LIMA, Peru--(BUSINESS WIRE)-- 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, is pleased to announce that the Company has received approval of its Environmental Impact Assessment (EIA) for its Yumpag project by the Peruvian Environmental Certification authority (SENACE).

The approval of the EIA is a key milestone towards enabling the Company to develop Yumpag and brings Buenaventura closer to the production phase. The Company will submit a request to the Peruvian Ministry of Energy and Mines to obtain the necessary authorizations to start the exploitation of the deposit.

Leandro Garcia, Buenaventura’s CEO commented, “The environmental approval of the Yumpag project is a significant step in the process of taking the project into production. We appreciate the work done by all who were involved in their review process, as it validates and recognizes Buenaventura’s high operational standards in Peru, including the Company's commitment to local communities.” He continued, “Yumpag has achieved remarkable exploration results to date, and Buenaventura looks forward to announcing its reserve and resource findings at the Company’s Investor Day in early December.”

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 2022 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230907341449/en/

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

Company Website: www.buenaventura.com.pe/ir

Source: Compañia de Minas Buenaventura S.A.A.