Buenaventura Comments on Acquisition of Equity Interest in Buenaventura by Antofagasta plc

Rhea-AI Summary

Compañia de Minas Buenaventura S.A.A. (BVN) has announced that Antofagasta plc has acquired approximately 19% of Buenaventura's outstanding shares. The Chairman of the Board looks forward to collaborating with Antofagasta to grow the value of the business. Buenaventura is Peru’s largest publicly-traded precious metals mining company, engaged in the exploration, mining development, processing, and trade of gold, silver, and other base metals.

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, announces that is has become aware that Antofagasta plc ("Antofagasta") has entered into transactions pursuant to which Antofagasta, acting through a wholly owned subsidiary, has acquired beneficial ownership of approximately 19% of Buenaventura’s outstanding shares.

Roque Benavides, Chairman of the Board of Buenaventura, stated: “Buenaventura looks forward to working with Antofagasta as a collaborative partner to grow the value of our business, including by leveraging their deep expertise and proven track record in responsibly developing and operating world-class copper assets.”

Buenaventura 
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/20231215632443/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.

FAQ

What is the ticker symbol for Compañia de Minas Buenaventura S.A.A.?

The ticker symbol for Compañia de Minas Buenaventura S.A.A. is BVN on the NYSE and BUE.LM on the Lima Stock Exchange.

What is the primary business of Compañia de Minas Buenaventura S.A.A.?

Compañia de Minas Buenaventura S.A.A. is engaged in the exploration, mining development, processing, and trade of gold, silver, and other base metals.

Who has acquired approximately 19% of Buenaventura's outstanding shares?

Antofagasta plc, acting through a wholly owned subsidiary, has acquired beneficial ownership of approximately 19% of Buenaventura’s outstanding shares.

What are the operations wholly owned by Buenaventura?

Buenaventura currently operates several mines in Peru, including Orcopampa, Uchucchacua, Julcani, Tambomayo, La Zanja, El Brocal, and Coimolache.

What is the ownership percentage of Buenaventura in Sociedad Minera Cerro Verde?

Buenaventura owns 19.58% of Sociedad Minera Cerro Verde, a Peruvian copper producer in partnership with Freeport-McMorRan Inc. and Sumitomo Corporation.