Buenaventura Obtains Key Operating Permit for Yumpag Mine
LIMA, Peru, March 18, 2024--(BUSINESS WIRE)--CompaƱia de Minas Buenaventura S.A.A. ("Buenaventura" or "the Company") (NYSE: BVN; Lima Stock Exchange: BUE.LM), Peruās largest publicly-traded precious metals mining company, is pleased to announce it has received its final operating permit from the Peruvian Ministry of Energy and Mines to begin production at its Yumpag mine ("Yumpag").
Leandro Garcia, Buenaventuraās CEO, commented, "Receipt of this final permit for our flagship Yumpag mine represents a significant milestone for Buenaventura and also reflects our proficiency in handling mining projects as well as regulatory processes efficiently and effectively. Securing the necessary project stages and approvals in a timely manner demonstrates our readiness to capitalize on opportunities and execute strategic objectives with precision." He continued, "Weāre very enthusiastic about Yumpagās future prospects to produce high-grade silver resources, with promising exploration campaigns. Weāve therefore achieved a key pillar to support Buenaventuraās overall growth strategy which, coupled with our focus on operational excellence and commitment to responsible resource management, position us to unlock significant value for our stakeholders."
The final operating permit approval for Buenaventuraās flagship Yumpag mine signifies the culmination of rigorous planning and preparation. This milestone marks the start of 1,000 ton per day uninterrupted mining at Yumpag, enabling Buenaventura to achieve its 2024 production guidance of 6.5 - 7.2 million silver ounces.
Company Description
CompaƱĆa de Minas Buenaventura S.A.A. is Peruās 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 Companyās 2022 Form 20-F, please contact the persons indicated above, or download a PDF format file from the Companyās 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 Verdeās 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, subsidiariesā plans for capital expenditures, estimates of reserves and Peruvian political, economic, social and legal developments. These forward-looking statements reflect the Companyās view with respect to Cerro Verdeās 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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Contacts
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