US Market News
1月前
Buenaventura Announces First Quarter ResultsApril 29, 2026 8:22 PM
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, today announced results for the first quarter (1Q26) ended March 31, 2026. All figures have been prepared in accordance with IFRS (International Financial Reporting Standards) on a non-GAAP basis and are stated in U.S. dollars (US$).
First Quarter 2026 Highlights:
Gold production increased by 8% year-over-year (YoY) primarily driven by the ramp-up of operations at San Gabriel. Consolidated silver production increased by 6% YoY, reflecting higher output at El Brocal, Uchucchacua and Tambomayo. Lead and zinc production increased by 20% and 27% YoY, respectively, primarily due to higher throughput at Uchucchacua. Copper production decreased by 11% YoY, primarily due to lower output at El Brocal. This reflects the mine plan for 1Q26, which prioritized the processing of previously classified as low grade lead-silver ore, resulting in reduced copper ore throughput.
EBITDA from direct operations was US$ 386.3 million, compared to US$ 126.3 million reported in 1Q25.
Net income was US$ 355.2 million, compared to US$ 147.0 million net income in 1Q25.
Capital expenditures (CAPEX) related to San Gabriel totaled US$49.2 million in 1Q26, primarily allocated to the completion of the processing plant. San Gabriel entered the ramp-up phase during the quarter.
Buenaventura's cash position totaled US$ 759.9 million as of March 31, 2026. The Company reported a net cash position, with net debt of negative US$51.9 million, equivalent to a leverage ratio of -0.05x.
On April 24, 2026, subsequent to the quarter’s end, Buenaventura received US $58.7 million in dividends related to its stake in Cerro Verde. Total dividends received year-to-date 2026 amounted to US$156.6 million.
Financial Highlights (in millions of US$, excluding EPS):
1Q26
1Q25
Var
Total Revenues
624.6
307.7
103%
Operating Income
329.3
93.9
251%
EBITDA Direct Operations
386.3
126.3
206%
EBITDA Including Affiliates
579.4
251.1
131%
Net Income (1)
335.4
140.1
139%
EPS (2)
1.32
0.55
139%
(1) Net Income attributable to owners of the parent.
(2) Weighted average number of shares outstanding for the period ending March 31, 2026: 253,986,867.
For a full version of Compañia de Minas Buenaventura First Quarter 2026 Earnings Release, please visit: https://buenaventura.com/informes-y-reportes
CONFERENCE CALL INFORMATION:
Compañia de Minas Buenaventura will host a conference call on Thursday, April 30, 2026, to discuss these results at 12:00 pm Eastern Time / 11:00 a.m. Lima Time.
To participate in the conference call, please dial:
Toll-Free US:
+1 844 481 2914
Toll International:
+1 412 317 0697
Passcode:
Please ask to be joined into the Compañía de Minas Buenaventura’s call.
Live Webcast: Click here
If you would prefer to receive a call rather than dial-in, please use the following link 10-15 minutes prior to the conference call start time:
Call Me Link: Click Here
Passcode: 3612505
Participants who do not wish to be interrupted to have their information gathered may have Chorus Call dial out to them by clicking on the above link, filling in the information, and pressing the green phone button at the bottom. The phone number provided will be automatically called and connected to the conference without any interruption to the participant. (Please note: Participants will be joined directly to the conference and will hear hold music until the call begins. No confirmation message will be played when joined.)
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 2024 Form 20-F, please contact the investor relations contacts on page 1 of this report or download the PDF format file from the Company’s web site at www.buenaventura.com.
(*) Operations wholly owned by Buenaventura
Note on Forward-Looking Statements
This press release and related conference call contain, in addition to historical information, forward-looking statements including statements related to the Company’s ability to manage its business and liquidity during and after the COVID-19 pandemic, the impact of the COVID-19 pandemic on the Company’s results of operations, including net revenues, earnings and cash flows, the Company’s ability to reduce costs and capital spending in response to the COVID-19 pandemic if needed, the Company’s balance sheet, liquidity and inventory position throughout and following the COVID-19 pandemic, the Company’s prospects for financial performance, growth and achievement of its long-term growth algorithm following the COVID-19 pandemic, future dividends and share repurchases.
This press release may also 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, 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, 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.
Company Website: https://buenaventura.com/en/inversionista/
View source version on businesswire.com: https://www.businesswire.com/news/home/20260429006484/en/
Contacts in Lima:
Daniel Dominguez, Chief Financial Officer
(511) 419 2540
Sebastián Valencia, Head of Investor Relations
(511) 419 2591 / sebastian.valencia@buenaventura.pe
Contact in NY:
Barbara Cano
(646) 452 2334
barbara@inspirgroup.com
Original: Buenaventura Announces First Quarter Results
US Market News
2月前
Buenaventura Announces First Quarter 2026 Results for Production and Volume Sold per MetalApril 16, 2026 5:34 PM
Business Wire
Compañía 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 1Q26 results for production and volume sold.
Production per Metal
Three Months Ended March 31, 2026
2026
Guidance (1)
Gold ounces produced
El Brocal
61.43%
4,236
15.0k - 17.0k
Orcopampa
100%
14,992
42.0k - 47.0k
Tambomayo
100%
2,964
5.0k - 6.0k
Julcani
100%
2,464
9.0k - 11.0k
La Zanja
100%
3,694
14.0k - 17.0k
San Gabriel
100%
1,686
48.0k - 55.0k
Total Direct Operations (2)
30,035
133.0k - 153.0k
Coimolache
40.094%
23,480
90.0k - 100.0k
Total incl. Associated (3)
37,815
163.3k - 186.5k
Silver ounces produced
El Brocal
61.43%
607,751
1.5M - 1.7M
Uchucchacua
100%
594,110
2.5M - 2.8M
Yumpag
100%
2,083,483
7.9M - 8.7M
Orcopampa
100%
2,570
-
Tambomayo
100%
294,325
0.2M - 0.3M
Julcani
100%
299,297
1.3M - 1.5M
La Zanja
100%
13,760
-
San Gabriel
100%
840
-
Total Direct Operations (2)
3,896,136
13.4M - 15.0M
Coimolache
40.094%
118,721
0.3M - 0.4M
Total incl. Associated (3)
3,709,327
12.9M - 14.5M
Lead metric tons produced
Uchucchacua
100%
3,763
17.0k - 19.0k
Tambomayo
100%
517
0.5k - 0.6k
Julcani
100%
215
-
Total Direct Operations (2)
4,495
17.5k - 19.6k
Zinc metric tons produced
Uchucchacua
100%
6,968
27.0k - 30.0k
Tambomayo
100%
411
0.8k - 1.0k
Total Direct Operations (2)
7,379
27.8k - 31.0k
Copper metric tons produced
El Brocal
61.43%
10,811
48.0k - 53.0k
Julcani
100%
87
-
Total Direct Operations (2)
10,898
48.0k - 53.0k
2026 projections are considered to be forward-looking statements and represent management’s good faith estimates or expectations of future production results as of April 2026.
Considers 100% of Buenaventura’s operating units, 100% of La Zanja and 100% of El Brocal.
Considers 100% of Buenaventura’s operating units, 100% of La Zanja, 61.43% of El Brocal and 40.094% of Coimolache.
Volume Sold per Metal
Three Months Ended March 31, 2026
Gold ounces sold
El Brocal
1,826
Orcopampa
14,971
Tambomayo
2,667
Julcani
2,114
La Zanja
3,977
San Gabriel
0
Total Direct Operations (1)
25,554
Coimolache
19,656
Total incl. Associated (2)
32,731
Silver ounces sold
El Brocal
488,534
Uchucchacua
538,803
Yumpag
2,000,924
Orcopampa
2,615
Tambomayo
258,557
Julcani
252,233
La Zanja
18,932
San Gabriel
0
Buenaventura Trading (3)
22,011
Total Direct Operations (1)
3,582,609
Coimolache
103,223
Total incl. Associated (2)
3,435,568
Lead metric tons sold
Uchucchacua
3,451
Yumpag
170
Tambomayo
401
Julcani
165
Total Direct Operations (1)
4,187
Zinc metric tons sold
Uchucchacua
5,215
Tambomayo
325
Total Direct Operations (1)
5,540
Copper metric tons sold
El Brocal
9,960
Tambomayo
63
Julcani
0
Buenaventura Trading (3)
2,248
Total Direct Operations (1)
12,269
Considers 100% of Buenaventura’s operating units, 100% of La Zanja, 100% of El Brocal and 100% of Buenaventura Trading.
Considers 100% of Buenaventura’s operating units, 100% of La Zanja, 100% of Buenaventura Trading, 61.43% of El Brocal and 40.094% of Coimolache.
Buenaventura Trading is the vehicle through which Buenaventura purchases copper concentrate from Freeport, produced at Cerro Verde — a company in which Buenaventura holds a 19.58% stake. The concentrate is then sold on the spot market via Buenaventura Trading.
Average realized prices(1)(2)
Three Months Ended March 31, 2026
Gold (US$/Oz)
4,875
Silver (US$/Oz)
99.29
Lead (US$/MT)
1,798
Zinc (US$/MT)
3,316
Copper (US$/MT)
13,696
Considers Buenaventura consolidated figures.
Realized prices include both provisional sales and final adjustments for price changes.
Commentary on Operations
Uchucchacua:
Silver production exceeded 1Q26 projections due to higher than anticipated silver grades.
1Q26 lead and zinc production was in line with projections.
Yumpag:
Silver production exceeded 1Q26 projections, driven by higher-than-expected grades.
El Brocal:
Copper and silver production exceeded projections in 1Q26, primarily due to higher grades from stopes which had been rescheduled to be mined in 1Q26 from 4Q25.
Gold production also outperformed guidance, driven by higher-than-budgeted grades as well as improved recovery during the quarter.
San Gabriel:
San Gabriel entered the ramp-up phase during 1Q26, with activities currently focused on the instrumentation of the grinding circuit and commissioning of tailings filtration system. During this phase, operating parameters are being optimized, resulting in lower ore throughput for the quarter and gold production below projections.
With production volumes continuing to ramp up, the Company expects to start recording sales volumes in 2Q26.
Coimolache:
Gold production for 1Q26 was in line with projections.
Silver production exceeded 1Q26 projections driven by higher-than-anticipated grades and recovery.
Julcani:
Gold production slightly exceeded projections, primarily due to higher ore throughput from the Rosario area.
However, silver production in 1Q26 was below projections, reflecting lower ore throughput and grades.
Tambomayo:
Silver and lead production exceeded projections in 1Q26, primarily driven by the prioritization of higher-grade ore from the upper sections of the mine.
However, gold and zinc production were below projections, reflecting lower grades in the areas mined during the quarter.
Orcopampa:
Gold production in 1Q26 exceeded projections, due to higher-than-budgeted grades.
La Zanja:
Gold production in 1Q26 was in line with projections.
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).
(*) 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/20260416983803/en/
Contacts in Lima:
Daniel Dominguez, Chief Financial Officer
(511) 419 2540
Sebastián Valencia, Head of Investor Relations
(511) 419 2591 / sebastian.valencia@buenaventura.pe
Contact in NY:
Barbara Cano
(646) 452 2334
barbara@inspirgroup.com
Company Website: https://buenaventura.com/en/inversionista/
Original: Buenaventura Announces First Quarter 2026 Results for Production and Volume Sold per Metal
US Market News
3月前
Buenaventura Announces Fourth Quarter and Full Year 2025 ResultsFebruary 26, 2026 9:51 PM
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, today announced results for the fourth quarter (4Q25) and full year (FY25) ended December 31, 2025. All figures have been prepared in accordance with IFRS (International Financial Reporting Standards) on a non-GAAP basis and are stated in U.S. dollars (US$).
Fourth Quarter and Full Year 2025 Highlights:
Buenaventura's 4Q25 consolidated silver production increased by 2% YoY driven by increased production at Tambomayo. Lead production increased by 58% YoY and zinc production increased by 43% YoY, as mining activities at Uchucchacua remained focused on polymetallic stopes during the quarter. Gold production decreased by 11% YoY due to decreased output primarily at Tambomayo. Copper production was in line with 4Q24 levels.
4Q25 EBITDA from direct operations was US$ 353.5 million, compared to US$ 93.4 million reported in 4Q24. FY25 EBITDA from direct operations reached US$ 811.9 million, compared to US$ 431.2 million reported in FY24, which excluded the sale of Chaupiloma Royalty Company.
4Q25 net income reached US$ 383.6 million, compared to US$ 33.6 million in the same period of 2024. FY25 net income was US$ 782.1 million, compared to US$ 402.7 million in FY24, which included the sale of the Chaupiloma Royalty Company.
4Q25 CAPEX related to San Gabriel totaled US$153.4 million, primarily allocated to the completion of the processing plant construction.
Buenaventura ended the year with a cash position of US$ 529.8 million, while net debt amounted to US$ 179.8 million, resulting in a leverage ratio of 0.22x.
On January 29, 2026, subsequent to the quarter’s end, Buenaventura received US $97.9 million in dividends related to its stake in Cerro Verde.
Buenaventura’s Board of Directors has proposed a dividend payment of US$ 0.9904 per share/ADS.
Financial Highlights (in millions of US$, excluding EPS):
4Q25
4Q24
Var %
FY25
FY24
Var %
Total Revenues
623.4
299.6
108%
1,731.6
1,154.6
50%
Operating Income
297.2
45.8
549%
633.2
445.7
42%
EBITDA Direct Operations (1)
353.5
93.4
279%
811.9
431.2
88%
EBITDA Including Affiliates (1)
555.3
185.9
199%
1,392.6
850.2
64%
Net Income (2)
383.6
33.6
1,041%
782.1
402.7
94%
EPS (3)
1.51
0.13
1,041%
3.08
1.59
94%
Does not include US$ 208.9 million from the sale of Chaupiloma Royalty Company in 3Q24.
Net Income attributable to owners of the parent.
As of December 31, 2025, Buenaventura had a weighted average number of shares outstanding of 253,986,867.
For a full version of Compañía de Minas Buenaventura Fourth Quarter 2025 Earnings Release, please visit: https://buenaventura.com/informes-y-reportes
CONFERENCE CALL INFORMATION:
Compañia de Minas Buenaventura will host a conference call on Friday, February 27, 2026, to discuss these results at 10:00 am Eastern Time / 10:00 a.m. Lima Time.
To participate in the conference call, please dial:
Toll-Free US:
+1 844 481 2914
Toll International:
+1 412 317 0697
Passcode:
Please ask to be joined into the Compañía de Minas Buenaventura’s call.
Live Webcast: Click here
If you would prefer to receive a call rather than dial-in, please use the following link 10-15 minutes prior to the conference call start time:
Call Me Link: Click Here
Passcode: 7581884
Participants who do not wish to be interrupted to have their information gathered may have Chorus Call dial out to them by clicking on the above link, filling in the information, and pressing the green phone button at the bottom. The phone number provided will be automatically called and connected to the conference without any interruption to the participant. (Please note: Participants will be joined directly to the conference and will hear hold music until the call begins. No confirmation message will be played when joined.)
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 commercialization of gold, silver and other base metals through wholly-owned mines and 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, a major Peruvian copper producer (a partnership with Freeport-McMorRan Inc. and Sumitomo Corporation).
For a printed version of the Company’s 2024 Form 20-F, please contact the investor relations contacts on page 1 of this report or download the PDF format file from the Company’s web site at www.buenaventura.com.
(*) Operations wholly owned by Buenaventura
Note on Forward-Looking Statements
This press release and related conference call contain, in addition to historical information, forward-looking statements including statements related to the Company’s ability to manage its business and liquidity during and after the COVID-19 pandemic, the impact of the COVID-19 pandemic on the Company’s results of operations, including net revenues, earnings and cash flows, the Company’s ability to reduce costs and capital spending in response to the COVID-19 pandemic if needed, the Company’s balance sheet, liquidity and inventory position throughout and following the COVID-19 pandemic, the Company’s prospects for financial performance, growth and achievement of its long-term growth algorithm following the COVID-19 pandemic, future dividends and share repurchases.
This press release may also 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, 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, 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/20260226583825/en/
Contacts in Lima:
Daniel Dominguez, Chief Financial Officer
(511) 419 2540
Sebastián Valencia, Head of Investor Relations
(511) 419 2591 / sebastian.valencia@buenaventura.pe
Contact in NY:
Barbara Cano
(646) 452 2334
barbara@inspirgroup.com
Company Website: https://buenaventura.com/en/inversionista/
Original: Buenaventura Announces Fourth Quarter and Full Year 2025 Results
US Market News
4月前
Buenaventura Announces Fourth Quarter 2025 Results for Production and Volume Sold per MetalFebruary 17, 2026 5:30 PM
Business Wire
Compañía 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 4Q25 results for production and volume sold.
Production per Metal
Three Months
Ended December 31,
2025
Year Ended
December 31,
2025
Year Ended
December 31,
2026 Guidance (1)
Gold ounces produced
El Brocal
61.43%
5,862
21,102
15.0k - 17.0k
Orcopampa
100%
15,754
55,632
42.0k - 47.0k
Tambomayo
100%
4,870
15,842
5.0k - 6.0k
Julcani
100%
2,253
8,669
9.0k - 11.0k
La Zanja
100%
6,413
20,061
14.0k - 17.0k
San Gabriel
100%
0
0
48.0k - 55.0k
Total Direct Operations (2)
35,151
121,306
133.0k - 153.0k
Coimolache
40.094%
22,779
64,229
90.0k - 100.0k
Total incl. Associated (3)
42,023
138,919
163.3k - 186.5k
Silver ounces produced
El Brocal
61.43%
452,331
1,895,554
1.5M - 1.7M
Uchucchacua
100%
725,513
2,274,399
2.5M - 2.8M
Yumpag
100%
2,109,019
8,851,709
7.9M - 8.7M
Orcopampa
100%
2,897
18,358
-
Tambomayo
100%
386,429
1,119,821
0.2M - 0.3M
Julcani
100%
364,194
1,369,756
1.3M - 1.5M
La Zanja
100%
16,507
48,081
-
San Gabriel
100%
0
0
-
Total Direct Operations (2)
4,056,888
15,577,679
13.4M - 15.0M
Coimolache
40.094%
94,550
331,401
0.3M - 0.4M
Total incl. Associated (3)
3,920,333
14,979,436
12.9M - 14.5M
Lead metric tons produced
Uchucchacua
100%
5,299
16,050
17.0k - 19.0k
Tambomayo
100%
839
2,734
0.5k - 0.6k
Julcani
100%
205
679
-
Total Direct Operations (2)
6,343
19,464
17.5k - 19.6k
Zinc metric tons produced
Uchucchacua
100%
7,700
26,239
27.0k - 30.0k
Tambomayo
100%
781
2,781
0.8k - 1.0k
Total Direct Operations (2)
8,481
29,020
27.8k - 31.0k
Copper metric tons produced
El Brocal
61.43%
14,139
51,902
48.0k - 53.0k
Julcani
100%
111
459
-
Tambomayo
100%
33
84
-
Total Direct Operations (2)
14,283
52,445
48.0k - 53.0k
2026 projections are considered to be forward-looking statements and represent management’s good faith estimates or expectations of future production results as of February 2026.
Considers 100% of Buenaventura’s operating units, 100% of La Zanja and 100% of El Brocal.
Considers 100% of Buenaventura’s operating units, 100% of La Zanja, 61.43% of El Brocal and 40.094% of Coimolache.
Volume Sold per Metal
Three Months Ended
December 31, 2025
Year Ended
December 31, 2025
Gold ounces sold
El Brocal
3,031
11,499
Orcopampa
15,705
56,385
Tambomayo
4,390
14,238
Julcani
1,985
7,773
La Zanja
5,615
19,492
Total Direct Operations (1)
30,725
109,387
Coimolache
24,907
63,209
Total incl. Associated (2)
39,542
130,295
Silver ounces sold
El Brocal
372,326
1,554,536
Uchucchacua
800,994
2,588,824
Yumpag
1,944,366
8,318,696
Orcopampa
2,418
20,029
Tambomayo
352,285
1,015,694
Julcani
343,479
1,300,621
La Zanja
21,133
89,310
Buenaventura Trading (3)
22,106
81,665
Total Direct Operations (1)
3,859,107
14,969,375
Coimolache
102,611
326,084
Total incl. Associated (2)
3,756,642
14,500,531
Lead metric tons sold
Uchucchacua
4,693
14,987
Yumpag
97
231
Tambomayo
632
2,121
Julcani
178
603
Total Direct Operations (1)
5,600
17,941
Zinc metric tons sold
Uchucchacua
6,081
21,835
Tambomayo
630
2,143
Julcani
2
2
Total Direct Operations (1)
6,713
23,980
Copper metric tons sold
El Brocal
13,547
49,124
Tambomayo
121
404
Julcani
21
58
Buenaventura Trading (3)
2,259
8,843
Total Direct Operations (1)
15,949
58,429
Considers 100% of Buenaventura’s operating units, 100% of La Zanja, 100% of El Brocal and 100% of Buenaventura Trading.
Considers 100% of Buenaventura’s operating units, 100% of La Zanja, 100% of Buenaventura Trading, 61.43% of El Brocal and 40.094% of Coimolache.
Buenaventura Trading is the vehicle through which Buenaventura purchases copper concentrate from Freeport, produced at Cerro Verde — a company in which Buenaventura holds a 19.58% stake. The concentrate is then sold on the spot market via Buenaventura Trading.
Average realized prices(1)(2)
Three Months Ended
December 31, 2025
Year Ended
December 31, 2025
Gold (US$/Oz)
4,214
3,547
Silver (US$/Oz)
58.55
41.87
Lead (US$/MT)
1,956
1,912
Zinc (US$/MT)
3,188
2,844
Copper (US$/MT)
11,241
10,071
Considers Buenaventura consolidated figures.
Realized prices include both provisional sales and final adjustments for price changes.
Commentary on Operations
Tambomayo: 2025 gold, silver, lead and zinc production were in line with the Company’s full year guidance.
2026 Guidance: Buenaventura expects gold, silver, lead, and zinc production at its Tambomayo operations to decrease relative to 2025. The Company expects an approximately 65% decrease in throughput for the year, as well as lower gold, silver, lead, and zinc grades as the mining sequence progresses into lower-grade areas at this asset.
Orcopampa: 2025 gold production exceeded revised guidance, driven primarily by higher-than-expected grades. The increase primarily reflects the Company’s success in reassessing areas previously classified as non-mineable, which have since been safely brought into production through the application of Under Cut-and-Fill (UCF) and Over Cut-and-Fill (OCF) mining methods. 2025 silver production was in line with guidance.
2026 Guidance: In 2026, the Company will continue applying Under Cut-and-Fill (UCF) and Over Cut-and-Fill (OCF) mining methods, supporting the extension of mine life into 2026. Production guidance reflects an anticipated 20% year-over-year decrease in gold output, primarily due to lower gold grades expected in the mining areas scheduled for this year.
Coimolache: 2025 gold production exceeded full year 2025 guidance, primarily driven by higher volumes of processed ore and an accelerated percolation rate at the leach pad.
2026 Guidance: The Company expects a year-over-year increase in gold production, as 2026 will mark Coimolache’s first full 12 months of operations at full capacity following the receipt of all required permits.
Julcani: 2025 gold and silver production was in line with 2025 guidance.
2026 Guidance: The Company expects a year-over-year increase in gold production, while silver production is expected to remain consistent with 2025 levels. Throughput is projected to increase by approximately 10%, driven by a greater contribution of ore from the Achilla sector. In the Socorro sector, gold grades are expected to improve as the mining sequence advances into higher-grade areas; however, silver grades in this sector are expected to decline.
Uchucchacua: 2025 silver, lead, and zinc production was in line with guidance for 2025.
2026 Guidance: Buenaventura anticipates a year-over-year increase in silver, lead, and zinc production, supported by an expected approximately 20% increase in throughput for 2026. The increase reflects ongoing operational optimization at Uchucchacua, where processing capacity is projected to increase to 2,500 tonnes per day (tpd) by year-end 2026, an increase from the current 2,000 tpd.
Yumpag: 2025 silver production exceeded guidance, reflecting higher than expected grades.
2026 Guidance: Buenaventura expects higher year-over-year ore volumes to be processed, supported by the mining extraction rate expansion requested in 2025, which would enable operations to reach 1,200 tonnes per day, subject to approval expected in the third quarter of 2026. This increase in volumes is anticipated to be partially offset by lower silver grades, resulting in a year-over-year decrease in silver production.
El Brocal: 2025 gold and silver production was in line with guidance for the year. 2025 copper production was below revised guidance, primarily due to delays in mine development. As a result, certain high-grade stopes are now expected to be mined in the first quarter of 2026.
2026 Guidance: Buenaventura expects copper production to remain broadly consistent with 2025 levels as the underground mine ramp-up continues, partially offset by lower copper grades. The Company aims to maintain a stable average underground mining rate of 13,000 tonnes per day throughout the year. Gold and silver production at El Brocal is expected to decrease in 2026 due to lower grades.
La Zanja: 2025 gold and silver production was in line with guidance for the full year 2025.
2026 Guidance: Guidance reflects an anticipated 25% year-over-year decrease in gold production, primarily driven by the planned re-leaching sequence at the leach pad.
San Gabriel: 2025 gold production was below revised full year guidance, primarily due to delays in obtaining the required permits. While the first doré bar was produced during the year, the operation did not achieve commercial production in 2025.
2026 Guidance: Construction and mine development activities enabling the start of commercial production at San Gabriel have been completed. During 1Q26, Buenaventura will focus on completing the commissioning of the remaining components, primarily related to the filtered tailings plant, and on enhancing the ventilation system with additional equipment.
Regarding permitting and required approvals, San Gabriel received the initial operating permit. The Company expects to receive the definitive operating permit and water license in the coming weeks.
1Q26 production will primarily be sourced from existing stockpiles, while mining activities will progressively start in areas closer to the surface. These timing and mining area adjustments have impacted prior production estimates.
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).
(*) 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/20260217565352/en/
Contacts in Lima:
Daniel Dominguez, Chief Financial Officer
(511) 419 2540
Sebastián Valencia, Head of Investor Relations
(511) 419 2591 / sebastian.valencia@buenaventura.pe
Contact in NY:
Barbara Cano
(646) 452 2334
barbara@inspirgroup.com
Company Website: https://buenaventura.com/en/inversionista/
Original: Buenaventura Announces Fourth Quarter 2025 Results for Production and Volume Sold per Metal
Hot Features
プレミアム
登録してリアルタイムのアラート、カスタムポートフォリオ、市場の動きを入手してください。
DarkPool
3年前
dannyboy7
6年前
stocktrademan
10年前
THREE-DAY-TRADER
11年前
Penny Roger$
13年前
メールアドレスで登録
