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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 |
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| 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 |
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| 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 |
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| 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 |
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| 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 |
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| El Brocal | 61.43% | 10,811 | 48.0k - 53.0k | ||
| Julcani | 100% | 87 | - | ||
| Total Direct Operations (2) | 10,898 | 48.0k - 53.0k |
|
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 |
|
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 |
|
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/
