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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 its production and sales volumes for third quarter of 2026.
Production by Metal
| Three Months Ended | Nine Months Ended | 2026 Updated Guidance (1) | ||||
| Gold ounces produced |
|
|
|
|
|
|
| El Brocal | 4,731 |
| 13,557 |
| 15.0k - 17.0k | |
| San Gabriel | 599 |
| 5,059 |
| 15.0k - 20.0k | |
| Julcani | 3,735 |
| 8,949 |
| 11.0k - 13.0k | |
| Orcopampa | 12,362 |
| 41,335 |
| 48.0k - 53.0k | |
| Tambomayo | 4,034 |
| 10,030 |
| 9.0k - 11.0k | |
| La Zanja | 3,547 |
| 10,625 |
| 14.0k - 17.0k | |
| Total Direct Operations (2) | 29,009 |
| 89,556 |
| 112.0k - 131.0k | |
| Coimolache | 25,418 |
| 70,112 |
| 90.0k - 100.0k | |
| Total Incl. Associated Companies (3) | 37,375 |
| 112,437 |
| 142.3k - 164.5k | |
|
|
|
|
|
| ||
| Silver ounces produced |
|
|
|
|
|
|
| Uchucchacua | 565,020 |
| 1,687,023 |
| 2.5M - 2.8M | |
| Yumpag | 1,915,570 |
| 6,319,491 |
| 8.5M - 9.0M | |
| El Brocal | 390,292 |
| 1,368,582 |
| 1.5M - 1.7M | |
| San Gabriel | 420 |
| 2,748 |
| - | |
| Julcani | 291,370 |
| 754,835 |
| 1.0M - 1.2M | |
| Orcopampa | 3,227 |
| 9,253 |
| - | |
| Tambomayo | 182,691 |
| 703,060 |
| 0.9M - 1.1M | |
| La Zanja |
| 11,929 |
| 36,178 |
| - |
| Total Direct Operations (2) | 3,360,520 |
| 10,881,170 |
| 14.4M - 15.8M | |
| Coimolache | 113,074 |
| 336,929 |
| 0.3M - 0.4M | |
| Total Incl. Associated Companies (3) | 3,255,320 |
| 10,488,396 |
| 13.9M - 15.3M | |
|
|
|
|
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| ||
| Lead metric tons produced |
|
|
|
|
|
|
| Uchucchacua | 3,702 |
| 10,740 |
| 17.0k - 19.0k | |
| Julcani | 112 |
| 406 |
| - | |
| Tambomayo | 456 |
| 1,259 |
| 1.5k - 1.8k | |
| Total Direct Operations (2) | 4,270 |
| 12,406 |
| 18.5k - 20.8k | |
|
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|
|
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| ||
| Zinc metric tons produced |
|
|
|
|
|
|
| Uchucchacua | 6,433 |
| 20,419 |
| 27.0k - 30.0k | |
| Tambomayo | 505 |
| 1,259 |
| 1.6k - 1.8k | |
| Total Direct Operations (2) | 6,938 |
| 21,678 |
| 28.6k - 31.8k | |
|
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|
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| Copper metric tons produced |
|
|
|
|
|
|
| El Brocal | 13,534 |
| 37,775 |
| 48.0k - 53.0k | |
| Julcani | 68 |
| 200 |
| - | |
| Total Direct Operations (2) | 13,602 |
| 37,975 |
| 48.0k - 53.0k |
- 2026 guidance, including production guidance, constitutes forward-looking statements and reflects management's current estimates or expectations and assumptions as of the date of this press release. Such guidance is not a guarantee of future performance, and actual results may differ materially.
- Includes 100% of Buenaventura's operating units, 100% of La Zanja and 100% of El Brocal.
- Includes 100% of Buenaventura's operating units, 100% of La Zanja, 61.43% of El Brocal and 40.094% of Coimolache.
Sales Volumes by Metal
| Three Months Ended | Nine Months Ended | |||
| Gold ounces sold |
|
|
|
|
| El Brocal | 1,974 | 5,638 | ||
| San Gabriel | 1,418 | 4,621 | ||
| Julcani | 3,448 | 8,119 | ||
| Orcopampa | 12,353 | 41,407 | ||
| Tambomayo | 3,736 | 9,092 | ||
| La Zanja |
| 2,392 |
| 9,555 |
| Total Direct Operations (1) | 25,321 | 78,431 | ||
| Coimolache | 23,868 | 67,088 | ||
| Total Incl. Associated Companies (2) | 34,129 | 103,155 | ||
| Silver ounces sold |
|
|
|
|
| Uchucchacua | 978,407 | 2,169,607 | ||
| Yumpag | 1,899,002 | 6,005,133 | ||
| El Brocal | 251,641 | 1,015,437 | ||
| San Gabriel | 370 | 1,624 | ||
| Julcani | 261,716 | 642,601 | ||
| Orcopampa | 3,946 | 10,226 | ||
| Tambomayo | 164,608 | 626,359 | ||
| La Zanja | 9,235 | 43,167 | ||
| Buenaventura Trading (3) |
| 20,365 |
| 62,446 |
| Total Direct Operations (1) | 3,589,290 | 10,576,599 | ||
| Coimolache | 106,343 | 322,176 | ||
| Total Incl. Associated Companies (2) | 3,534,869 | 10,314,118 | ||
| Lead metric tons sold |
|
|
|
|
| Uchucchacua | 3,387 | 9,964 | ||
| Yumpag | 174 | 468 | ||
| Julcani | 79 | 288 | ||
| Tambomayo | 331 | 899 | ||
| Total Direct Operations (1) | 3,970 | 11,619 | ||
| Zinc metric tons sold |
|
|
|
|
| Uchucchacua | 5,364 | 16,423 | ||
| Tambomayo | 359 | 914 | ||
| Total Direct Operations (1) | 5,724 | 17,338 | ||
| Copper metric tons sold |
|
|
|
|
| El Brocal | 12,554 | 34,956 | ||
| Julcani | 14 | 22 | ||
| Tambomayo | 85 | 193 | ||
| Buenaventura Trading (3) | 2,168 | 6,551 | ||
| Total Direct Operations (1) | 14,821 | 41,722 |
- Includes 100% of Buenaventura's operating units, 100% of La Zanja, 100% of El Brocal and 100% of Buenaventura Trading.
- Includes 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 an entity through which Buenaventura purchases copper concentrate from Freeport, produced at Cerro Verde, in which Buenaventura holds a 19.58% ownership interest. The concentrate is subsequently sold on the spot market through Buenaventura Trading.
Average Realized Prices (1)(2)
| Three Months Ended | Nine Months Ended | |||
| Gold (US$/Oz) |
| 4,216 | 4,475 | |
| Silver (US$/Oz) | 57.82 | 82.07 | ||
| Lead (US$/MT) |
| 1,612 | 1,751 | |
| Zinc (US$/MT) | 3,987 | 3,585 | ||
| Copper (US$/MT) |
| 15,190 | 14,343 |
- Based on Buenaventura's consolidated figures.
- Realized prices include provisional pricing and final pricing adjustments.
Commentary on Operations
Uchucchacua:
- 3Q26 silver, lead and zinc production was in line with projections.
- 2026 guidance remains unchanged.
Yumpag:
- 3Q26 silver production was in line with projections. The lower grades recorded during the quarter were consistent with the mine plan.
- 2026 guidance remains unchanged.
El Brocal:
- 3Q26 copper, silver and gold production was in line with projections. As planned, the operation achieved a processing rate of 13,500 tons per day (tpd) by quarter-end.
- 2026 guidance remains unchanged.
San Gabriel:
- 3Q26 gold production was below projections due to lower ore throughput during the ramp-up phase. Processing was constrained for most of the quarter as the first phase of reinforcement work on the tailings filtration system was completed. Processing resumed during the final week of September, with processing throughput recovering to approximately 1,300 tpd by quarter-end. Additional reinforcement work will be undertaken progressively, one filter at a time, over the next six months, to support the continued ramp-up and resolve this processing constraint in the first half of 2027. Despite these temporary processing constraints, mining activities continued throughout the quarter, with mining rates stabilizing at 1,700 tpd by quarter-end, resulting in a stockpile of approximately 100,000 metric tons at quarter-end.
- 2026 gold production guidance has been revised to reflect the updated ramp-up schedule and temporary constraints related to the tailings filtration system.
Coimolache:
- 3Q26 gold and silver production was in line with projections.
- 2026 guidance remains unchanged.
Julcani:
- 3Q26 gold production slightly exceeded projections, primarily due to higher-than-planned contribution from gold-rich zones. Conversely, silver production was below projections, reflecting lower-than-planned contribution of ore from silver-rich zones during the quarter.
- 2026 production guidance has been revised to reflect the expected production mix.
Orcopampa:
- 3Q26 gold production slightly exceeded projections, primarily due to higher ore throughput.
- 2026 guidance remains unchanged.
Tambomayo:
- 3Q26 gold production exceeded projections, driven by higher-than-expected gold grades.
- 3Q26 silver, lead and zinc production was in line with projections.
- 2026 guidance remains unchanged.
La Zanja:
- 3Q26 gold production was in line with projections.
- 2026 guidance remains unchanged.
Company Description
Compañía de Minas Buenaventura S.A.A. is Peru's largest publicly traded precious and base metals mining Company and a major holder of mining rights in Peru. The Company engages in the exploration, development, mining, processing and sale of gold, silver and base metals through its wholly-owned operations and interests in joint ventures. Buenaventura currently operates several mines in Peru (Orcopampa*, Uchucchacua*, Julcani*, Tambomayo*, La Zanja*, San Gabriel*, El Brocal and Coimolache).
The Company holds a 19.58% ownership interest in Sociedad Minera Cerro Verde, a major Peruvian copper producer, alongside Freeport-McMoRan Inc. and Sumitomo Corporation.
(*) Wholly owned operations.
Note on Forward-Looking Statements
This press release may contain forward-looking statements (as defined in the U.S. Private Securities Litigation Reform Act of 1995) that involve risks and uncertainties. Words such as "anticipate," "believe," "estimate," "expect," "guidance," "intend," "plan," "project," "target," "will" and similar expressions are intended to identify forward-looking statements. Forward-looking statements include those concerning Compañía de Minas Buenaventura S.A.A.'s (the "Company") and Sociedad Minera Cerro Verde S.A.A.'s production guidance, operating performance, costs and expenses, mine development and ramp-up schedules, results of exploration, improvements in operating efficiency, prevailing market prices of gold, silver, copper and other metals mined, the success of joint ventures, estimates of future exploration, development and production, the Company's and its subsidiaries' plans for capital expenditures and estimates of reserves. These forward-looking statements reflect the Company's current expectations and assumptions regarding its future operating and financial performance and are not guarantees of future performance. Actual results could differ materially from those expressed or implied by the forward-looking statements as a result of these and other risks and uncertainties, including those discussed in the Company's filings with the U.S. Securities and Exchange Commission. Forward-looking statements speak only as of the date of this release, and the Company undertakes no obligation to update or revise them, except as required by applicable law.
View source version on businesswire.com: https://www.businesswire.com/news/home/20261015935057/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/
