Buenaventura Suspends Ore Treatment at El Brocal Mine

TL;DR

Buenaventura halts El Brocal ore processing due to tailings dam issue, but underground mining continues.

AI Summary

Compañía de Minas Buenaventura S.A.A. announced on May 22, 2024, a voluntary temporary suspension of ore treatment at its El Brocal mine's underground operations. This suspension is due to a recent incident involving a failure in the mine's tailings dam. Underground mining activities at El Brocal will continue as normal, but the ore processing will be halted.

Why It Matters

This suspension could impact Buenaventura's production and revenue from the El Brocal mine, potentially affecting its financial performance in the short term.

Risk Assessment

Risk Level: medium — The suspension of ore treatment at a significant mine due to a tailings dam incident introduces operational and environmental risks that could affect production and financial results.

Key Players & Entities

• Compañía de Minas Buenaventura S.A.A. (company) — Filer and operator of El Brocal mine
• El Brocal mine (company) — Mine where ore treatment is suspended
• May 22, 2024 (date) — Date of announcement

FAQ

Filing Documents

• tm2415357d1_6k.htm (6-K) — 16KB
• image_001.jpg (GRAPHIC) — 34KB
• image_002.jpg (GRAPHIC) — 152KB
• 0001104659-24-064351.txt ( ) — 274KB

From the Filing

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K Report of Foreign Issuer Pursuant to Rule 13a-16 or 15d-16 of the Securities Exchange Act of 1934 For the month of May 2024 Commission File Number: 001-14370 COMPANIA DE MINAS BUENAVENTURA S.A.A. (Exact name of registrant as specified in its charter) BUENAVENTURA MINING COMPANY INC. (Translation of registrant's name into English) CARLOS VILLARAN 790 SANTA CATALINA, LIMA 13, PERU (Address of principal executive office) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F: Form 20-F Form 40-F Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): Yes No Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): Yes No Buenaventura Announces Voluntary Temporary Ore Treatment Suspension at El Brocal Mine Underground Mining Continues Per Normal Lima, Peru, May 22, 2024 – 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 the voluntary temporary suspension of El Brocal’s processing plant facilities. Underground mining works at El Brocal continue uninterrupted per normal, with accumulated mined ore stockpiled for later processing, as has been previously provisioned and authorized, to be processed once concentrator plant operations have resumed. A small group from the Huaraucaca Community residing adjacent to the El Brocal processing facility entered the property without El Brocal’s authorization. The Company has therefore voluntarily suspended its two El Brocal processing plant operations to ensure the safety of its employees and infrastructure. Buenaventura maintains a respectful open dialog with all communities surrounding its operations, and is therefore confident that discussions with the Huaraucaca community will result in a peaceful and mutually amenable resolution. The Company will continue to maintain a proactively prudent approach at all of its operations, prioritizing the safety of its workers and of its facilities. 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 2023 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 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 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. COMPAÑÍA DE MINAS BUENAVENTURA S.A.A. Date: May 22, 2024 By: /s/ DANIEL DOMÍNGUEZ VERA Name: Daniel Domínguez Vera Title: Market Relations Officer

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View this 6-K filing on SEC EDGAR