Buenaventura Announces Second Quarter 2025 Results for Production and Volume Sold per Metal

About this update from Compania De Minas Buenaventura Saa

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 2Q25 results for production and volume sold. Production per Metal Three Months Ended June 30, 2025 Six Months Ended June 30, 2025 2025 Updated Guidance (1)   Gold ounces produced               El Brocal 61.43% 5,581 10,208 18.0k - 20.0k Orcopampa 100% 12,270 26,565 48.0k - 52.0k Tambomayo 100% 2,985 6,019 12.5k - 15.5k Julcani 100% 2,084 3,964 7.5k - 9.5k La Zanja 100% 4,423 8,505 18.0k - 21.0k San Gabriel (4) 100% 0 0 10.0k - 15.0k Total Direct Operations (2) 27,344 55,261 114.0k - 133.0k Coimolache 40.094% 13,149 26,492 50.0k - 55.0k Total incl. Associated Companies (3) 30,463 61,946 127.1k - 147.3k   Silver ounces produced               El Brocal 61.43% 390,486 828,219 1.4M - 1.6M Uchucchacua 100% 511,615 963,791 2.7M - 3.2M Yumpag 100% 2,154,792 4,430,591 8.0M - 8.2M Orcopampa 100% 6,526 11,635 - Tambomayo 100% 191,181 352,574 1.2M - 1.5M Julcani 100% 299,697 639,442 1.5M - 1.8M La Zanja 100% 9,198 15,880 - Total Direct Operations (2) 3,563,496 7,242,132 14.8M - 16.3M Coimolache 40.094% 78,921 168,489 0.2M - 0.3M Total incl. Associated Companies (3) 3,444,528 6,990,242 14.3M - 15.8M   Lead metric tons produced               Uchucchacua 100% 3,569 6,696 16.0k - 18.0k Tambomayo 100% 767 1,270 1.7k - 2.2k Julcani 100% 154 281 0.8k - 1.0k Total Direct Operations (2) 4,490 8,247 18.5k - 21.2k   Zinc metric tons produced               Uchucchacua 100% 6,872 12,144 23.0k - 26.0k Tambomayo 100% 878 1,405 2.0k - 2.5k Total Direct Operations (2) 7,750 13,549 25.0k - 28.5k   Copper metric tons produced               El Brocal 61.43% 13,079 25,142 55.0k - 60.0k Julcani 100% 102 222 - Tambomayo 100% 12 29 - Total Direct Operations (2) 13,194 25,392 55.0k - 60.0k 2025 projections are considered to be forward-looking statements and represent management’s good faith estimates or expectations of future production results as of July 2025. 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. 4Q25 targeted production initiation remains unchanged, subject to final permitting and required approvals. Volume Sold per Metal Three Months Ended June 30, 2025 Six Months Ended June 30, 2025   Gold ounces sold         El Brocal 3,244 5,912 Orcopampa 12,158 26,904 Tambomayo 2,594 5,284 Julcani 1,882 3,556 La Zanja 4,333 8,967 Total Direct Operations (1) 24,212 50,623 Coimolache 13,440 24,870 Total incl. Associated Companies (2) 28,349 58,314   Silver ounces sold         El Brocal 309,222 669,143 Uchucchacua 560,680 1,057,479 Yumpag 2,056,853 4,244,210 Orcopampa 6,925 13,408 Tambomayo 170,144 315,845 Julcani 282,420 602,698 La Zanja 21,538 46,402 Buenaventura Trading (3) 39,451 39,451 Total Direct Operations (1) 3,447,233 6,988,636 Coimolache 83,064 161,790 Total incl. Associated Companies (2) 3,361,270 6,795,416   Lead metric tons sold         Uchucchacua 3,482 6,418 Yumpag 31 69 Tambomayo 634 1,020 Julcani 138 247 Total Direct Operations (1) 4,284 7,754   Zinc metric tons sold         Uchucchacua 5,829 10,191 Tambomayo 671 1,103 Total Direct Operations (1) 6,499 11,294   Copper metric tons sold         El Brocal 12,439 23,763 Tambomayo 112 179 Julcani 12 21 Buenaventura Trading (3) 4,295 4,295 Total Direct Operations (1) 16,859 28,258 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 by Buenaventura Trading on the spot market. Average realized prices (1)(2) Three Months Ended June 30, 2024 Six Months Ended June 30, 2024   Gold (US$/Oz)   3,306   3,116 Silver (US$/Oz) 34.39 33.29 Lead (US$/MT)   1,880   1,886 Zinc (US$/MT) 2,541 2,656 Copper (US$/MT)   9,560   9,452 Considers Buenaventura consolidated figures. Realized prices include both provisional sales and final adjustments for price changes. Commentary on Operations Tambomayo: 2Q25 gold and silver production was below expectations due to delayed processing of high-grade oxide ore from the mine’s upper zones. High-grade oxide ore processing began in late June after flowsheet revisions were completed to optimize the mine processing plant, enabling an increase metallurgical gold and silver recovery. 2025 gold and silver guidance remains unchanged. Zinc and lead guidance has been revised. Orcopampa: Gold production was below projections, as slower than anticipated mine development due to poor ground conditions during the quarter required high-grade stope mining planned for 2Q25 to be deferred to 2H25. This was partially offset by increased gold grades mined during 2Q25. 2025 guidance has been revised to reflect increased grade and tonnage for those areas under development. 2Q25 silver production was in line with expectations. 2025 guidance therefore remains unchanged. Coimolache: 2Q25 gold and silver were in line with expectations. Coimolache’s leach pad expansion construction permit was granted in 2Q25. The operating permit to resume mine and pad production at full capacity is expected to be issued in late 3Q25. 2025 guidance remains unchanged. Julcani: Gold and silver production was in line with expectations. 2025 guidance remains unchanged. Uchucchacua: 2Q25 silver production was below expectations due to a decrease in silver grades mined during the quarter. This was primarily attributable to modifications made to the initial mining plan as was required to accommodate additional water pumping and ancillary works, which shifted targeted mining to polymetallic stopes during the quarter, from the prior target of mining bottom-level stopes with higher silver content. 2025 guidance remains unchanged. Uchucchacua daily throughput increased to an average of 1,800 TPD during 2Q25, aligned with the Company’s targeted 2,000 TPD by year end 2025. Yumpag: Silver production exceeded 2Q25 projections due to higher grades mined during the quarter. This resulted from the Company implementing the Over-Drift-Fill (ODF) mining method, a more selective mining method, rather than the sublevel stoping approach used previously. ODF has proven to be more suitable for the highly irregular Camila orebody, with improved ore extraction with a decreased waste. 2025 guidance has been updated accordingly. El Brocal: Silver and gold outperformed expectations due to higher than anticipated ore grades, reflecting the Company’s short-term plan of prioritizing those mining blocks with high precious metals content. Copper production was slightly below expectations for 2Q25. 2025 copper guidance remains unchanged; gold and silver guidance has been revised. 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/20250716261913/en/

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