Buenaventura Announces Second Quarter 2026 Results for Production and Volume Sold per Metal

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Key Terms

tailings-management technical

Tailings-management is the system of storing, treating and monitoring the leftover crushed rock, water and chemicals produced by mining and mineral processing. Think of it as the industrial equivalent of a carefully engineered landfill and wastewater system: it covers how tailings are contained, dewatered, lined, monitored and eventually closed. It matters to investors because the design, maintenance and regulatory compliance of tailings facilities affect ongoing operating costs, legal and environmental liabilities, permitting, and the company’s ability to keep producing and meet long‑term closure obligations.

tailings filtration plant technical

A tailings filtration plant is an industrial facility that separates water from the leftover sand-and-rock slurry produced by mining, turning wet tailings into a drier, compacted “cake” and recovering water for reuse. Think of it like wringing water out of wet laundry: the process reduces the volume and mobility of mine waste, lowers the need for large wet tailings ponds, and affects a mine’s environmental footprint, operating costs, capital needs, and regulatory compliance — factors that matter to investors evaluating project risk and economics.

spot market financial

The spot market is where assets—like stocks, commodities, or currencies—are exchanged for immediate delivery and payment at the current market price. It matters to investors because spot prices reflect real-time supply and demand, guide short-term trading decisions, and serve as the baseline for contracts and valuations; think of it as buying an item at the store right now instead of ordering it for later.

forward-looking statements regulatory

Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.

provisional sales financial

Provisional sales are preliminary revenue figures a company releases before final numbers are verified and adjusted; think of them as an early snapshot of how much product or service was sold that may be updated later. Investors watch these because they offer an early read on business momentum and can move stock prices, but they carry extra uncertainty since returns, discounts or accounting corrections can change the final result.

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07/16/2026 - 04:30 PM

LIMA, Peru--(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 2Q26 results for production and volume sold.

Production per Metal

		Three Months Ended June 30, 2026	Six Months Ended June 30, 2026	2026 Updated Guidance ⁽¹⁾

Gold ounces produced
El Brocal	61.43%	4,621	8,826	15.0k - 17.0k
San Gabriel	100%	2,774	4,460	25.0k - 30.0k
Julcani	100%	2,750	5,214	9.0k - 11.0k
Orcopampa	100%	13,981	28,973	48.0k - 53.0k
Tambomayo	100%	3,033	5,996	9.0k -11.0k
La Zanja	100%	3,384	7,078	14.0k - 17.0k
Total Direct Operations ⁽²⁾		30,543	60,547	120.0k - 139.0k
Coimolache	40.094%	21,214	44,694	90.0k - 100.0k
Total incl. Associated Companies⁽³⁾		37,266	75,062	150.3k - 172.5k

Silver ounces produced
Uchucchacua	100%	527,892	1,122,003	2.5M - 2.8M
Yumpag	100%	2,320,439	4,403,922	8.5M - 9.0M
El Brocal	61.43%	370,538	978,289	1.5M - 1.7M
San Gabriel	100%	1,487	2,328	-
Julcani	100%	164,168	463,465	1.3M - 1.5M
Orcopampa	100%	3,456	6,026	-
Tambomayo	100%	226,044	520,369	0.9M - 1.1M
La Zanja	100%	10,489	24,249	-
Total Direct Operations ⁽²⁾		3,624,514	7,520,650	14.7M - 16.1M
Coimolache	40.094%	105,133	223,854	0.3M - 0.4M
Total incl. Associated Companies⁽³⁾		3,523,749	7,233,076	14.2M - 15.6M

Lead metric tons produced
Uchucchacua	100%	3,276	7,038	17.0k - 19.0k
Julcani	100%	79	294	-
Tambomayo	100%	286	804	1.5k - 1.8k
Total Direct Operations ⁽²⁾		3,642	8,136	18.5k - 20.8k

Zinc metric tons produced
Uchucchacua	100%	7,018	13,986	27.0k - 30.0k
Tambomayo	100%	342	754	1.6k - 1.8k
Total Direct Operations ⁽²⁾		7,360	14,740	28.6k - 31.8k

Copper metric tons produced
El Brocal	61.43%	13,430	24,241	48.0k - 53.0k
Julcani	100%	45	132	-
Total Direct Operations ⁽²⁾		13,475	24,373	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 July 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 June 30, 2026	Six Months Ended June 30, 2026

Gold ounces sold
El Brocal	1,837	3,663
San Gabriel	3,203	3,203
Julcani	2,557	4,671
Orcopampa	14,083	29,054
Tambomayo	2,689	5,356
La Zanja	3,187	7,163
Total Direct Operations ⁽¹⁾	27,556	53,110
Coimolache	23,564	43,220
Total incl. Associated Companies ⁽²⁾	33,092	65,823

Silver ounces sold
Uchucchacua	652,397	1,191,200
Yumpag	2,105,206	4,106,131
El Brocal	275,261	763,795
San Gabriel	1,254	1,254
Julcani	128,651	380,884
Orcopampa	3,666	6,280
Tambomayo	203,195	461,751
La Zanja	15,001	33,933
Buenaventura Trading ⁽³⁾	20,069	42,081
Total Direct Operations ⁽¹⁾	3,404,700	6,987,309
Coimolache	112,609	215,833
Total incl. Associated Companies ⁽²⁾	3,342,427	6,777,995

Lead metric tons sold
Uchucchacua	3,126	6,577
Yumpag	125	294
Julcani	45	209
Tambomayo	167	568
Total Direct Operations ⁽¹⁾	3,462	7,649

Zinc metric tons sold
Uchucchacua	5,844	11,059
Tambomayo	229	555
Total Direct Operations ⁽¹⁾	6,074	11,614

Copper metric tons sold
El Brocal	12,442	22,402
Julcani	9	8
Tambomayo	45	108
Buenaventura Trading ⁽³⁾	2,135	4,383
Total Direct Operations ⁽¹⁾	14,632	26,901

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 June 30, 2026	Six Months Ended June 30, 2026

Gold (US$/Oz)	4,342	4,599
Silver (US$/Oz)	89.52	94.53
Lead (US$/MT)	1,852	1,822
Zinc (US$/MT)	3,451	3,387
Copper (US$/MT)	14,029	13,877

Considers Buenaventura consolidated figures.
Realized prices include both provisional sales and final adjustments for price changes.

Commentary on Operations

Uchucchacua:

2Q26 silver, lead and zinc production was in line with projections.
2026 guidance remains unchanged.

Yumpag:

2Q26 silver production exceeded projections, driven by higher-than-expected grades.
2026 guidance has been revised to reflect the stronger-than-expected grade profile.
After quarter’s end, in 3Q26, the Company received approval to increase the mining rate to 1,200 from 1,000 tonnes per day.

El Brocal:

2Q26 copper, silver and gold production was in line with projections.
2026 guidance remains unchanged.

San Gabriel:

San Gabriel continued its ramp-up during 2Q26, with operating parameters undergoing further optimization. During the quarter, processed tonnage was constrained by tailings-management challenges, particularly at the tailings filtration plant. Initiatives to improve metallurgical recoveries are ongoing.
2026 production guidance has been revised to reflect tailings-management constraints and current metallurgical recovery rates.
The Company began recording sales volumes in 2Q26.

Coimolache:

2Q26 gold and silver production was in line with expectations.
2026 guidance remains unchanged.

Julcani:

Silver and gold production in 2Q26 was in line with projections.
2026 guidance remains unchanged.

Orcopampa:

2Q26 gold production slightly exceeded projections, primarily due to higher ore throughput.
2026 guidance has been revised to reflect higher grades in areas currently under development.

Tambomayo:

2Q26 gold, lead and zinc production was in line with projections.
2Q26 silver production exceeded projections, driven by higher-than-anticipated silver grades.
2026 production guidance has been revised to reflect increased production volumes, supported by positive exploration results and the current commodity price environment.

La Zanja:

2Q26 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 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*, San Gabriel*, 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/20260716324389/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/

Source: Compañía de Minas Buenaventura S.A.A.

Buenaventura Announces Second Quarter 2026 Results for Production and Volume Sold per Metal

Key Terms

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