Buenaventura Announces Third Quarter and Nine-Month 2026 Results

Higher earnings accompanied mixed mine production, while San Gabriel processing remained constrained for most of the quarter.

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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 results for the third quarter (3Q26) and nine months ended September 30, 2026 (9M26). Financial results are prepared in accordance with International Financial Reporting Standards (IFRS), except for certain non-IFRS financial measures identified herein. All amounts are stated in U.S. dollars (US$), unless otherwise indicated.

Third Quarter 2026 Highlights:

• Direct operations copper production increased by 7% year-over-year (YoY), primarily driven by higher ore throughput at El Brocal. Direct operations gold production decreased by 6% YoY, while equity-attributable gold production, including associated companies, increased by 7% YoY, primarily reflecting a full quarter of operations at nameplate capacity at Coimolache, partially offset by lower production at La Zanja, Orcopampa and Tambomayo. Direct operations silver production decreased by 21% YoY, primarily due to lower planned silver grades at Yumpag. Lead and zinc production decreased by 12% and 1% YoY, respectively, with the decline in lead production primarily reflecting lower grades at Uchucchacua.
• 3Q26 EBITDA from direct operations was US$ 261.2 million, compared with US$ 195.3 million reported in 3Q25. EBITDA from direct operations for the first nine months of 2026 was US$ 882.0 million, compared with US$ 434.1 million reported in the corresponding period of 2025.
• 3Q26 net income was US$ 268.4 million, compared with US$ 179.0 million reported in 3Q25. Net income for the first nine months of 2026 was US$ 825.4 million, compared with US$ 424.2 million in net income for the corresponding period of 2025.
• Processing at San Gabriel remained 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. Additional reinforcement work is planned to be carried out progressively over the next six months. Mining activities continued throughout the quarter, resulting in an ore stockpile of approximately 100,000 metric tons at quarter-end.
• Buenaventura reported a cash balance of US$ 1,000.6 million as of September 30, 2026, and negative net debt of US$ 307.3 million, representing a net cash position. The Company’s reported leverage ratio was negative 0.25x.
• Buenaventura’s Board of Directors approved a dividend of US$ 0.5508 per share or American Depositary Shares (ADS).

Financial Highlights (US$ millions, except earnings per share):

	3Q26	3Q25	Var %	9M26	9M25	Var %
Total Revenues	545.3	431.0	27%	1,698.9	1,108.2	53%
Operating Income	226.4	154.3	47%	777.9	336.1	131%
EBITDA Direct Operations (1)	261.2	195.3	34%	882.0	434.1	103%
EBITDA Including Affiliates	509.5	338.1	51%	1,534.7	811.4	89%
Net Income (2)	268.4	179.0	50%	825.4	424.2	95%
EPS (2)(3)	1.06	0.70	50%	3.25	1.67	95%
(1) Beginning in 3Q26, the Company revised its EBITDA calculation methodology and restated for comparative figures to present them on a consistent basis. See Appendix 3 for additional information.
(2) Total net income for the period.
(3) Earnings per share is calculated based on the weighted-average number of shares outstanding during the period. The weighted average number of shares outstanding for the period ended September 30, 2026, was 253,986,867.

For a full version of Compañía de Minas Buenaventura Third Quarter 2026 Earnings Release, please visit: https://buenaventura.com/informes-y-reportes

CONFERENCE CALL INFORMATION:

Compañia de Minas Buenaventura will host a conference call on Friday, October 30, 2026, to discuss these results at 12:00 pm Eastern Time / 11:00 a.m. Lima Time.

To participate in the conference call, please dial:

Toll-Free US:
+1 844 481 2914

Toll International:
+1 412 317 0697

Passcode:
Please ask to be joined into the Compañía de Minas Buenaventura’s call.

Live Webcast: Click here

If you would prefer to receive a call rather than dial-in, please use the following link 10-15 minutes prior to the conference call start time:
Call Me Link: Click Here
Passcode: 1556919

Participants who do not wish to be interrupted to have their information gathered may have Chorus Call dial out to them by clicking on the above link, filling in the information, and pressing the green phone button at the bottom. The phone number provided will be automatically called and connected to the conference without any interruption to the participant. (Please note: Participants will be joined directly to the conference and will hear hold music until the call begins. No confirmation message will be played when joined.)

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.

For a printed copy of the Company’s 2025 Form 20-F, please contact Investor Relations or download the PDF version from the Company’s website at www.buenaventura.com.

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/20261029094610/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.

Key Terms

ifrs financial

International Financial Reporting Standards (IFRS) are a set of common accounting rules used by many companies worldwide to prepare financial statements, so numbers like revenue, profit and assets are measured in the same way across borders. For investors, IFRS matters because it makes it easier to compare the financial health and performance of different companies—like using the same ruler to measure different objects—reducing surprises and helping informed investment decisions.

ebitda financial

EBITDA stands for earnings before interest, taxes, depreciation, and amortization. It measures a company's profitability by focusing on the money it makes from its core operations, ignoring expenses like taxes and accounting adjustments. Investors use EBITDA to compare how well different companies are performing financially, as it provides a clearer picture of operational success without the influence of financial structure or accounting choices.

View in glossary

american depositary shares financial

American depositary shares (ADSs) are a way for investors in the United States to buy shares of foreign companies without dealing with international markets directly. They represent ownership in a foreign company's stock and are traded on U.S. stock exchanges, making it easier for American investors to buy, sell, and own parts of companies from around the world.

ore throughput technical

Ore throughput is the quantity of mined ore fed through a processing facility or plant over a given time period, usually expressed in tonnes per day (t/d) or tonnes per annum. It measures material-handling capacity — how much rock or ore the crushing, grinding and milling circuits move and treat — rather than the amount of metal recovered; actual metal production depends on ore grade and recovery rates. Throughput can be reported as a nominal design capacity or as achieved (actual) throughput, and is affected by equipment capacity, plant availability, and operational bottlenecks.