Buenaventura (NYSE: BVN) reports first dore bar and 2026 gold guidance

Rhea-AI Filing Summary

Compañía de Minas Buenaventura reports a key milestone at its new San Gabriel gold operation in Moquegua, Peru, where commissioning tests have produced the first dore bar. This step was achieved in line with the planned timeline, and the company is working with the Ministry of Energy and Mines to complete arrangements needed to begin full-scale production and sales.

San Gabriel is expected to process 2,000 tons per day in 2026 within a nameplate capacity of 3,000 tons per day, with 2026 production guidance of 70,000 to 80,000 ounces of gold. Management describes San Gabriel as its new flagship mine that will replace output from depleting operations and is intended to support significant growth and long-term value through sustainable mining.

Insights

Mining sector and project development analyst

San Gabriel reaches first dore production, advancing toward full-scale output.

Buenaventura reports that its San Gabriel gold project has produced a first dore bar as part of commissioning, on schedule with prior plans. This indicates that processing facilities are operating sufficiently to generate saleable product, a key step in moving from construction to full operation.

The company reiterates expectations that San Gabriel will reach a processing rate of 2,000 tons per day in 2026, within a nameplate capacity of 3,000 tons per day, and provides 2026 production guidance of 70,000 to 80,000 ounces of gold. Management positions this mine as its new flagship, intended to offset production lost from depleting mines.

Future performance will depend on completing arrangements with the Ministry of Energy and Mines to start full-scale production and commercialization, as well as on operational execution at higher throughput rates. Subsequent company disclosures may provide updates on ramp-up progress and realized production levels at San Gabriel.

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 December 2025

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)

AV. BEGONIAS NO. 415, 19TH FLOOR,

SAN ISIDRO, LIMA, 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  x           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  x

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  x

 

Buenaventura Produces Its First Dore Bar at San Gabriel

Lima, Peru, December 23, 2025 – 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, announced today that San Gabriel, its new gold operation located in Moquegua, has produced its first dore bar as part of the commissioning tests. This milestone was achieved in line with the planned timeline. The Company is progressing toward concluding the necessary arrangements with the Ministry of Energy and Mines to initiate full-scale production and commercialization.

As previously announced, San Gabriel is on track to reach a processing rate of 2,000 tons per day (TPD) in 2026, within a nameplate capacity of 3,000 TPD. Production guidance for 2026 is estimated at 70,000 to 80,000 ounces of gold. The start-up of operations at San Gabriel, Buenaventura’s new flagship, will enable the Company to replace production from depleting mines and position Buenaventura for significant growth in the coming years, creating long-term value through sustainable operations.

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 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.

 

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: December 23, 2025	By:	/s/ DANIEL DOMÍNGUEZ VERA
	Name:	Daniel Domínguez Vera
	Title:	Market Relations Officer

FAQ

What did Compañía de Minas Buenaventura (BVN) announce about the San Gabriel project?

Buenaventura announced that San Gabriel, its new gold operation in Moquegua, Peru, has produced its first dore bar as part of commissioning tests, in line with the planned timeline.

When is Buenaventuras San Gabriel mine expected to reach its target processing rate?

San Gabriel is on track to reach a processing rate of 2,000 tons per day in 2026, within a nameplate capacity of 3,000 tons per day.

What is the 2026 gold production guidance from San Gabriel for Buenaventura (BVN)?

For 2026, Buenaventura estimates that San Gabriel will produce 70,000 to 80,000 ounces of gold.

Why is the San Gabriel mine important to Buenaventuras long-term strategy?

The company describes San Gabriel as its new flagship operation, intended to replace production from depleting mines and position Buenaventura for significant growth and long-term value through sustainable operations.

What regulatory steps remain before San Gabriel can begin full-scale production?

Buenaventura states it is progressing toward concluding the necessary arrangements with the Ministry of Energy and Mines to initiate full-scale production and commercialization at San Gabriel.

What other operations does Compañía de Minas Buenaventura currently run in Peru?

Buenaventura operates several mines in Peru, including Orcopampa, Uchucchacua, Julcani, Tambomayo, La Zanja, El Brocal and Coimolache, and also holds a 19.58% stake in Sociedad Minera Cerro Verde.