Buenaventura posts Q3 2025 output and pricing; guidance detailed
Rhea-AI Filing Summary
Compañía de Minas Buenaventura (BVN)
In 3Q25, total direct operations produced 30,894 gold ounces, 4,278,658 silver ounces, 4,874 metric tons of lead, 6,989 metric tons of zinc, and 12,770 metric tons of copper. Average realized prices for the quarter were
Updated 2025 guidance for total direct operations stands at 112.0k–128.0k gold ounces, 14.2M–15.5M silver ounces, 17.2k–19.8k metric tons of lead, 25.7k–29.3k metric tons of zinc, and 53.0k–55.0k metric tons of copper. Mine-level highlights include Yumpag silver production of 2,312,100 ounces and El Brocal copper production of 12,621 metric tons in the quarter.
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Insights
Quarter shows solid volumes and pricing; guidance reiterated.
Buenaventura disclosed detailed 3Q25 operating data: total direct operations produced 30,894 oz gold, 4,278,658 oz silver, 4,874 MT lead, 6,989 MT zinc, and 12,770 MT copper. Realized prices were strong for gold at
Updated 2025 guidance brackets remain explicit: gold 112.0k–128.0k oz, silver 14.2M–15.5M oz, lead 17.2k–19.8k MT, zinc 25.7k–29.3k MT, and copper 53.0k–55.0k MT. Mine contributions such as Yumpag silver (2,312,100 oz) and El Brocal copper (12,621 MT) underpin quarterly output.
The data is operational and informational in nature, without financials or comparative trends in the excerpt. Investment impact depends on future disclosures of costs, grades, and any changes to guidance.
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 October 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 Announces Third Quarter 2025 Results for Production and Volume Sold per Metal
Lima, Peru, October 16, 2025 – 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 3Q25 results for production and volume sold.
Production per Metal
| Three
Months Ended September 30, 2025 | Nine
Months Ended September 30, 2025 | 2025
Updated Guidance (1) | ||||||||||||||
| Gold ounces produced | ||||||||||||||||
| El Brocal | 61.43 | % | 5,032 | 15,240 | 20.0k - 22.0k | |||||||||||
| Orcopampa | 100 | % | 13,314 | 39,878 | 53.0k - 55.0k | |||||||||||
| Tambomayo | 100 | % | 4,954 | 10,973 | 12.5k - 15.5k | |||||||||||
| Julcani | 100 | % | 2,452 | 6,416 | 7.5k - 9.5k | |||||||||||
| La Zanja | 100 | % | 5,143 | 13,648 | 18.0k - 21.0k | |||||||||||
| San Gabriel (4) | 100 | % | 0 | 0 | 1.0k - 5.0k | |||||||||||
| Total Direct Operations (2) | 30,894 | 86,155 | 112.0k - 128.0k | |||||||||||||
| Coimolache | 40.094 | % | 14,958 | 41,450 | 55.0k - 60.0k | |||||||||||
| Total incl. Associated (3) | 34,950 | 96,896 | 126.3k - 143.6k | |||||||||||||
| Silver ounces produced | ||||||||||||||||
| El Brocal | 61.43 | % | 615,004 | 1,443,222 | 1.7M - 1.9M | |||||||||||
| Uchucchacua | 100 | % | 585,095 | 1,548,887 | 2.0M - 2.3M | |||||||||||
| Yumpag | 100 | % | 2,312,100 | 6,742,691 | 8.3M - 8.6M | |||||||||||
| Orcopampa | 100 | % | 3,827 | 15,462 | - | |||||||||||
| Tambomayo | 100 | % | 380,818 | 733,392 | 0.9M - 1.2M | |||||||||||
| Julcani | 100 | % | 366,120 | 1,005,561 | 1.3M - 1.5M | |||||||||||
| La Zanja | 100 | % | 15,694 | 31,575 | - | |||||||||||
| Total Direct Operations (2) | 4,278,658 | 11,520,791 | 14.2M - 15.5M | |||||||||||||
| Coimolache | 40.094 | % | 68,362 | 236,850 | 0.2M - 0.3M | |||||||||||
| Total incl. Associated (3) | 4,068,860 | 11,059,102 | 13.6M - 14.9M | |||||||||||||
| Lead metric tons produced | ||||||||||||||||
| Uchucchacua | 100 | % | 4,055 | 10,752 | 14.0k - 16.0k | |||||||||||
| Tambomayo | 100 | % | 626 | 1,895 | 2.4k - 2.8k | |||||||||||
| Julcani | 100 | % | 193 | 474 | 0.8k - 1.0k | |||||||||||
| Total Direct Operations (2) | 4,874 | 13,121 | 17.2k - 19.8k | |||||||||||||
| Zinc metric tons produced | ||||||||||||||||
| Uchucchacua | 100 | % | 6,395 | 18,539 | 23.0k - 26.0k | |||||||||||
| Tambomayo | 100 | % | 594 | 2,000 | 2.7k - 3.3k | |||||||||||
| Total Direct Operations (2) | 6,989 | 20,538 | 25.7k - 29.3k | |||||||||||||
| Copper metric tons produced | ||||||||||||||||
| El Brocal | 61.43 | % | 12,621 | 37,763 | 53.0k - 55.0k | |||||||||||
| Julcani | 100 | % | 126 | 347 | - | |||||||||||
| Tambomayo | 100 | % | 23 | 52 | - | |||||||||||
| Total Direct Operations (2) | 12,770 | 38,162 | 53.0k - 55.0k | |||||||||||||
| 1. | 2025 projections are considered to be forward-looking statements and represent management’s good faith estimates or expectations of future production results as of October 2025. |
| 2. | Considers 100% of Buenaventura’s operating units, 100% of La Zanja and 100% of El Brocal. |
| 3. | Considers 100% of Buenaventura’s operating units, 100% of La Zanja, 61.43% of El Brocal and 40.094% of Coimolache. |
| 4. | 4Q25
targeted production initiation remains unchanged, subject to final permitting and required
approvals. |
1
Volume Sold per Metal
| Three
Months Ended September 30, 2025 | Nine
Months Ended September 30, 2025 | |||||||
| Gold ounces sold | ||||||||
| El Brocal | 2,555 | 8,468 | ||||||
| Orcopampa | 13,776 | 40,680 | ||||||
| Tambomayo | 4,564 | 9,849 | ||||||
| Julcani | 2,232 | 5,788 | ||||||
| La Zanja | 4,910 | 13,877 | ||||||
| Total Direct Operations (1) | 28,038 | 78,661 | ||||||
| Coimolache | 13,433 | 38,302 | ||||||
| Total incl. Associated (2) | 32,438 | 90,752 | ||||||
| Silver ounces sold | ||||||||
| El Brocal | 513,067 | 1,182,210 | ||||||
| Uchucchacua | 730,351 | 1,787,830 | ||||||
| Yumpag | 2,130,120 | 6,374,330 | ||||||
| Orcopampa | 4,203 | 17,611 | ||||||
| Tambomayo | 347,563 | 663,409 | ||||||
| Julcani | 354,445 | 957,142 | ||||||
| La Zanja | 21,775 | 68,177 | ||||||
| Buenaventura Trading (3) | 20,108 | 59,559 | ||||||
| Total Direct Operations (1) | 4,121,632 | 11,110,268 | ||||||
| Coimolache | 61,683 | 223,473 | ||||||
| Total incl. Associated (2) | 3,948,473 | 10,743,889 | ||||||
| Lead metric tons sold | ||||||||
| Uchucchacua | 3,875 | 10,293 | ||||||
| Yumpag | 64 | 133 | ||||||
| Tambomayo | 469 | 1,489 | ||||||
| Julcani | 178 | 425 | ||||||
| Total Direct Operations (1) | 4,586 | 12,341 | ||||||
| Zinc metric tons sold | ||||||||
| Uchucchacua | 5,563 | 15,754 | ||||||
| Tambomayo | 409 | 1,513 | ||||||
| Total Direct Operations (1) | 5,973 | 17,266 | ||||||
| Copper metric tons sold | ||||||||
| El Brocal | 11,813 | 35,577 | ||||||
| Tambomayo | 104 | 283 | ||||||
| Julcani | 16 | 37 | ||||||
| Buenaventura Trading (3) | 2,289 | 6,584 | ||||||
| Total Direct Operations (1) | 14,223 | 42,481 | ||||||
| 1. | Considers 100% of Buenaventura’s operating units, 100% of La Zanja, 100% of El Brocal and 100% of Buenaventura Trading. |
| 2. | 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. |
| 3. | 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 by Buenaventura Trading. |
2
Average realized prices(1)(2)
| Three
Months Ended September 30, 2025 | Nine
Months Ended September 30, 2025 | |||||||
| Gold (US$/Oz) | 3,594 | 3,287 | ||||||
| Silver (US$/Oz) | 40.81 | 36.08 | ||||||
| Lead (US$/MT) | 1,903 | 1,892 | ||||||
| Zinc (US$/MT) | 2,811 | 2,710 | ||||||
| Copper (US$/MT) | 9,989 | 9,632 | ||||||
| 1. | Considers Buenaventura consolidated figures. |
| 2. | Realized prices include both provisional sales and final adjustments for price changes. |
Commentary on Operations
Tambomayo:
| · | 3Q25 gold and silver production was in line with expectations. High-grade oxide ore processing successfully began, as was reported in 2Q25. However, the 2025 production plan has been updated, with part of the high-grade ore initially planned for 2025 production to now be processed in 2026. A higher volume of lead and zinc will be produced in 2025. |
| · | 2025 silver, lead and zinc production guidance has been updated accordingly. 2025 gold guidance remains unchanged. |
Orcopampa:
| · | 3Q25 gold and silver production was in line with expectations. However, 2025 gold production guidance has been revised, as a higher volume of ore will be processed in 4Q25 as compared to the initial plan. |
Coimolache:
| · | Gold and silver production exceeded expectations for 3Q25, as full capacity mine and leach pad production began in early September 2025 due to earlier than expected operating permit approval which was initially expected in late September 2025. |
| · | 2025 gold production guidance has therefore been revised. 2025 silver guidance remains unchanged. |
Julcani:
| · | Gold and copper production at the Julcani mine is gradually increasing as the operation transitions to mining zones richer in these metals, partially offsetting decreased production from the Achilla zone which has historically produced lead and silver. |
| · | 2025 gold and lead guidance remains unchanged; silver guidance has been revised. |
3
Uchucchacua:
| · | 3Q25 silver production was in line with expectations, reflecting the revised mine plan the Company initiated in 2Q25. Mining activities during 3Q25 remained focused on polymetallic stopes, a strategic decision that supports ongoing water pumping and ancillary works but which shifts targeted mining to polymetallic stopes, from the prior target of mining bottom-level stopes with higher silver content. Water pumping activities were completed during 3Q25, and ancillary works are expected to conclude in 4Q25. This enables the team to begin to backfilling the mine’s bottom zones with tailings slurry during 4Q25, and access to higher silver-grade areas will be achievable in 2026 as part of the full year mine plan. This process is intended to reduce voids in previously mined areas at the bottom of the mine, enhancing their structural stability and conditioning nearby zones for future operations. These works are expected to be completed by 2Q26. |
| · | 2025 silver and lead production guidance has been updated accordingly. 2025 zinc guidance remains unchanged. |
Yumpag:
| · | Silver production exceeded 3Q25 projections due to higher grades mined during the quarter. This improvement reflects the continued application of the Over-Drift-Fill (ODF) mining method which provides high ore recovery with enhanced selectivity while reducing surface subsidence and the amount of surface tailings, a mining approach that the Company began implementing in 2Q25. |
| · | 2025 production guidance has been updated accordingly. |
El Brocal:
| · | Silver and gold production outperformed expectations in 3Q25, reflecting the Company’s short-term strategy of prioritizing the processing of stockpiles with high precious metals content. During the quarter, the Company processed lead-silver ore previously classified as low grade, which was re-evaluated based on current market conditions and incorporated into the production plan. This material had significant silver content and copper ore throughput was therefore reduced, resulting in a slight decrease in copper production volumes for the quarter. |
| · | 2025 production guidance has been updated accordingly. |
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.
4
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: October 16, 2025 | By: | /s/ DANIEL DOMÍNGUEZ VERA |
| Name: | Daniel Domínguez Vera | |
| Title: | Market Relations Officer | |
FAQ
What were BVN's total direct operations production in Q3 2025?
What average realized prices did BVN report for Q3 2025?
What is BVN's 2025 production guidance for direct operations?
Which BVN mines stood out in Q3 2025?
What were BVN's gold and silver volumes sold in Q3 2025?
Does BVN include associated operations in reported totals?
