Buenaventura Announces the First Doré Bar Produced at Tambomayo
December 30 2016 - 4:15PM
Business Wire
Compañía de Minas Buenaventura S.A.A. (“Buenaventura”)
(NYSE:BVN; Lima Stock Exchange:BUE.LM), Peru’s largest publicly
traded, precious metals mining company announced today that the
commissioning of the processing plant of the Tambomayo project
located in the district of Tapay, province of Caylloma (Arequipa)
was successfully completed in December. The ramp-up started
immediately obtaining the first doré bar on December 30.
The metallurgical process at Tambomayo consists of primary
crushing, grinding and cyanidation in tanks that later will be
processed on a Merrill-Crowe plant. The precipitate will be dried
and smelted obtaining doré-bars (gold and silver). The tailings of
the cyanidation process will enter into a flotation process to
obtain lead and zinc concentrates.
Project overview:
1. Reserves and resources: 2.6M MT, 700k Au Oz and 22.9M Ag
Oz
2. Plant Capacity: 1,500 MTD
3. Total CAPEX: USD 362M
4. Construction time of the mine and plant: 36 months
5. Estimated annual production: 140k – 160k Au ounces, 3.3M –
3.8M Ag ounces
6. Estimated commercial operation date: March – April 2017
Company Description
Compañía de Minas Buenaventura S.A.A. is Peru’s largest,
publicly traded precious metals Company and a major holder of
mining rights in Peru. The Company is engaged in the mining,
processing, development and exploration of gold and silver and
other metals via wholly owned mines, as well as through its
participation in joint exploration projects.
Buenaventura currently operates several mines in Peru
(Orcopampa*, Uchucchacua*, Mallay*, Julcani*, El Brocal, La Zanja
and Coimolache) and is developing the Tambomayo project.
The Company owns 43.65% of Minera Yanacocha S.R.L (a partnership
with Newmont Mining Corporation), an important precious metal
producer and 19.58% of Sociedad Minera Cerro Verde, an important
Peruvian copper producer.
(*) 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 the Company’s, Yanacocha’s and 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 the Company’s, Yanacocha’s and 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: http://www.businesswire.com/news/home/20161230005308/en/
In Lima:Carlos Galvez, 511-419-2540Chief Financial
OfficerorDaniel Dominguez, 511-419-2591Manager of Financial
Planning and Investor
Relationsdaniel.dominguez@buenaventura.peorRodrigo Echecopar,
511-419-2609Investor Relations
Coordinatorrodrigo.echecopar@buenaventura.peorIn New
York:i-advize Corporate CommunicationsMaria Barona - Rafael
Borja212-406-3691/3693
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