Buenaventura exceeds projections and expects a strong year-end closure.

The Buenaventura Mining Company (Buenaventura) has recently announced its operational results for the first half of the year 2024, revealing a solid performance and surpassing initial projections in several of its key mines. During this period, total production, including associated operations, reached significant figures: 78,405 ounces of gold, 6,687,504 ounces of silver, 9,570 tons of lead, 15,165 tons of zinc, and 25,565 tons of copper. These results have led Buenaventura to revise upwards its production estimates for the current year-end, especially regarding silver and lead. In the case of silver, production is now projected to be between 14 and 15.4 million ounces, compared to the previous range of 13 to 14.6 million ounces. Likewise, for lead, a production of between 17,400 and 20,000 tons is expected, compared to previous estimates ranging from 6,300 to 18,700 tons. As for gold, production for the year 2024 is estimated to be between 131,500 and 146,700 ounces, while zinc is expected to reach 26,900 tons and copper to reach a level between 55,000 and 60,000 tons. These figures reflect a promising outlook for Buenaventura and confirm the company's strong performance in a context of recovering metal prices. Among Buenaventura's mining units, the positive results of the Yumpag mine in Pasco stand out, with silver production exceeding expectations thanks to an early start of mineral processing in March 2024. It is expected that by the end of the year, production will reach between 7.5 and 8 million ounces, a figure higher than initially projected. On the other hand, the Coimolache mine in Cajamarca continues in line with gold production forecasts and has received approval to increase the capacity of its leaching plant, which will boost its performance in the future. In the case of the Uchucchacua mine in Lima, lead and zinc production has exceeded expectations due to a positive reconciliation of the ore grade, while silver production has remained in line with projections. These positive results in various mining units of Buenaventura confirm the company's strength and potential in a favorable environment for the mining industry. In summary, Buenaventura is in a strong position to close the year 2024 with promising results, thanks to the improvement in production projections in several of its key mines and overall good operational performance. The company continues to focus on efficiency and sustainability in its mining operations, allowing it to seize the opportunities offered by the current metal market. With a focus on operational excellence and compliance with environmental standards, Buenaventura consolidates its position as a relevant player in the Peruvian mining industry and projects a promising future in the sector.