1. Decrease font
  2. Increase font
  3. Download PDF version
  4. Send a friend
  5. Click here to bookmark this page

    To choose your favorite sessions, please click here.

Summary Of Operations 2014

Summary Of Operations 2014

Table 1

DESCRIPTION UNIT ORCOPAMPA UCHUCCHACUA JULCANI *RECUPERADA MALLAY BREAPAMPA
ORE MINED DMT 454,694 1,013,633 167,750 6,632 148,058 2,264,111
ORE GRADES Ag. Oz./DMT 1.81 14.56 19.32 5.67 8.77 1.13
Au Oz./DMT 0.455   0.008   0.050
Cu %   0.18  
Pb. %   0.81 1.69 3.03 5.80
Zn. %   1.04   5.18 7.79
BULK CONCENTRATE (Ag-Pb-Cu-Au) DMT 6,102  
LEAD-SILVER CONCENTRATE DMT 50,463 310 16,372  
COPPER-SILVER CONCENTRATE DMT    
COPPER CONCENTRATE DMT
ZINC CONCENTRATE DMT 19,838   596 20,122
OUNCES OF SILVER Oz. 423,148 12,055,570 3,084,347 35,848 1,216,064 369,032
ONZAS OF SILVER (Retreatment of Tailings) Oz. 7,346
OUNCES OF GOLD Oz. 202,227   414   74,807
OUNCES OF GOLD (Retreatment of Tailings) Oz. 999
COPPER METAL FMT 275  
LEAD METAL FMT 7,605 2,619 185 7,513
ZINC METAL TMF 6,349   302 9,893
RECOVERY Ag % 51.44 81.67 95.16 95.40 93.68 14.47
RECOVERY Au % 97.72   31.06   67.28
RECOVERY Cu % 92.84  
RECOVERY Pb % 92.36 92.28 92.20 87.53
RECOVERY Zn % 60.33   87.8 85.74
CASH COST PER Oz.Ag. US$ 16.71 13.87   9.30
CASH COST PER Oz.Au. US$ 731   369
* Recovery of contingency wells (Cochas)
DESCRIPTION UNIT EL BROCAL CERRO VERDE YANACOCHA TANTAHUATAY LA ZANJA
Lead – Zinc Silver Copper Oxides Sulphurs
ORE MINED DMT 481,589 189,791 2,773,738 26,072,100 44,077,000 36,701,000 9,854,334 7,501,654
ORE GRADES Ag. Oz./TMS 1.920 6.405 0.841   0.356 0.280
Au Oz./TMS 0.010 0.042 0.018 0.027
Cu % 0.68 2.63 0.338 0.471
Pb. % 1.20 0.95  
Zn % 3.12 1.49
Mo % 0.021
CONCENTRATE OF (Ag-Pb-Cu-Au) DMT 8,025
LEAD-SILVER CONCENTRATE DMT 7,157    
COPPER-SILVER CONCENTRATE DMT      
COPPER CONCENTRATE DMT 163,620   710,360
ZINC CONCENTRATE DMT 19,750    
LEACHED COPPER DMT 59,349      
OUNCES OF SILVER Oz. 603,342 434,625 1,463,872 1,710,766 574,110 754,357 422,395
OUNCES OF GOLD Oz. 14,134 969,944 143,643 143,573
COPPER METAL TMF   43,282 56,610 170,296
MOLYBDENUM METAL TMF       4,688
LEAD METAL TMF 3,902 804
ZINC METAL TMF 10,704  
RECOVERY Ag % 65.25 35.67 62.36   21.52 19.00
RECOVERY Au % 56.50 82.70 79.37 66.40
RECOVERY Cu % 58.13 86.23 64.28 86.00
RECOVERY Mo %   51.20
RECOVERY Pb % 56.42 44.24
RECOVERY Zn % 67.06  
CASH COST PER Oz.Au. US $   323 544
CASH COST PER MT Zn US $  
CASH COST PER MT Cu US $   3,303

Reserves as of December 31, 2014

Table 2

PROVEN AND PROBABLE RESERVES

GOLD
BVN % Share DMT (000) Oz / DMT Ounces (000) BVN Ounces (000)
Orcopampa 100.00 631 0.509 321 321
Tambomayo 100.00 877 0.286 251 251
Breapampa 100.00 520 0.014 8 8
Breapampa (in Pads and Plant) 100.00     11 11
Julcani 100.00 310 0.015 5 5
Mallay 100.00 122 0.035 4 4
El Brocal (Marcapunta Sulfides) 54.07 21,991 0.013 276 149
La Zanja 53.06 9,917 0.023 223 119
La Zanja (in Pads and Plant) 53.06     21 11
Yanacocha 43.65     4,9 2,139
Yanacocha  (Conga) 43.65 536,015 0.023 12,582 5,492
Tantahuatay 40.10 57,330 0.015 840 337
Tantahuatay (in Pads and Plant) 40.10     10 4
Total Gold Reserves     19,452 8,850
 
SILVER
BVN % Share DMT (000) Oz / DMT Ounces (000) BVN Ounces (000)
Uchucchacua (Silver – Sulfides) 100.00 3,884 15.770 61,238 61,238
Uchucchacua (Silver – Oxides) 100.00 209 21.050 4,393 4,393
Uchucchacua (Zinc – Sulfides) 100.00 79 7.430 584 584
Tambomayo 100.00 877 10.720 9,403 9,403
Julcani 100.00 310 20.300 6,295 6,295
Mallay 100.00 122 13.477 1,642 1,642
Orcopampa 100.00 631 1.746 1,102 1,102
Breapampa 100.00 520 0.552 287 287
Breapampa (in Pads and Plant) 100.00     90 90
El Brocal (Tajo Norte – La Llave) 54.07 43,622 0.900 39,260 21,228
El Brocal (Marcapunta Sulfides) 54.07 21,991 0.600 13,194 7,134
La Zanja 53.06 9,917 0.137 1,357 720
La Zanja (in Pads and Plant) 53.06     855 454
Yanacocha 43.65     66.900 29,202
Yanacocha (Conga) 43.65 536,015 0.070 37,784 16,493
Tantahuatay 40.10 57,330 0.340 19,505 7.820
Tantahuatay (in Pads and Plant) 40.10     49 20
Cerro Verde (Sulfides) 19.58 3,953,234 0.048 187,827 36,777
Cerro Verde (Oxides) 19.58 610,019 0.010 6,039 1,182
Total Silver Reserves     457,804 206,063
 
ZINC
BVN % Share DMT (000) % Zn DMT (000) BVN DMT (000)
Uchucchacua (Silver – Sulfides) 100.00 3,884 1.49 58 58
Uchucchacua (Zinc – Sulfides) 100.00 79 6.35 5 5
Tambomayo 100.00 877 2.46 22 22
Mallay 100.00 122 7.68 9 9
El Brocal (Tajo Norte – La Llave) 54.07 43,622 2.53 1,104 597
Total Zinc Reserves 48,584 2.465 1,197 690
 
LEAD
BVN % Share DMT (000) % Pb DMT (000) BVN DMT (000)
Uchucchacua  (Plata – Sulfides) 100.00 3,884 1.09 42 42
Uchucchacua  (Zinc – Sulfides) 100.00 79 5.05 4 4
Tambomayo 100.00 877 1.71 15 15
Mallay 100.00 122 6.95 8 8
Julcani 100.00 310 2.17 7 7
El Brocal (Tajo Norte – La Llave) 54.07 43,622 0.86 375 203
Total Lead Reserves   48,894 0.924 452 279
 
COPPER
BVN % Share DMT (000) % Cu DMT (000) BVN DMT (000)
Julcani 100.00 310 0.52 2 2
El Brocal (Marcapunta Sulfides) 54.07 21,991 2.26 497 269
Yanacocha (Conga) 43.65 536,015 0.28 1,501 655
Cerro Verde (Sulfides) 19.58 3,953,234 0.37 14,627 2,864
Cerro Verde (Oxides) 19.58 610,019 0.48 2,928 573
Total Copper Reserves 5,121,569 0.382 19,555 4,363
 
MOLYBDENUM
BVN % Share DMT (000) % Mo DMT (000) BVN DMT (000)
Cerro Verde (Sulfides) 19.58 3,953,234 0.014 553 108
Cerro Verde (Oxides) 19.58 610,019 0.003 18 4
Total Molybdenum Reserves 4,563,253 0.013 572 112
 
Prices used in the calculation of reserves:
Gold 1,250 US$/Oz – Silver 20 US$/Oz – Zinc 2,200 US$/TM – Lead 2,100 US$/TM – Copper 6,630 US$/TM

Reserves as of December 31, 2013

Table 3

PROVEN AND PROBABLE RESERVES

GOLD
BVN % Share Ounces (000) Ounces (000) DMT (000) Oz / MT
Orcopampa 100.00 634 0.527 334 334
Breapampa 100.00 2,279 0.042 96 96
Poracota 100.00 108 0.343 37 37
Antapite 100.00 37 0.335 13 13
Julcani 100.00 373 0.018 7 7
Mallay 100.00 123 0.042 5 5
Shila – Paula 100.00 13 0.351 4 4
El Brocal Marcapunta  (Sulphurs) 54.07 16,421 0.011 180 97
La Zanja 53.06 14,248 0.023 333 177
La Zanja (in Pads and Plant) 53.06     27 14
Yanacocha 43.65 199,184 0.032 5,751 2,510
Yanacocha  (Conga) 43.65 536,015 0.023 12,582 5,492
Tantahuatay (Oxides) 40.10 51,955 0.014 735 295
Total Gold Reserves     20,104 9,081
 
SILVER
BVN % Share DMT (000) Oz / DMT Ounces (000) BVN
Uchucchacua (Silver – Sulphurs) 100.00 3,485 16.854 58,738 58,738
Uchucchacua (Zinc – Sulphurs) 100.00 65 7.496 486 486
Uchucchacua (Silver – Oxides) 100.00 287 19.742 5,660 5,660
Julcani 100.00 373 20.249 7,555 7,555
Breapampa 100.00 2,279 0.823 1,876 1,876
Mallay 100.00 123 12.632 1,562 1,562
Orcopampa 100.00 634 1.389 881 881
Recuperada 100.00 64 9.899 630 630
Shila – Paula 100.00 13 0.694 9 9
Poracota 100.00 108 0.024 3 3
El Brocal (Tajo Norte – La Llave) 54.07 56,111 0.830 46,572 25,182
El Brocal (Marcapunta Sulphurs) 54.07 16,421 0.530 8,703 4,706
La Zanja 53.06 14,248 0.201 2,869 1,522
La Zanja (in Pads and Plant) 53.06 919 488
Yanacocha 43.65 292,435 0.254 75,590 32,995
Yanacocha (Conga) 43.65 536,015 0.066 37,784 16,493
Tantahuatay Oxides 40.10 51,955 0.346 18,035 7,231
Cerro Verde (Sulphurs) 19.58 4,047,372 0.047 192,860 37,762
Cerro Verde (Oxides) 19.58 563,840 0.010 5,430 1,063
Total Silver Reserves     466,163 204,841
 
ZINC
BVN % Share DMT (000) % Zn DMT (000) BVN DMT (000)
Uchucchacua (Silver – Sulphurs) 100.00 3,485 1.42 49 49
Uchucchacua (Zinc – Sulphurs) 100.00 65 6.60 4 4
Mallay 100.00 123 8.47 10 10
Recuperada 100.00 64 6.49 4 4
El Brocal (Tajo Norte – La Llave) 54.07 56,111 2.38 1,335 722
Total Zinc Reserves 59,848 2.345 1,404 790
 
LEAD
BVN % Share DMT (000) % Pb DMT (000) BVN DMT (000)
Uchucchacua (Silver – Sulphurs) 100.00 3,485 1.05 37 37
Uchucchacua (Zinc – Sulphurs) 100.00 65 5.10 3 3
Julcani 100.00 373 2.27 8 8
Mallay 100.00 123 6.64 8 8
Recuperada 100.00 64 3.55 2 2
El Brocal (Tajo Norte – La Llave) 54.07 56,111 0.78 438 237
Total Lead Reserves   60,221 0.824 496 295
 
COPPER
BVN % Share DMT (000) % Cu DMT (000) BNV DMT (000)
Julcani 100.00 373 0.44 2 2
El Brocal (Marcapunta Sulphurs) 54.07 16,421 1.99 327 177
Yanacocha (Conga) 43.65 536,015 0.28 1,501 655
Cerro Verde (Sulphurs) 19.58 4,047,372 0.37 14,975 2,932
Cerro Verde (Oxides) 19.58 563,840 0.49 2,763 541
Total Copper Reserves 5,164,022 0.379 19,567 4,307
 
MOLYBDENUM
BVN % Share DMT (000) % Mo DMT (000) BNV DMT (000)
Cerro Verde (Sulphurs) 19.58 4,047,372 0.014 567 111
Cerro Verde (Oxides) 19.58 563,840 0.003 17 3
Total Molybdenum Reserves 4,611,213 0.013 584 114
 
Prices used in the calculation of reserves:
Gold 1,200 US$/Oz – Silver 20US$/Oz – Zinc 1,900 US$/MT – Lead 2,050 US$/MT – Copper 6,600 US$/MT

Resources as of December 2014

Resources
GOLD
BVN % Share DMT (000) Oz / DMT Ounces (000) Ounces (000)
San Gabriel 100.00 12,247 0.207 2,539 2,539
Tambomayo 100.00 793 0.424 336 336
Orcopampa 100.00 198 0.505 100 100
Breapampa 100.00 2,184 0.018 40 40
Mallay 100.00 105 0.056 6 6
Julcani 100.00 223 0.008 2 2
El Brocal Marcapunta Oeste (Oxides) 54.07 75,680 0.019 1,46 789
El Brocal Marcapunta Norte (Sulphurs) 54.07 33,200 0.014 459 248
La Zanja 53.06 12,853 0.022 278 147
Alejandra (La Zanja) 53.06 295 0.648 191 102
Yanacocha 43.65     6,552 2,860
Yanacocha (Conga) 43.65 388,268 0.012 4,880 2,130
Tantahuatay (Oxides) 40.10 58,433 0.011 671 269
Tantahuatay (Sulphurs) 40.10 149,727 0.009 1,349 541
Total Gold Resources     18,862 10,109
 
SILVER
BVN % Share DMT (000) Oz / DMT Ounces (000) Ounces (000)
Uchucchacua (Silver- Sulphurs) 100.00 3,196 16.09 51,415 51,415
Uchucchacua (Zinc – Sulphurs) 100.00 178 5.99 1,065 1,065
Uchucchacua (Silver – Oxides) 100.00 119 21.83 2,593  2,593 
Yumpag (Uchucchacua) 100.00 356 27.80 9,894 9,894
Tambomayo 100.00 793 7.51 5,956 5,956
Julcani 100.00 223 20.64 4,609 4,609
San Gabriel 100.00 12,247 0.26 3,233 3,233
Mallay 100.00 105 12.95 1,355 1,355
Orcopampa 100.00 198 5.95 1,176 1,176
Breapampa 100.00 2,184 0.14 306 306
El Brocal (San Gregorio) 54.07 79,934 0.31 24,62 13,312
El Brocal Tajo Norte 54.07 26,563 0.45 11,954 6,463
El Brocal (Marcapunta Sulphurs) 54.07 33,2 0.67 22,244 12,027
La  Zanja 53.06 12,853 0.14 1,77 939
Alejandra (La Zanja) 53.06 295 3.99 1,179 626
Yanacocha (Conga) 43.65 332,789 0.04 14,461 6,312
Tantahuatay – Oxides 40.10 58,433 0.09 5,393 2,162
Tantahuatay – Sulphurs 40.10 149,727 0.14 21,198 8,499
Total Silver Resources     184,421 131,943
 
ZINC
BVN % Share DMT (000) % Zn DMT (000) BVN DMT (000)
Uchucchacua (Silver- Sulphurs) 100.00 3,196 1.52 49 49
Uchucchacua (Zinc – Sulphurs) 100.00 178 7.35 13 13
Yumpag (Uchucchacua) 100.00 356 2.00 7 7
Tambomayo 100.00 793 4.68 37 37
Mallay 100.00 105 6.91 7 7
El Brocal (San Gregorio) 54.07 79,934 5.22 4,175 2,257
El Brocal (Tajo Norte) 54.07 26,563 1.65 4,726 237
Total Zinc Resources 111,125 4.25 4,726 2,608
 
LEAD
BVN % Share DMT (000) % Pb DMT (000) BVN DMT (000)
Uchucchacua (Silver- Sulphurs) 100.00 3,196 1.22 39 39
Uchucchacua (Zinc – Sulphurs) 100.00 178 6.05 11 11
Yumpag 100.00 584 0.31 2 2
Tambomayo 100.00 793 2.54 20 20
Mallay 100.00 105 6.01 6 6
Julcani 100.00 223 2.01 4 4
El Brocal (San Gregorio ) 54.07 79,934 1.53 1,221 660
El Brocal (Tajo Norte) 54.07 26,563 0.47 125 68
Total Lead Resources 111,576 1.28 1,429 810
 
COPPER
BVN % Share DMT (000) % Cu Ounces (000) BVN Ounces (000)
Trapiche 100.00 925.000 0.39 3,608 3,608
San Gabriel 100.00 12,247 0.06 7 7
Julcani 100.00 223 0.37 1 1
El Brocal (Marcapunta Norte) Sulphurs 54.07 33.200 1.56 518 280
El Brocal (Marcapunta Oeste) Sulphurs 54.07 75,680 1.25 946 512
Yanacocha (Conga) 44.35 388,268 % Cu 738 327
Tantahuatay (Sulphurs) 40.10 149.727 0.72 1,078 432
Total Copper Resources   1,584,346 0.44 6,896 5,167

Statistical Information of Operations

Table 5

  TOTAL PRODUCTION PRODUCTION ATTRIBUTED TO BVN
Unit % Ag Au Pb Zn Cu Ag Au Pb Zn Cu
Share Oz Oz DMT DMT DMT Oz Oz DMT DMT DMT
Orcopampa 100% 430,494 203,226   430,494 203,226
Poracota 100% 973 1.420     973 1.420  
Uchucchacua 100% 12,055,570 7,605 6,349 12,055,570 7,605 6,349
Julcani 100% 3,084,347 414 2,619 275 3,084,347 414 2,619 275
Recuperada 100% 35,848 185 302 35,848 185 302
Antapite 100% 2,631 852   2,631 852  
Breampampa 100% 369,033 74,807 369,033 74,807
Mallay 100% 1,216,034 7,513 9,893 1,216,034 7,513 9,893
El Brocal 54.07% 2,501,839 14,134 4,263 10,162 43,282 1,352,744 7,642 2,305 5,495 23,403
La Zanja 53.06% 422,395 143,573 224,123 76.180
Tantahuatay 40.10% 754,357 143,643     302,459 57,594      
Yanacocha 43.65% 574.110 969,944 250,599 423,381
Cerro Verde 19.58% 1,710,767 226,906 334,968   44,428
Total Content 23,158,398 1,552,013 22,185 26,706 270,463 19,659,824 845,515 20,227 22,039 68,106

Personnel as of December 31, 2014

UNITS COMPANY
MANAGEMENT EXECUTIVES EMPLOYEES EMP. MINE LABORERS MINA TOTAL COMPANY CONTRACTS GRAND TOTAL
Julcani 1 41 19 45 98 204 906 1,110
Recuperada 0 6 2 3 4 15 64 79
Orcopampa 2 86 27 120 396 631 2,002 2,633
Uchucchacua 1 82 33 149 294 559 1,958 2,517
Mallay 1 36 7 31 67 142 695 837
Breapampa 0 23 5 23 15 66 160 226
Antapite 1 9 1 8 20 39 45 84
Poracota 1 2 0 2 7 12 19 31
Tambomayo 1 41 8 15 40 105 825 930
Shila Paula 1 2 0 4 0 7 37 44
Arequipa 0 2 0 0 1 3 0 3
Chucapaca 1 12 1 0 1 15 0 15
LIMA (Projects) 1 18 26 0 13 58 67 125
LIMA 22 132 160 0 0 314 121 435
TOTAL BUENAVENTURA  33 492 289 400 956 2,17 6,899 9,069
LA ZANJA 1 78 3 65 86 233 1,713 1,946
CONENHUA 2 24 93 0 43 162 51 213
MOLLE VERDE 0 19 4 7 6 36 55 91
RIO SECO 1 16 1 44 6 68 89 157
EL BROCAL 8 143 54 26 249 480 2,023 2,503
COIMOLACHE 1 64 13 63 35 176 1,604 1,780
GRAND TOTAL 46 836 457 605 1,381 3,325 12,434 15,759
Variation Of Number Of Employees
Unit 2014 2013 2012
Julcani 204 197 191
Recuperada 15 144 175
Orcopampa 631 644 608
Uchucchacua 559 580 615
Antapite 39 148 242
Poracota 12 58 62
Mallay 142 129 164
Lima 372 482 449
Shila – Paula 10 22 318
Chucapaca 15 0 0
Breapampa 66 145 89
Molle Verde 36 0 0
Rio Seco 68 0 0
La Zanja 233 182 236
Conenhua 162 325 430
Brocal 480 451 456
Coimolache 176 221 184
Tambomayo 105 85 0
Total 3,325 3,813 4,219
Price of Metals Sold
2014 2013
Gold (US$/Oz) 1,264 1,392
Silver (US$/Oz) 19 22
Lead (US$/MT) 2,107 2,105
Zinc (US$/MT) 2,244 1,869
Copper (US$/MT) 6,738 7,179
Volumes of Metals Sold
2014 2013
Gold (Oz) 439,093 458,499
Silver (Oz) 19,088,923 16,329,314
Lead (Oz) 18,820 26,584
Zinc (Oz) 21,231 38,084
Copper (Oz) 40,263 25,406

Performance of the stocks and ADS’s 2014

Table 6

PRICE ADS US$ 2014

MONTH OPENING CLOSING MAXIMUM MINIMUM AVERAGE
US$ S/. US$ S/. US$ S/. US$ S/. US$ S/.
JANUARY 11.41 31.95 12.40 34.97 13.50 37.94 11.08 31.02 12.40 34.84
FEBRUARY 12.48 35.19 12.60 35.28 13.60 38.08 11.08 31.25 12.62 35.46
MARCH 12.98 36.34 12.57 25.20 14.12 39.54 11.96 33.61 12.57 35.20
APRIL 12.61 35.31 13.00 36.40 13.88 38.59 12.31 34.10 13.00 36.27
MAY 12.65 35.42 10.69 29.50 12.65 35.42 10.00 27.60 10.69 29.72
JUNE 10.62 29.42 11.81 32.95 11.83 33.01 9.75 27.20 11.82 32.98
JULY 11.82 32.98 11.71 32.67 12.19 33.89 10.71 29.77 11.70 32.53
AUGUST 11.78 32.87 14.56 41.35 14.82 42.09 11.51 32.34 14.57 40.94
SEPTEMBER 14.25 40.61 11.58 33.47 14.37 40.95 11.53 33.32 11.59 33.15
OCTOBER 11.58 33.47 9.20 26.86 12.28 35.61 9.04 26.40 9.20 26.68
NOVEMBER 9.24 26.98 9.25 27.01 10.35 30.12 8.64 25.32 9.25 27.01
DECEMBER 9.50 27.74 9.56 28.49 10.91 32.29 8.90 26.34 9.57 28.33

Price of Shares 2014

BUENAVENTURA COMMON (S/.)
MONTH OPENING CLOSING MAXIMUM MINIMUM AVERAGE
JANUARY 32.00 35.00 37.20 31.45 33.32
FEBRUARY 33.62 35.10 39.00 31.80 34.17
MARCH 36.92 35.02 38.75 33.70 35.32
APRIL 38.00 34.50 38.00 34.50 35.61
MAY 32.00 29.00 32.00 29.00 30.79
JUNE 28.11 31.70 31.70 28.11 29.14
JULY 32.85 32.40 33.02 29.40 31.38
AUGUST 33.32 39.51 39.51 33.32 35.69
SEPTEMBER 39.30 34.00 39.80 34.00 36.92
OCTOBER 33.97 33.40 34.00 33.40 33.70
NOVEMBER 0.00 0.00 0.00 0.00 0.00
DECEMBER 29.60 31.55 31.55 29.40 30.96
BUENAVENTURA INVESTMENT (S/.)
MONTH OPENING CLOSING MAXIMUM MINIMUM AVERAGE
JANUARY
FEBRUARY
MARCH 26.00 26.00 26.00 26.00 26.00
APRIL
MAY
JUNE
JULY
AUGUST
SEPTEMBER
OCTOBER
NOVEMBER
DECEMBER
Back Top
×