UNITED STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
6-K
REPORT OF
FOREIGN ISSUER
PURSUANT
TO RULE 13a-16 OR 15b-16 OF
THE
SECURITIES EXCHANGE ACT OF 1934
For the
month of
June,
2018
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.
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(Translation of registrant’s name into English)
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Republic of Peru
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(Jurisdiction of incorporation or organization)
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CARLOS VILLARAN 790
SANTA CATALINA, LIMA 13, PERU
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(Address of principal executive offices)
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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): [ ]
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):
[ ]
Indicate by
check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act
of 1934.
Yes ______
No ___X___
If "Yes" is
marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b): Not applicable.
Buenaventura
Announces Sumitomo Purchase of Five Percent Stake in Yanacocha
LIMA, Peru--(BUSINESS WIRE)--June 20, 2018--
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, today announced the purchase by Sumitomo
Corporation (“Sumitomo”) of a five percent stake in Minera Yanacocha
S.R.L. (“Yanacocha”). Under this transaction between Buenaventura,
Newmont and Sumitomo, Sumitomo takes the place of the International
Finance Corporation (“IFC”) as a five percent minority shareholder in
Yanacocha in exchange for approximately US$48 million.
“We are pleased to welcome Sumitomo as our new partner in Yanacocha and
look forward to leveraging Sumitomo’s extensive mining expertise and
commitment to high performance mining standards as we develop
Yanacocha’s upcoming projects,” said Victor Gobitz, Chief Executive
Officer of Buenaventura. He continued, “Newmont and Sumitomo share not
only our commitment to safe, profitable and responsible production
extension through the Quecher Main and Yanacocha Sulfides project, but
also the sustainable economic development of local communities.”
As a result of this transaction, Buenaventura’s total ownership in
Yanacocha will return to 43.65% and Newmont’s ownership will return to
51.35%, and Newmont will continue to operate Yanacocha. The transaction
is structured as a new share issuance to Sumitomo, with the payment
contributing to Yanacocha’s cash balances.
The Quecher Main project was approved in October 2017 and is expected to
extend Yanacocha’s oxide mine life to 2027. Quecher Main will also serve
as a bridge to future growth options, including the development of
Yanacocha’s extensive sulfide deposits. If approved, the sulfides
project could extend Yanacocha’s operational mine life through 2039.
Buenaventura also partners with Sumitomo at the Cerro Verde mine in Peru.
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*, Mallay*, Julcani*, Tambomayo*, El Brocal, La
Zanja and Coimolache).
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.
For a printed version of the Company’s 2017 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 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.
CONTACT:
For Compañia de Minas Buenaventura S.A.A.
In Lima:
Leandro
Garcia, (511) 419 2540
Chief Financial Officer
or
Rodrigo
Echecopar, (511) 419 2591
Investor Relations Coordinator
rodrigo.echecopar@buenaventura.pe
or
In
NY:
Barbara Cano, (646) 452 2334
barbara@inspirgroup.com
or
Company
Website:
www.buenaventura.com
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.
By: /s/ LEANDRO GARCÍA RAGGIO
Name: Leandro García Raggio
Title: Chief Financial Officer
Date: June 20, 2018
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