Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE AC ...

FORM 6-K Commission File Number 001-14370 CARLOS VILLARAN 790 SANTA CATALINA, LIMA 13, PERU (Address of principal executive offices) UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 For the month of April 2023 BUENAVENTURA MINING COMPANY INC. (Translation of registrant's name into English) Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F. Form 20-F ____X___ Form 40-F _______ Indicate by check mark if the registrant is s ...

Compañía de Minas Buenaventura S.A.A. (NYSE:BVN) Q1 2023 Earnings Conference Call April 28, 2023 11:00 AM ET Company Participants Gabriel Salas - Investor Relations Leandro Garcia - Chief Executive Officer Daniel Dominguez - Chief Financial Officer Juan Carlos Ortiz - Vice President of Operations Renzo Macher - Vice President of Projects Alejandro Hermoza - Vice President of Sustainability Conference Call Participants Carlos De Alba - Morgan Stanley Tanya Jakusconek - Scotiabank Operator Good day, ladies an ...

Financial Data and Key Metrics Changes - Full year 2022 net income was $602.9 million compared to a net loss of $262.8 million for the full year 2021 [6] - Fourth quarter 2022 net income reached $69 million, in contrast to a net loss of $22 million during the same period in 2021 [8] - Total revenues for the fourth quarter were $246 million, a 3% decrease compared to the fourth quarter of 2021 [23] - Full year 2022 total revenues decreased to $825 million from $901 million in 2021 [23] - EBITDA from direct operations for the fourth quarter 2022 was $66.9 million, up from $59.7 million in the fourth quarter of 2021 [21] - Full year EBITDA from direct operations reached $473.1 million, significantly higher than $200.4 million for the full year 2021 [21] Business Line Data and Key Metrics Changes - Silver attributable production for Q4 2022 was 1.7 million ounces, a 25% decrease compared to Q4 2021; full year silver production was 6.8 million ounces, down 43% from 2021 [9] - Copper attributable production for Q4 2022 was approximately 31,000 metric tonnes, with full year production at 116,000 metric tonnes, a 13% increase compared to 2021 [10] - Gold attributable production in Q4 2022 was 53,000 ounces, a 10% decrease from the previous year; however, full year gold production was 206,000 ounces, a 4% increase [24] - Lead production in Q4 2022 was around 3,000 metric tonnes, a 30% decrease compared to Q4 2021; full year lead production was approximately 15,000 metric tonnes, down from 21,000 metric tonnes in 2021 [25] - Zinc production in Q4 2022 was 5,000 metric tonnes, a 45% decrease compared to Q4 2021; full year zinc production reached 28,000 metric tonnes, a 33% decline [57] Market Data and Key Metrics Changes - The average gold price was $1,153 per ounce, a 4% decrease year-over-year; silver averaged $19.60 per ounce, a 4% increase; lead was $1,329 per metric tonne, down 10%; copper remained at $6,613 per metric tonne, unchanged from 2021; zinc cost applied to sales was $2,812 per metric tonne, a 24% increase [26] Company Strategy and Development Direction - The company plans to continue exploration related to the underground copper, gold, sulfide project while managing leaching operations at La Zanja [7] - The exploration budget for 2023 is expected to be between $80 million and $90 million, with a focus on both operating units and greenfield projects [18] - The company is working on innovative processes to enhance gold extraction from leaching pads, potentially extending profitable operations for one to two more years [43] Management's Comments on Operating Environment and Future Outlook - Management noted that social, environmental, and political challenges have not significantly impacted on-site operations, although off-site logistics faced delays [54] - The company is optimistic about its cash position, expecting dividends from Cerro Verde to support capital expenditures [32] - Management emphasized the importance of maintaining profitability in leaching operations while developing new projects [50] Other Important Information - Capital expenditures for Q4 2022 were $58.8 million, up from $32.1 million in Q4 2021; full year CapEx reached $152 million, a 68% increase from 2021 [3][56] - The company received a total dividend of $79.1 million from Cerro Verde in 2022 [49] Q&A Session Summary Question: What drove the increase in CapEx for 2023? - The increase is primarily due to the stoppage at San Gabriel and the need to continue work into 2023 [16] Question: What is the exploration budget for 2023? - The exploration budget is expected to be between $80 million and $90 million, with allocations for operating units and greenfield projects [18] Question: How will the company fund the increased CapEx? - The company plans to use $250 million in cash, expect dividends from Cerro Verde, and may raise additional funds if necessary [32] Question: What is the planned output for La Zanja in 2023? - The initial conservative budget is set at 5,000 ounces of gold, with expectations to exceed this figure [36] Question: Will the company need to sell assets to meet financial needs? - Management indicated that asset sales are not anticipated at this time [33]

Greenfield Projects – San Gabriel (Au) Feasibility - Optimized Plant Layout Project Maturity Highlights GEOLOGY MINE PLANT FACILITIES ENERGY WATER INFRA LAND PERMITS SAFETY WORKFORCE SOCIAL S FS D PFS • Engineering and procurement work offsite activities progressed as planned by a significant 64% and 83%, respectively, relative to total targeted for the project completion. • This thereby reduces overall project uncertainty and potentially enabling the recovery of a portion of time lost related to this proje ...

Revenue and Financial Performance - Total revenues for 4Q22 were $246.4 million, a 3% decrease compared to 4Q21, while FY22 revenues were $824.8 million, an 8% decrease compared to FY21[2] - 4Q22 net sales were $246.4 million, a slight decrease from $249.7 million in 4Q21, driven by lower commodity prices and reduced sales volumes of lead, zinc, and silver, partially offset by higher copper sales[90] - Net profit for 2022 was $602.9 million, a significant improvement from a net loss of $262.8 million in 2021[179] - Gross profit for 2022 was $61.3 million, down from $87.3 million in 2021, reflecting higher costs of sales[179] - Operating income from sales of goods decreased from $863.5 million in 2021 to $801.2 million in 2022[179] - Profit attributable to owners of the parent improved significantly to $602.6 million in 2022 from a loss of $264.1 million in 2021[179] - The company reported a foreign currency exchange gain of $26.9 million in 2022, compared to a loss of $18.7 million in 2021[179] EBITDA and Net Income - EBITDA for direct operations in 4Q22 was $76.9 million, a 29% increase compared to 4Q21, and FY22 EBITDA was $473.1 million, a 132% increase compared to FY21[2] - 4Q22 EBITDA from direct operations was US$ 76.9 million, compared to US$ 59.7 million in 4Q21[119] - FY22 EBITDA from direct operations reached US$ 473.1 million, including US$ 300 million from the sale of Buenaventura's stake in Yanacocha[119] - 4Q22 net income reached US$ 68.7 million, compared to a US$ 222.3 million net loss in 4Q21[119] - FY22 net income was US$ 602.9 million, compared to a US$ 262.8 million net loss in FY21[119] Production Metrics - Gold production in 4Q22 was 12,348 ounces, a 33% decrease compared to 4Q21, while FY22 gold production was 54,320 ounces, a 22% decrease compared to FY21[5] - Silver production in 4Q22 was 463,938 ounces, a 21% decrease compared to 4Q21, while FY22 silver production was 1,863,411 ounces, a 3% increase compared to FY21[5] - Copper production at El Brocal increased by 41% year on year in 4Q22 due to higher ore grades and increased ore treated[14] - Gold production from direct operations in 4Q22 was 44,632 ounces, a 9% decrease compared to 4Q21[32] - Silver production from direct operations in 4Q22 was 1,678,051 ounces, a 25% decrease compared to 4Q21[32] - Copper production from direct operations in 4Q22 was 8,937 metric tons, a 41% increase compared to 4Q21[32] - Total gold production including associated companies in 4Q22 was 53,079 ounces, a 10% decrease compared to 4Q21[32] - Total copper production including associated companies in 4Q22 was 31,479 metric tons, a 14% increase compared to 4Q21[32] - Recovery rate in 4Q22 was 84.83%, an 18% increase compared to 4Q21[36] - Ounces produced in 4Q22 were 379,520, a 66% decrease compared to 4Q21[36] - 4Q22 equity gold production was 53,079 ounces, down from 59,033 ounces in 4Q21, while silver, lead, and zinc production decreased by 25%, 30%, and 45% year-on-year, respectively, due to prioritizing higher-margin copper production[91] - 4Q22 copper production increased by 41% year-on-year to 13,789 MT, with full-year copper production up 26% to 45,301 MT[84] - Tambomayo's gold production in FY22 increased by 49% to 74,478 ounces, while silver production surged 117% to 32,124 ounces[93] - Coimolache's silver production in FY22 decreased by 54% to 296,968 ounces compared to 647,468 ounces in FY21[95] - El Brocal's 4Q22 silver production decreased by 7% to 646,125 ounces, while full-year silver production increased by 3% to 2,640,689 ounces[97] - 4Q22 gold production increased by 23% YoY to 10,163 Oz, while silver production decreased by 39% YoY to 20,088 Oz[125] - 4Q22 copper production increased by 41% YoY to 14,548 MT, while zinc production decreased by 51% YoY to 4,037 MT[130] - 4Q22 copper production attributable to Buenaventura increased by 7% YoY to 22,543 MT, driven by a 9% increase in ore volumes and a 3% increase in copper grade[134] - Silver production at Tambomayo decreased by 21% to 463,938 ounces in Q4 2022 compared to 588,138 ounces in Q4 2021, despite a 10% increase in ore milled[161] - Marcapunta's silver production increased by 29% to 477,385 ounces in Q4 2022, driven by a 15% increase in ore milled and an 8% improvement in recovery rate[161] - Tajo Norte Cu-Ag's silver production surged by 81% to 20,863 ounces in Q4 2022, despite a 25% decrease in ore grade and a 14% drop in recovery rate[161] Production Guidance - 2023 gold production guidance is 72k – 80k ounces for Orcopampa and 60k – 65k ounces for La Zanja[7][10] - 2023 silver production guidance is 2.6M – 2.8M ounces for Julcani[13] - 2023 gold production guidance is set at 35,000–40,000 ounces, and silver production guidance is 1.9M–2.2M ounces[86] - 2023 silver production guidance for Uchucchacua is 0.7M – 1.0M ounces and for Yumpag is 1.6M – 1.8M ounces[128] Costs and Expenses - Cost applicable to sales for gold in 4Q22 was $1,704 per ounce[44] - Cost applicable to sales for silver in 4Q22 was $18.37 per ounce[44] - All-in sustaining cost for 4Q22 does not include depreciation and amortization, stoppage of mining units, and exploration in non-operating areas[52] - Consolidated cost applicable to sales for the 12 months ended December 31, 2022, was $749.2 million, a decrease from $804.441 million in 2021[61] - Exploration expenses in units in operation increased to $80.796 million in 2022, up from $56.412 million in 2021[61] - Consolidated cost of sales excluding depreciation and amortization for the 12 months ended December 31, 2022, was $465.105 million, down from $531 million in 2021[61] - Cost applicable to sales per unit sold for gold at Tambomayo was $1,355 per OZ in 2022, compared to $1,274 per OZ in 2021[63] - Cost applicable to sales for FY22 was $465.105 million, with gold contributing $153.747 million, silver $74.023 million, lead $14.559 million, zinc $48.335 million, and copper $173.798 million[68] - Exploration expenses for FY22 totaled $80.796 million, with gold accounting for $20.293 million, silver $43.337 million, lead $1.399 million, zinc $4.347 million, and copper $11.419 million[68] - Commercial deductions for FY22 amounted to $183.077 million, with gold at $16.281 million, silver $24.941 million, lead $4.317 million, zinc $29.939 million, and copper $107.599 million[68] - Selling expenses for FY22 were $20.222 million, with gold at $3.702 million, silver $5.849 million, lead $780,000, zinc $2.368 million, and copper $6.575 million[68] - Total cost applicable to sales for FY22 was $749.200 million, with gold at $194.023 million, silver $148.151 million, lead $21.056 million, zinc $84.989 million, and copper $299.390 million[68] - All-in sustaining cost for FY22 was $81.537 million, with gold at $1,525 per ounce[70] - Cost of sales for 4Q21 was $49.638 million, with gold at $1,395 per ounce[70] - Exploration expenses for 4Q21 were $9.880 million, with gold at $278 per ounce[70] - Commercial deductions for 4Q21 were $12.142 million, with gold at $341 per ounce[70] - 4Q22 copper cost applicable to sales (CAS) decreased by 12% year-on-year, and zinc CAS decreased by 49%, driven by higher head grades and improved metallurgical performance[99] - 4Q22 general and administrative expenses decreased by 8% to $17.3 million compared to $18.9 million in 4Q21[100] - 4Q22 gold production at Tambomayo decreased by 33% YoY, with Cost Applicable to Sales (CAS) increasing to 1,129 US$/Oz from 1,023 US$/Oz in 4Q21 due to lower gold grades[123] - 4Q22 gold production at Orcopampa decreased, with CAS decreasing to 919 US$/Oz from 1,023 US$/Oz in 4Q21 due to reduced sales and exploration costs[124] - 4Q22 gold production at Coimolache decreased by 14% YoY, with CAS increasing to 1,676 US$/Oz from 1,147 US$/Oz in 4Q21 due to higher sales and exploration costs[126] - 4Q22 silver production decreased by 7% YoY, with CAS decreasing by 3% to 16.05 US$/Oz from 16.52 US$/Oz in 4Q21[129] - Consolidated selling expenses for the 3 months ended December 31, 2022, were $4.732 million, compared to $6.137 million in the same period in 2021[147] - Uchucchacua's silver selling expenses for the 12 months ended December 31, 2022, were $3.393 million, a significant increase from $2.411 million in 2021[147] - Tambomayo's gold selling expenses for the 12 months ended December 31, 2022, were $2.447 million, down from $3.036 million in 2021[147] - El Brocal's copper selling expenses for the 12 months ended December 31, 2022, were $6.571 million, up from $5.572 million in 2021[147] - Cost applicable to sales (CAS) for the 12 months ended December 31, 2022, was $37.476 million, compared to $16.764 million in 2021[148] - Exploration expenses for the 12 months ended December 31, 2022, were $627,000, up from $299,000 in 2021[148] - Uchucchacua's cost applicable to sales (CAS) for the 12 months ended December 31, 2022, was $39.62 million, compared to $126.482 million in 2021[150] - All-in sustaining cost (AISC) for 4Q22 was $95.082 million, compared to $55.734 million in 4Q21[152] - Consolidated Cost of Sales (excluding depreciation and amortization) for the 3 months ended December 31, 2022, was $127.6 million, compared to $138.0 million for the same period in 2021[165] - Consolidated Cost of Sales (excluding depreciation and amortization) for the 12 months ended December 31, 2022, was $465.1 million, compared to $531.0 million for the same period in 2021[165] - Consolidated Commercial Deductions for the 3 months ended December 31, 2022, were $45.2 million, compared to $49.6 million for the same period in 2021[167] - Consolidated Commercial Deductions for the 12 months ended December 31, 2022, were $183.1 million, compared to $196.2 million for the same period in 2021[167] - All-in Sustaining Cost for FY22 was $1,416 per ounce of gold sold for Buenaventura, $2,146 per ounce for La Zanja, and $1,596 per ounce for Tantahuatay[175] - Exploration Expenses for FY22 were $60.9 million for Buenaventura, $3.2 million for La Zanja, and $9.0 million for Tantahuatay[175] - Sustaining Capex for FY22 was $8.2 million for Buenaventura, $1.3 million for La Zanja, and $14.6 million for Tantahuatay[175] - By-product Credit for FY22 was -$154.4 million for Buenaventura, -$2.4 million for La Zanja, and -$7.1 million for Tantahuatay[175] - Gold ounces sold in FY21 totaled 113,891 ounces at a cost of $1,580 per ounce, with an all-in sustaining cost of $1,532 per ounce[176] Exploration and Capital Expenditures - Exploration costs in non-operating areas were $3.2 million in 4Q22, a 20% decrease compared to 4Q21[15] - 4Q22 exploration at operating units increased to US$ 27.2 million, compared to US$ 15.5 million in 4Q21[119] - FY22 exploration at operating units increased to US$ 80.8 million, from US$ 56.4 million in FY21[119] - 4Q22 capital expenditures were US$ 69.0 million[104] - 4Q22 capital expenditures were US$ 58.8 million, compared to US$ 32.1 million in 4Q21[119] - The company expects total CAPEX to reach between US$ 350 - 370 million during 2023[120] - CAPEX guidance for San Gabriel updated to ~US$ 190.0 million by year-end 2023, primarily for underground mine development and campsite construction[133] - Payments for acquisition of property, plant, and equipment increased by 68.3% to $151.97 million in 2022 compared to $90.31 million in 2021[158] Cash and Liquidity - Buenaventura's cash position reached US$ 253.9 million as of December 31, 2022[119] - The company collected $300 million from the sale of its participation in Yanacocha and $45 million from the purchase of La Zanja shares in 2022[158] - The company's cash and cash equivalents decreased by $123.08 million in 2022, ending the year with $253.92 million compared to $376.99 million at the end of 2021[158] - Dividends received from associates decreased by 46.7% to $79.14 million in 2022 compared to $148.41 million in 2021[158] - Net cash and cash equivalents from operating activities for the twelve-month period ended December 2022 were $41.67 million, a significant improvement from a net cash outflow of $233.50 million in 2021[158] - Current assets decreased from $739.5 million in 2021 to $620.4 million in 2022, primarily due to a reduction in cash and cash equivalents from $377.0 million to $253.9 million[177] - Current liabilities decreased from $579.1 million in 2021 to $379.6 million in 2022, mainly due to a reduction in financial obligations[178] Other Financial Metrics - Total attributable copper production across all mines reached 1,951 thousand metric tons (MT), with Trapiche contributing the highest at 1,444 thousand MT[59] - Volume sold in FY22 included 168,276 ounces of gold, 7,559,712 ounces of silver, 15,843 metric tons of lead, 30,220 metric tons of zinc, and 45,276 metric tons of copper[68] - El Brocal's Copper sales for the 3 months ended December 31, 2022, were $55.6 million, a 30.4% increase from $42.7 million in the same period in 2021[165] - La Zanja's Gold sales for the 3 months ended December 31, 2022, were $16.7 million, a 21.4% increase from $13.8 million in the same period in 2021[165] - Proceeds from sales of goods and services for the three-month period ended December 2022 were $174.22 million, a decrease of 27.2% compared to $239.47 million in the same period in 2021[158] - Total equity as of December 31, 2022, was $3.162 billion, up from $2.538 billion in 2021[156] Operational Updates - Yumpag project construction and permitting are on schedule, with production expected to begin between 4Q23 and 1Q24, pending permit approval[96] - Buenaventura recorded a US$ 16.4M write-off in 4Q22 related to oxidized low-grade polymetallic sulfide ore at El Brocal[131] Forward-Looking Statements - The company's forward-looking statements highlight potential impacts of COVID-19 on operations, liquidity, and financial growth, as well

Financial Data and Key Metrics Changes - Third quarter 2022 EBITDA from direct operations was $22.2 million, down from $39.5 million in the third quarter of 2021 [7] - Operating cash flow for Q3 2022 reached $16.1 million, a significant improvement from a negative $464.3 million in Q3 2021, which included a $544.2 million payment to the Peruvian tax authority [7] - The net loss for Q3 2022 was $19.8 million, compared to a net loss of $91.9 million for the same period in 2021 [7] - Total revenues in Q3 2022 were $195 million, an 11% decrease from $219 million in Q3 2021 [11] - For the first nine months of 2022, total revenues decreased to $578 million from $647 million in the same period of 2021 [11] Business Line Data and Key Metrics Changes - Exploration expenditures increased to $20.7 million in Q3 2022 from $17.1 million in Q3 2021, reflecting a strategic focus on exploration [8] - Total gold attributable production in Q3 2022 was 56,000 ounces, a 2% increase from the same quarter in 2021 [13] - Silver attributable production decreased by 50% to 1.7 million ounces in Q3 2022 compared to Q3 2021 [14] - Zinc production in Q3 2022 was 7,000 metric tons, a decrease from the previous year [15] - Lead production was around 4,000 metric tons in Q3 2022, down 28% from Q3 2021 [16] Market Data and Key Metrics Changes - The all-in sustaining cost from direct operations for the first nine months of 2022 decreased by 12% to $1,424 per ounce of gold [17] - Costs applicable to sales for gold were $1,126 per ounce, 8% lower than the previous year [17] - Costs for silver were $17.65 per ounce, 10% lower than a year ago [17] Company Strategy and Development Direction - The company is focusing on increasing exploration efforts to extend the life of its mines, with promising results from recent campaigns [8] - Capital expenditures for Q3 2022 were $37.2 million, up from $23.9 million in Q3 2021, with a guidance of approximately $65 million for the San Gabriel project by year-end 2022 [9][12] Management's Comments on Operating Environment and Future Outlook - Management noted easing inflation pressures in Peru, particularly in diesel, cyanide, and explosives, with expectations of a 5% to 8% reduction in consumable prices for Q4 2022 [35] - The company is optimistic about the social climate surrounding the San Gabriel project, having established positive relationships with local communities [31] Other Important Information - The cash position of the company reached $288 million as of September 30, 2022, with net debt decreasing to $448.1 million [9] - The company has resumed construction-related activities at the San Gabriel project, with a soft start already in progress [24] Q&A Session Summary Question: Update on San Gabriel construction and social issues - Management confirmed that construction has started, currently at 1% completion, and social issues with local communities have been resolved [24][25] Question: Easing of inflation pressures in Peru - Management reported reductions in prices for diesel (10%), cyanide (5%), and explosives (8-10%), with an overall expectation of 5% to 8% reduction in consumable prices for Q4 2022 [35][36] Question: CapEx guidance for 2022 - The revised total CapEx for 2022 is estimated at $190 million, with $110 million for sustaining CapEx and $65 million for San Gabriel [38]

[FORM 6-K Filing Information](index=1&type=section&id=FORM%206-K%20Filing%20Information) This section details Compañia de Minas Buenaventura S.A.A.'s Form 6-K filing with the SEC for October 2022 [Registrant Details](index=1&type=section&id=Registrant%20Details) This section identifies Compañia de Minas Buenaventura S.A.A. as a foreign issuer filing a Form 6-K report with the SEC for the month of October 2022, indicating it files annual reports under Form 20-F - Registrant: **Compañia de Minas Buenaventura S.A.A.** (Buenaventura Mining Company Inc.)[1](index=1&type=chunk) - Filing Type: **Form 6-K**, for the month of October 2022[1](index=1&type=chunk) - Annual Report Filing: Files under **Form 20-F**[3](index=3&type=chunk) [Third Quarter and Nine-Month 2022 Results Overview](index=2&type=section&id=Third%20Quarter%20and%20Nine-Month%202022%20Results%20Overview) This overview presents Buenaventura's financial and operational performance for 3Q22 and 9M22, highlighting key metrics and project updates [3Q22 Highlights](index=2&type=section&id=3Q22%20Highlights) Buenaventura reported a significant decrease in EBITDA from direct operations and a net loss in 3Q22, despite a substantial improvement in operating cash flow compared to 3Q21 due to a large tax payment in the prior year. The company increased exploration and capital expenditures, aligning with a strategy to extend mine life and advance key projects 3Q22 Key Financial Highlights | Metric | 3Q22 (US$ million) | 3Q21 (US$ million) | Change (%) | | :-------------------------- | :----------------- | :----------------- | :--------- | | EBITDA Direct Operations | 22.2 | 39.5 | -44% | | Operating Cash Flow | 16.1 | -464.3 | N.A. | | Net Loss | -19.8 | -91.9 | -78% | | Exploration (Operating Units) | 20.7 | 17.1 | 21% | | Capital Expenditures | 37.2 | 23.9 | 56% | - Operating Cash Flow improved significantly from **US$ -464.3 million** in 3Q21 to **US$ 16.1 million** in 3Q22, primarily due to a **US$ 544.2 million** tax payment to SUNAT in 3Q21[7](index=7&type=chunk) - Buenaventura's cash position was **US$ 288.0 million** as of September 30, 2022, with Net Debt decreasing to **US$ 448.1 million**[7](index=7&type=chunk) [Financial Highlights](index=2&type=section&id=Financial%20Highlights) Buenaventura experienced a decline in total revenues and operating income for both 3Q22 and 9M22 compared to the prior year periods. While 3Q22 net loss significantly narrowed, 9M22 saw a substantial net income due to non-recurring items, leading to a positive EPS for the nine-month period Financial Highlights (in millions of US$, except EPS) | Metric | 3Q22 | 3Q21 | Var (%) | 9M22 | 9M21 | Var (%) | | :---------------------------- | :---- | :---- | :------ | :---- | :---- | :------ | | Total Revenues | 195.4 | 220.4 | -11% | 578.4 | 647.1 | -11% | | Operating Income | -20.0 | -13.6 | 47% | -52.0 | -16.6 | 213% | | EBITDA Direct Operations | 22.2 | 39.5 | -44% | 396.3 | 144.6 | 174% | | EBITDA Including Affiliates | 78.2 | 171.3 | -54% | 669.8 | 511.9 | 31% | | Net Income | -19.8 | -91.9 | -78% | 535.1 | -39.3 | N.A. | | EPS | -0.08 | -0.36 | -78% | 2.11 | -0.15 | N.A. | [Operating Revenues Analysis](index=3&type=section&id=Operating%20Revenues%20Analysis) Net sales decreased by 10% year-on-year in 3Q22, primarily driven by lower prices and reduced sales volumes of lead, zinc, and silver. While gold and copper volumes sold increased, their average prices declined, contributing to the overall revenue reduction - 3Q22 net sales were **US$ 195.4 million**, a **10% decrease** from US$ 216.9 million in 3Q21, mainly due to lower prices and volumes of lead, zinc, and silver[9](index=9&type=chunk) Average Metal Prices (US$/oz or US$/MT) | Metal | 3Q22 Price | 3Q21 Price | Change (%) | | :----- | :--------- | :--------- | :--------- | | Gold | 1,678 | 1,764 | -5% | | Silver | 17.33 | 23.94 | -28% | | Lead | 1,713 | 2,412 | -29% | | Zinc | 3,412 | 3,048 | 12% | | Copper | 7,261 | 9,488 | -23% | Volume Sold (Oz or MT) | Metal | 3Q22 Volume | 3Q21 Volume | Change (%) | | :----- | :---------- | :---------- | :--------- | | Gold | 45,807 | 40,633 | 13% | | Silver | 1,954,000 | 3,426,079 | -43% | | Lead | 4,129 | 5,918 | -30% | | Zinc | 8,061 | 11,114 | -27% | | Copper | 11,449 | 8,691 | 32% | [Production and Operating Costs Overview](index=3&type=section&id=Production%20and%20Operating%20Costs%20Overview) Buenaventura's 3Q22 equity gold and copper production increased, while silver, lead, and zinc production saw significant year-on-year decreases, primarily due to the suspension of Uchucchacua operations and a revised mine plan at El Brocal. Consolidated production figures reflect similar trends - Equity gold production increased by **2% YoY** to **55,837 ounces**, and equity copper production increased by **13% YoY** to **28,909 MT**[11](index=11&type=chunk)[12](index=12&type=chunk) - Silver production decreased by **50% YoY**, lead by **33% YoY**, and zinc by **36% YoY**, mainly due to Uchucchacua's suspension and a mine plan change at El Brocal[11](index=11&type=chunk) Consolidated Production (3Q22 vs 3Q21) | Metal | 3Q22 Production | 3Q21 Production | Change (%) | | :----- | :-------------- | :-------------- | :--------- | | Gold | 49,789 Oz | 44,796 Oz | 11% | | Silver | 1,906,679 Oz | 3,898,613 Oz | -51% | | Lead | 4,340 MT | 6,676 MT | -35% | | Zinc | 9,129 MT | 14,254 MT | -36% | | Copper | 12,108 MT | 9,146 MT | 32% | [Tambomayo Operations](index=4&type=section&id=Tambomayo%20Operations) Tambomayo experienced a 23% decrease in gold production in 3Q22 due to mining lower-grade gold areas, which also led to a 1% increase in Cost Applicable to Sales (CAS) for gold. However, silver, zinc, and lead production increased Tambomayo Production & CAS (3Q22 vs 3Q21) | Metric | 3Q22 | 3Q21 | Change (%) | | :---------- | :-------- | :-------- | :--------- | | Gold (Oz) | 13,755 | 17,837 | -23% | | Silver (Oz) | 546,256 | 509,836 | 7% | | Zinc (MT) | 3,446 | 3,397 | 1% | | Lead (MT) | 2,639 | 1,978 | 33% | | Gold CAS (US$/Oz) | 982 | 973 | 1% | - The decrease in gold production was primarily due to production from lower gold grade areas, partially offset by higher lead and zinc grades, aligning with the planned mining sequence[13](index=13&type=chunk) [Orcopampa Operations](index=5&type=section&id=Orcopampa%20Operations) Orcopampa significantly increased gold production by 30% in 3Q22, driven by stable production from the Pucara vein. This higher production, coupled with higher gold grades and lower cash costs, resulted in a 30% decrease in gold Cost Applicable to Sales (CAS) Orcopampa Production & CAS (3Q22 vs 3Q21) | Metric | 3Q22 | 3Q21 | Change (%) | | :---------- | :----- | :----- | :--------- | | Gold (Oz) | 20,164 | 15,547 | 30% | | Silver (Oz) | 8,247 | 4,716 | 75% | | Gold CAS (US$/Oz) | 803 | 1,147 | -30% | - Increased gold production was primarily due to stable production from the asset's Pucara vein[15](index=15&type=chunk) - The decrease in Gold CAS was mainly due to higher gold grade and lower cash cost[15](index=15&type=chunk) [La Zanja Operations](index=5&type=section&id=La%20Zanja%20Operations) La Zanja saw a 47% increase in gold production in 3Q22 due to improved access to the ore body after completing pre-stripping activities. However, Cost Applicable to Sales (CAS) for gold increased by 7% due to lower-than-expected gold extraction from the leach pad and raw material cost inflation, leading to a revised mine plan to conclude mining operations by October 2022 La Zanja Production & CAS (3Q22 vs 3Q21) | Metric | 3Q22 | 3Q21 | Change (%) | | :---------- | :----- | :----- | :--------- | | Gold (Oz) | 8,786 | 5,967 | 47% | | Silver (Oz) | 31,665 | 24,011 | 32% | | Gold CAS (US$/Oz) | 1,892 | 1,763 | 7% | - Gold production increased due to the conclusion of Pampa Verde pit (Phase 4) pre-stripping, enabling full access to the ore body[16](index=16&type=chunk) - Mine plan updated to reflect OpEx increase from raw materials cost inflation; mining operations to extend only through October 2022, followed by limited pad leaching and exploration for an underground Cu/Au-sulfide project[17](index=17&type=chunk) [Coimolache Operations](index=5&type=section&id=Coimolache%20Operations) Coimolache experienced a 26% decrease in gold production and a 52% decrease in silver production in 3Q22, primarily due to lower grades mined and leach pad constraints. Gold Cost Applicable to Sales (CAS) significantly increased by 76%, partly due to a one-time land purchase transaction Coimolache Production & CAS (3Q22 vs 3Q21) | Metric | 3Q22 | 3Q21 | Change (%) | | :---------- | :----- | :------ | :--------- | | Gold (Oz) | 21,899 | 29,597 | -26% | | Silver (Oz) | 76,133 | 159,072 | -52% | | Gold CAS (US$/Oz) | 1,710 | 973 | 76% | - Production decrease was primarily due to lower grades mined and decreased tonnage for leaching due to permit-related leach pad constraints[19](index=19&type=chunk) - The increase in Gold CAS included a one-time land purchase transaction of **US$ 234/Oz**[19](index=19&type=chunk) [Uchucchacua Operations](index=6&type=section&id=Uchucchacua%20Operations) Uchucchacua mine remained under suspension in 3Q22, with no production reported. Exploration and mine development are ongoing, and the target to resume production in 2H23 remains unchanged - No silver, zinc, or lead production reported for 3Q22, as operations were suspended[20](index=20&type=chunk)[21](index=21&type=chunk) - Exploration and mine development continue as planned, with a target to resume production in **2H23**[22](index=22&type=chunk) [Julcani Operations](index=6&type=section&id=Julcani%20Operations) Julcani increased silver production by 5% in 3Q22 due to higher silver grades. This, combined with lower cash costs, led to an 18% year-on-year decrease in silver Cost Applicable to Sales (CAS) Julcani Production & CAS (3Q22 vs 3Q21) | Metric | 3Q22 | 3Q21 | Change (%) | | :---------- | :------ | :------ | :--------- | | Silver (Oz) | 692,876 | 657,494 | 5% | | Silver CAS (US$/Oz) | 13.80 | 16.79 | -18% | - Silver production increased primarily due to a higher silver grade[24](index=24&type=chunk) - Silver CAS decreased due to a combination of higher grade and lower cash cost[24](index=24&type=chunk) [El Brocal Operations](index=6&type=section&id=El%20Brocal%20Operations) El Brocal's copper production increased by 32% in 3Q22 due to higher throughput and grades from the Marcapunta underground mine. Conversely, zinc and silver production decreased significantly as part of a planned transition to copper ore and a revised mine plan following a landslide. Copper Cost Applicable to Sales (CAS) slightly decreased, while zinc CAS increased due to a higher stripping ratio El Brocal Production & CAS (3Q22 vs 3Q21) | Metric | 3Q22 | 3Q21 | Change (%) | | :---------- | :---------- | :---------- | :--------- | | Copper (MT) | 12,108 | 9,146 | 32% | | Zinc (MT) | 5,683 | 8,930 | -36% | | Silver (Oz) | 627,635 | 1,482,163 | -58% | | Copper CAS (US$/MT) | 6,690 | 6,819 | -2% | | Zinc CAS (US$/MT) | 2,698 | 1,814 | 49% | - Copper production increased due to increased throughput and Cu grades from the Marcapunta underground mine[26](index=26&type=chunk) - Zinc and silver production decreased due to a planned transition from polymetallic to copper ore and a revised mine plan following a landslide in March 2022[26](index=26&type=chunk) [General and Administrative Expenses](index=7&type=section&id=General%20and%20Administrative%20Expenses) General and Administrative expenses for 3Q22 saw a slight decrease of 2% compared to 3Q21 General and Administrative Expenses (US$ million) | Period | 3Q22 | 3Q21 | Change (%) | | :----- | :--- | :--- | :--------- | | G&A | 15.4 | 15.6 | -2% | [Exploration Activities](index=7&type=section&id=Exploration%20Activities) Exploration costs in non-operating areas increased in 3Q22, consistent with Buenaventura's strategic focus on extending its mine life (LOM) Exploration Costs in Non-Operating Areas (US$ million) | Period | 3Q22 | 3Q21 | Change (%) | | :----- | :--- | :--- | :--------- | | Costs | 4.2 | 3.5 | 20% | - Increased exploration costs are in line with the Company's strategy to focus on extending LOM[29](index=29&type=chunk) [Share in Associated Companies](index=7&type=section&id=Share%20in%20Associated%20Companies) Buenaventura's share in associated companies significantly decreased in 3Q22, primarily due to a 64% reduction in its share from Cerro Verde and a 127% decrease from Coimolache Share in the Result of Associates (in millions of US$) | Associate | 3Q22 | 3Q21 | Change (%) | | :--------- | :--- | :--- | :--------- | | Cerro Verde | 20.7 | 57.4 | -64% | | Coimolache | -0.2 | 0.8 | -127% | | Total | 20.4 | 58.2 | -65% | [Project Updates](index=6&type=section&id=Project%20Updates) Buenaventura provided updates on its key development projects, San Gabriel and Yumpag. Construction activities at San Gabriel are gradually resuming with updated CAPEX guidance, while Yumpag project construction and permitting are on schedule for a 1H24 production target - San Gabriel Project: Construction activities are gradually resuming. CAPEX guidance for San Gabriel is updated to approximately **US$ 65.0 million** by year-end 2022[7](index=7&type=chunk)[31](index=31&type=chunk) - San Gabriel Project: Engineering and procurement work offsite activities progressed significantly (**45% and 67% respectively**), reducing project uncertainty[32](index=32&type=chunk) - Yumpag Project: Construction and permitting continue according to schedule, with a target to begin production in **1H24**[23](index=23&type=chunk) [Associated Company Performance](index=8&type=section&id=Associated%20Company%20Performance) Buenaventura's associated companies, Cerro Verde and Coimolache, reported mixed financial results in 3Q22. Cerro Verde saw increased copper production but a significant drop in net income due to higher costs and lower copper prices. Coimolache reported an increased net loss [Cerro Verde (19.58% owned)](index=8&type=section&id=Cerro%20Verde%20(19.58%25%20owned)) Cerro Verde's 3Q22 copper production increased by 7%, with Buenaventura's attributable share also rising. However, net income decreased significantly by 64% due to inflationary cost increases and lower average realized copper prices - 3Q22 copper production was **109,655 MT** (**7% increase YoY**), with **21,471 MT** attributable to Buenaventura[34](index=34&type=chunk) Cerro Verde Net Income (US$ million) | Period | 3Q22 | 3Q21 | Change (%) | | :----- | :---- | :---- | :--------- | | Income | 105.5 | 293.3 | -64% | - Net income decrease was primarily due to increased costs from inflationary material/supply prices and decreased sales from lower average realized copper prices[35](index=35&type=chunk) [Coimolache (40.10% owned)](index=8&type=section&id=Coimolache%20(40.10%25%20owned)) Coimolache reported a net loss of US$ 1.0 million in 3Q22, an increase from the US$ 0.4 million net loss in 3Q21 Coimolache Net Loss (US$ million) | Period | 3Q22 | 3Q21 | | :----- | :--- | :--- | | Net Loss | 1.0 | 0.4 | [Company Profile and Disclaimers](index=8&type=section&id=Company%20Profile%20and%20Disclaimers) This section provides an overview of Buenaventura's business, operations, and a disclaimer regarding forward-looking statements [Company Description](index=8&type=section&id=Company%20Description) Compañía de Minas Buenaventura S.A.A. is Peru's largest publicly traded precious metals mining company, involved in the mining, processing, development, and exploration of gold, silver, and other metals through wholly-owned mines and joint ventures. It also holds a significant stake in Sociedad Minera Cerro Verde, a major copper producer - Buenaventura is Peru's largest publicly-traded precious metals mining company and a major holder of mining rights[38](index=38&type=chunk) - The company operates several mines in Peru, including Tambomayo, Orcopampa, Uchucchacua, Julcani, La Zanja, El Brocal, and Coimolache[39](index=39&type=chunk) - Buenaventura owns **19.58%** of Sociedad Minera Cerro Verde, a significant Peruvian copper producer[40](index=40&type=chunk) [Note on Forward-Looking Statements](index=8&type=section&id=Note%20on%20Forward-Looking%20Statements) This section serves as a disclaimer, indicating that the press release contains forward-looking statements regarding the company's future performance, liquidity, cost management, and project achievements. It highlights that actual results may differ materially due to various risks and uncertainties, including market prices, exploration success, and political/economic developments - The press release contains forward-looking statements regarding the Company's business management, liquidity, impact of COVID-19, financial performance, growth, and future dividends/share repurchases[41](index=41&type=chunk) - Forward-looking information involves risks and uncertainties, including those concerning costs, exploration results, market prices of metals, success of joint ventures, and Peruvian political/economic developments[41](index=41&type=chunk) [Appendices and Financial Statements](index=9&type=section&id=Appendices%20and%20Financial%20Statements) This section includes detailed appendices on equity participation, production results, and reconciliations for EBITDA, CAS, and AISC, along with interim consolidated financial statements [Equity Participation Subsidiaries and Associates (Appendix 1)](index=9&type=section&id=Equity%20Participation%20Subsidiaries%20and%20Associates%20(Appendix%201)) Appendix 1 details Buenaventura's equity participation in its subsidiaries and associates as of September 30, 2022, outlining ownership percentages and the corresponding operating mines or businesses Equity Participation Subsidiaries and Associates (as of September 30, 2022) | Company Name | BVN Equity % | Operating Mines / Business | | :---------------------------- | :----------- | :------------------------- | | El Molle Verde S.A.C* | 100.00 | Trapiche Project | | Minera La Zanja S.A* | 100.00 | La Zanja | | Sociedad Minera El Brocal S.A.A* | 61.43 | Colquijirca and Marcapunta | | Compañía Minera Coimolache S.A. ** | 40.10 | Tantahuatay | | Sociedad Minera Cerro Verde S.A.A ** | 19.58 | Cerro Verde | | Processadora Industrial Rio Seco S.A* | 100.00 | Rio Seco chemical plant | | Energético de Huancavelica S.A* | 100.00 | | [Detailed Production Operating Results (Appendix 2)](index=10&type=section&id=Detailed%20Production%20Operating%20Results%20(Appendix%202)) Appendix 2 provides comprehensive operating results for gold, silver, zinc, and copper production across Buenaventura's various mining units for 3Q22 and 9M22, including ore milled, ore grade, recovery rates, and ounces/MT produced Gold Production Operating Results (3Q22 vs 3Q21) | Mining Unit | Metric | Unit | 3Q22 | 3Q21 | △ % | | :---------- | :--------------- | :----- | :------- | :------- | :------ | | Tambomayo | Ounces Produced | Oz | 13,755 | 17,837 | -23% | | Orcopampa | Ounces Produced | Oz | 20,164 | 15,547 | 30% | | La Zanja | Ounces Produced | Oz | 8,786 | 5,967 | 47% | | Coimolache | Ounces Produced | Oz | 21,899 | 29,597 | -26% | Silver Production Operating Results (3Q22 vs 3Q21) | Mining Unit | Metric | Unit | 3Q22 | 3Q21 | △ % | | :------------ | :-------------- | :--- | :---------- | :---------- | :---- | | Tambomayo | Ounces Produced | Oz | 546,256 | 509,836 | 7% | | Uchucchacua | Ounces Produced | Oz | 0 | 1,220,393 | N.A. | | Julcani | Ounces Produced | Oz | 692,876 | 657,494 | 5% | | Marcapunta | Ounces Produced | Oz | 442,811 | 411,542 | 8% | Zinc Production Operating Results (3Q22 vs 3Q21) | Mining Unit | Metric | Unit | 3Q22 | 3Q21 | △ % | | :---------- | :-------------- | :--- | :---- | :---- | :---- | | Tambomayo | MT Produced | MT | 3,446 | 3,397 | 1% | | Uchucchacua | MT Produced | MT | 0 | 1,928 | N.A. | | Tajo Norte | MT Produced | MT | 5,683 | 8,930 | -36% | [Adjusted EBITDA Reconciliation (Appendix 3)](index=12&type=section&id=Adjusted%20EBITDA%20Reconciliation%20(Appendix%203)) Appendix 3 provides a reconciliation of Net Income to EBITDA for Buenaventura's direct operations and including associated companies. It clarifies that EBITDA is a non-GAAP measure and should not be considered an alternative to IFRS operating or net income EBITDA Reconciliation (in thousand US$) | Metric | 3Q22 | 3Q21 | 9M22 | 9M21 | | :---------------------------------------- | :------- | :------- | :------- | :------- | | Net Income | -22,487 | -94,428 | 534,221 | -40,544 | | Depreciation and Amortization in cost of sales | 41,477 | 44,305 | 131,531 | 140,110 | | Share in associated companies by the equity method, net | -20,442 | -58,186 | -118,149 | -82,441 | | EBITDA Buenaventura Direct Operations | 22,246 | 39,471 | 396,271 | 144,639 | | EBITDA Cerro Verde (19.58%) | 52,321 | 120,926 | 261,100 | 331,501 | | EBITDA Coimolache (40.095%) | 3,672 | 10,928 | 12,397 | 35,733 | | EBITDA Buenaventura + All Associates | 78,240 | 171,325 | 669,768 | 511,873 | - EBITDA (Buenaventura Direct Operations) and EBITDA (including associated companies) are non-GAAP measures provided for additional information on operating performance[48](index=48&type=chunk) [Cost Applicable to Sales Reconciliation (Appendix 4)](index=13&type=section&id=Cost%20Applicable%20to%20Sales%20Reconciliation%20(Appendix%204)) Appendix 4 provides a detailed reconciliation of Cost of Sales (excluding depreciation and amortization) to Cost Applicable to Sales (CAS) for each mine and mineral. It defines CAS as a key non-GAAP measure for evaluating operating performance, noting it is not comparable to previously disclosed cash operating costs - Cost applicable to sales (CAS) consists of cost of sales (excluding depreciation and amortization), plus selling expenses[49](index=49&type=chunk) - CAS and CAS per unit sold are non-GAAP measures considered key for managing and evaluating operating performance in the precious metals industry[50](index=50&type=chunk) Consolidated Cost Applicable to Sales (in thousands of US$) | Metric | 3 Months Ended Sep 30, 2022 | 3 Months Ended Sep 30, 2021 | | :-------------------------------------------- | :-------------------------- | :-------------------------- | | Consolidated Cost of sales excluding D&A | 118,419 | 138,702 | | Add: Consolidated Exploration in units in operation | 20,708 | 17,058 | | Consolidated Commercial deductions | 42,039 | 47,865 | | Consolidated Selling expenses | 5,854 | 4,935 | | **Consolidated Cost applicable to sales** | **187,020** | **208,561** | [All-in Sustaining Cost (AISC) Reconciliation (Appendix 5)](index=21&type=section&id=All-in%20Sustaining%20Cost%20(AISC)%20Reconciliation%20(Appendix%205)) Appendix 5 provides a reconciliation of All-in Sustaining Cost (AISC) for 3Q22, 3Q21, 9M22, and 9M21. AISC is presented as a non-consolidated and attributable figure, excluding depreciation, amortization, and exploration in non-operating areas, to offer a comprehensive view of the costs associated with sustaining current mining operations - AISC does not include Depreciation and Amortization, Stoppage of mining units, or Exploration in non-operating areas[64](index=64&type=chunk)[67](index=67&type=chunk)[69](index=69&type=chunk)[71](index=71&type=chunk) All-in Sustaining Cost (AISC) for 3Q22 (Attributable) | Metric | Attributable US$ 000' | 3Q22 US$/Oz Au | | :-------------------------- | :-------------------- | :------------- | | Au Ounces Sold | 49,170 | | | Cost of Sales | 61,490 | 1,251 | | Exploration in Operating Units | 16,631 | 338 | | Royalties | 2,789 | 57 | | Commercial Deductions | 7,598 | 155 | | Selling Expenses | 3,039 | 62 | | Administrative Expenses | 10,234 | 208 | | Other, net | -492 | -10 | | Sustaining Capex | 4,605 | 94 | | By-product Credit | -37,767 | -768 | | **All-in Sustaining Cost** | **68,127** | **1,386** | All-in Sustaining Cost (AISC) for 9M22 (Attributable) | Metric | Attributable US$ 000' | 9M22 US$/Oz Au | | :-------------------------- | :-------------------- | :------------- | | Au Ounces Sold | 138,053 | | | Cost of Sales | 192,580 | 1,395 | | Exploration in Operating Units | 42,801 | 310 | | Royalties | 8,455 | 61 | | Commercial Deductions | 24,540 | 178 | | Selling Expenses | 8,270 | 60 | | Administrative Expenses | 34,509 | 250 | | Other, net | 1,287 | 9 | | Sustaining Capex | 11,522 | 83 | | By-product Credit | -127,329 | -922 | | **All-in Sustaining Cost** | **196,635** | **1,424** | [Interim Condensed Consolidated Financial Statements](index=25&type=section&id=Interim%20Condensed%20Consolidated%20Financial%20Statements) This section presents the interim condensed consolidated financial statements for Buenaventura, including the statements of financial position, profit or loss, and cash flows for the three and nine-month periods ended September 30, 2022 and 2021, prepared in accordance with IFRS [Statements of Financial Position (Balance Sheet)](index=25&type=section&id=Statements%20of%20Financial%20Position%20(Balance%20Sheet)) The balance sheet shows a decrease in total assets and current liabilities from December 31, 2021, to September 30, 2022. Cash and cash equivalents decreased, while investments in associates and joint ventures increased. Total equity attributable to owners of the parent significantly increased Key Financial Position Data (US$ 000) | Metric | Sep 30, 2022 | Dec 31, 2021 | | :-------------------------- | :----------- | :----------- | | Cash and cash equivalents | 287,966 | 376,999 | | Total current assets | 590,824 | 739,545 | | Investments in associates and joint venture | 1,512,790 | 1,422,295 | | Total assets | 4,429,918 | 4,561,811 | | Total current liabilities | 327,412 | 580,099 | | Total liabilities | 1,310,767 | 2,023,280 | | Equity attributable to owners of the parent | 2,961,631 | 2,368,326 | | Total equity | 3,119,151 | 2,538,531 | [Statements of Profit or Loss (Income Statement)](index=26&type=section&id=Statements%20of%20Profit%20or%20Loss%20(Income%20Statement)) The income statement shows a decrease in total operating income and gross profit for both 3Q22 and 9M22. The company reported a net loss in 3Q22 but a significant net profit for 9M22, largely driven by profit from discontinued operations Key Profit or Loss Data (US$ 000) | Metric | 3Q22 | 3Q21 | 9M22 | 9M21 | | :-------------------------- | :-------- | :-------- | :-------- | :-------- | | Total operating income | 195,416 | 220,361 | 578,440 | 647,105 | | Total cost of sales | (189,073) | (203,947) | (550,960) | (582,320) | | Gross profit | 6,343 | 16,414 | 27,480 | 64,785 | | Operating loss | (20,022) | (13,587) | (52,006) | (16,629) | | Share in results of associates and joint venture | 20,442 | 58,186 | 118,149 | 166,449 | | Profit (loss) from continuing operations | (22,549) | (5,276) | 54,352 | 45,848 | | Profit (loss) from discontinued operations | 62 | (89,152) | 479,869 | (86,392) | | Net profit (loss) | (22,487) | (94,428) | 534,221 | (40,544) | | Basic and diluted profit (loss) per share (US$) | (0.08) | (0.36) | 2.11 | (0.15) | [Statements of Cash Flows](index=27&type=section&id=Statements%20of%20Cash%20Flows) The cash flow statement shows a positive net cash flow from operating activities in 3Q22, a significant improvement from a negative flow in 3Q21 due to a large tax payment in the prior year. Investing activities resulted in a net cash outflow in 3Q22, while financing activities also showed a net outflow, contrasting with a large inflow in 3Q21 from bond and bank loan proceeds Key Cash Flow Data (US$ 000) | Metric | 3Q22 | 3Q21 | 9M22 | 9M21 | | :-------------------------------------- | :-------- | :-------- | :-------- | :-------- | | Net cash flows from (used in) operating activities | 16,134 | (464,304) | 40,853 | (338,408) | | Net cash flows from (used in) investing activities | (34,770) | (23,747) | 262,787 | (54,371) | | Net cash flows from (used in) financing activities | (19,714) | 520,689 | (392,673) | 445,200 | | Increase (decrease) in cash and cash equivalents | (38,350) | 32,638 | (89,033) | 52,421 | | Cash and cash equivalents at period-end | 287,966 | 287,870 | 287,966 | 287,870 | - Operating cash flow in 3Q21 included a **US$ 544.2 million** payment for tax litigation[75](index=75&type=chunk) - 9M22 investing activities benefited from a **US$ 300 million** gain from the sale of investment in Yanacocha and **US$ 45 million** from the purchase of shares in La Zanja[75](index=75&type=chunk) [Reconciliation of Net Profit to Operating Cash Flows](index=28&type=section&id=Reconciliation%20of%20Net%20Profit%20to%20Operating%20Cash%20Flows) This reconciliation details the adjustments made to net profit (loss) to arrive at net cash flows from operating activities, highlighting significant non-cash items and changes in working capital. Key adjustments include share in associates, depreciation, deferred income tax, and changes in receivables and payables Reconciliation of Net Profit to Operating Cash Flows (US$ 000) | Metric | 3Q22 | 3Q21 | 9M22 | 9M21 | | :-------------------------------------- | :-------- | :-------- | :-------- | :-------- | | Net profit (loss) | (22,487) | (94,428) | 534,221 | (40,544) | | Share in the results of associates and joint venture | (20,442) | (58,186) | (118,149) | (166,449) | | Depreciation and amortization in Cost of sales | 41,477 | 44,305 | 131,531 | 140,110 | | Decrease (increase) in Trade and other accounts receivable | 27,756 | 47,107 | 82,952 | 47,827 | | Increase (decrease) in Trade and other accounts payable | (15,482) | (1,057) | (83,643) | (8,624) | | Net cash and cash equivalents provided by operating activities | 16,134 | (464,304) | 40,853 | (338,408) | [Signature](index=29&type=section&id=Signature) This section formally concludes the Form 6-K report with the required signature and date [Report Signature](index=29&type=section&id=Report%20Signature) The Form 6-K report was duly signed on October 27, 2022, by Daniel Dominguez, Chief Financial Officer of Compañía de Minas Buenaventura S.A.A., as authorized by the Securities Exchange Act of 1934 - Signed by Daniel Dominguez, Chief Financial Officer, on **October 27, 2022**[78](index=78&type=chunk)

CompañÃa de Minas Buenaventura S.A.A. (NYSE:BVN) Q2 2022 Earnings Conference Call July 27, 2022 10:00 AM ET Company Participants Gabriel Salas - IR Leandro Garcia - CEO Daniel Dominguez - CFO Juan Carlos Ortiz - VP, Operations Renzo Macher - Project Manager Juan Carlos Salazar - Geology & Exploration Manager Roque Benavides - Chairman Raul Benavides - Director Conference Call Participants Jens Spiess - Morgan Stanley Tanya Jakusconek - Scotiabank Operator Good day, ladies and gentlemen, and welcome to the C ...

BUENAVENTURA SecondQuarter 2022 Results Conference Call NYSE Cautionary Statement: BVN This presentation contains certain information that may constitute forward-looking information under applicable U.S. securities legislation, including but not limited to information about costs applicable to sales, general and administrative expenses; production volumes; current expectations on the timing, extent and success of exploration; development and metallurgical sampling activities, the timing and success of minin ...