Compañía de Minas Buenaventura S.A.A. announced its production and sales volumes for the third quarter of 2026, reporting 37,375 gold ounces and 3.25 million silver ounces produced including associated companies.

The company operates as Peru’s largest publicly traded precious and base metals mining entity. While most operations met projections, the San Gabriel mine revised its 2026 gold production guidance due to temporary processing constraints during its ramp-up phase.

Production and Sales Volumes

The following table summarizes the production and sales figures for the three months ended September 30, 2026, and the nine-month period ended September 30, 2026.

Note: Production and sales figures include associated companies (Coimolache and El Brocal at respective ownership percentages).

Operational Commentary

Most operating units reported production in line with projections. Key operational updates include:

• Uchucchacua: Silver, lead, and zinc production aligned with projections. 2026 guidance remains unchanged.
• Yumpag: Silver production met projections despite lower grades consistent with the mine plan. Guidance unchanged.
• El Brocal: Copper, silver, and gold production met projections. The operation achieved a processing rate of 13,500 tons per day by quarter-end. Guidance unchanged.
• San Gabriel: Gold production fell below projections due to lower ore throughput during the ramp-up phase. Processing was constrained by tailings filtration system reinforcement work. Mining rates stabilized at 1,700 tpd, creating a stockpile of approximately 100,000 metric tons. The 2026 gold production guidance has been revised to reflect this updated schedule.
• Coimolache: Gold and silver production met projections. Guidance unchanged.
• Julcani: Gold production slightly exceeded projections due to higher contributions from gold-rich zones, while silver production fell below projections. 2026 production guidance revised to reflect the expected mix.
• Orcopampa: Gold production slightly exceeded projections due to higher ore throughput. Guidance unchanged.
• Tambomayo: Gold production exceeded projections driven by higher grades. Other metals met projections. Guidance unchanged.
• La Zanja: Gold production met projections. Guidance unchanged.

Average Realized Prices

The company disclosed the following average realized prices for the quarter and nine-month period:

What the Numbers Show

A divergence exists between the strong realized prices for base metals and the production guidance revisions for specific units. While copper prices rose to $15,190/mt in Q3 from $14,343/mt over the nine-month period, supporting revenue potential from El Brocal, the revision of San Gabriel's guidance highlights operational bottlenecks in new ramp-ups. Additionally, Julcani's shift in production mix toward gold-rich zones, despite lower silver output, suggests a strategic or geological pivot that necessitated a guidance update, contrasting with the stable outlooks provided by major producers like Uchucchacua and Coimolache.

Compañía de Minas Buenaventura announced it will hold its Third Quarter 2026 earnings conference call on Friday, October 30, 2026. The event is scheduled for 12:00 PM Eastern Time and 11:00 AM Lima Time.

Call details and participants

The conference call will feature Leandro García Raggio, Chief Executive Officer, alongside other members of the senior management team. They will review the company's financial and operating results for the third quarter of 2026.

Results release timing

Buenaventura stated that the third quarter results will be issued on Thursday, October 29, 2026, following the market close. This allows investors to review the data prior to the live discussion.

Access information

Participants can join the call via toll-free or international dial-in numbers provided by the company. A live webcast link is also available for those preferring to listen online. The replay will be accessible for seven days post-call using a specific access code.