Market Prices - The morning fixing price for gold on the London Bullion Market was US$2,611 per ounce on December 31, 2024, and US$3,120 per ounce on March 31, 2025[51]. - The afternoon fixing spot price of silver on the London market was US$28.91 per ounce on December 31, 2024, and US$34.06 per ounce on March 31, 2025[51]. - The London Metal Exchange Spot Price for copper was US$8,706 per tonne on December 31, 2024, and US$9,673 per tonne on March 31, 2025[51]. - A continued decline in market prices of gold, silver, and copper could adversely impact revenues, net income, and cash flows[53]. Operating Costs and Profitability - Increased operating costs, including higher equipment, energy, and production costs, could adversely affect profitability and results of operations[68]. - The company no longer engages in hedging activities for gold and silver prices, exposing it fully to market price fluctuations[51]. Mineral Reserves and Exploration - The company may face challenges in replenishing mineral reserves due to the speculative nature of exploration and potential changes in economic feasibility[64]. - The estimates of proven and probable reserves are subject to uncertainties, and actual recovery may vary from estimates[72]. Tax Liabilities - The tax claim for the years 2007, 2008, 2009, and 2010 initially amounted to 373.3 million soles (approximately US$99.0 million), escalating to 2,107.5 million soles (approximately US$559.0 million) due to penalties and fees[78]. - The total amount paid for the disputed tax assessment related to fiscal years 2007 and 2008 was S/1,584,227,000 (equivalent to US$420,219,000), while for fiscal year 2009 it was S/193,398,000 (equivalent to US$51,299,000), and for fiscal year 2010 it was S/356,691,000 (equivalent to US$94,613,000)[80]. - As of 2023, the probability of recovering a portion of the payments made under protest to the Tax Administration related to fiscal years 2009 and 2010 was assessed to be less than 50%, leading to a recognized liability of S/420,231,000 (equivalent to US$111,823,000)[82]. Labor Relations - Unions represented approximately 17.6% of the company's and its subsidiaries' employees as of December 31, 2024, indicating potential risks related to labor disputes[88]. Partnerships and Interests - The company holds a 19.58% partnership interest in Cerro Verde and has no longer any interest in Yanacocha, having sold its stake to Newmont on February 8, 2022[96]. Credit Ratings - The company is rated "BB" by Fitch, "Ba3" by Moody's Investors Service, and "BB-" by S&P Global Ratings, which could impact borrowing costs if ratings are downgraded[102]. Political and Social Risks - The company has faced local political protests and social risks that could disrupt operations and affect future mining projects[89]. - The political and social situation in Peru directly impacts the company's operations, with significant unrest leading to violence and vandalism affecting mining facilities[121]. - Over 60 Peruvians died during three months of violence in early 2023, impacting public and private institutions, including critical mining infrastructure[122]. Legal and Compliance Risks - Legal proceedings against SUNAT could have a material adverse effect on the company's business, with ongoing appeals in Peruvian courts[85]. - The company is subject to evolving anti-bribery and anti-corruption laws in Peru, which may not be as stringent as those in other jurisdictions, necessitating ongoing compliance efforts[110]. Community Relations - The company has implemented extensive community relations practices to manage social issues that may arise at its operations[101]. Geotechnical and Environmental Risks - Geotechnical challenges could adversely impact production and profitability, with potential risks from severe weather and hydrological conditions[91]. - The company owns 15 tailings dams, including 1 under construction, 5 active, and 9 inactive, which could present stability risks, especially related to liquefaction[104]. - The company maintains strict operational controls on critical components to mitigate risks associated with tailings dam failures, which could lead to severe damages and loss of life[106]. Cybersecurity Risks - Cyber incidents, including deliberate attacks, have been increasing, posing risks to the company's information technology systems and potentially disrupting operations[107]. - A cyber-attack could cause temporary interruptions in production and expose the company to liabilities if sensitive personal information is compromised[108]. Shareholder Rights and Corporate Governance - As of March 31, 2025, the Benavides Family holds approximately 35% of the company's outstanding share capital, potentially limiting other shareholders' influence[129]. - Shareholders' rights under Peruvian law are less defined compared to those in the U.S., which may complicate enforcement of their rights[132]. - The company is subject to less stringent disclosure requirements than U.S. companies, potentially resulting in less information available to investors[134]. - Holders of ADSs may be unable to exercise preemptive rights and accretion rights for Common Shares unless specific conditions are met[136]. - A capital increase requires approval from holders of at least 40% of Common Shares at a properly called meeting[136]. - U.S. Holders of ADSs may face limitations in exercising rights unless a registration statement under the Securities Act is effective[136]. - Any rights offering could have a dilutive effect on shareholders who do not exercise their rights[136]. - The Depositary has discretion to sell preemptive rights or accretion rights for holders of ADSs and distribute net proceeds[136]. - If the Depositary cannot make rights available, they may allow the rights to lapse[136].

Compañía de Minas Buenaventura S.A.A. (NYSE:BVN) Q4 2024 Earnings Conference Call February 21, 2025 10:00 AM ET Company Participants Sebastián Valencia - Head, Investor Relations Leandro Garcia - Chief Executive Officer Renzo Macher - Vice President, Projects Juan Carlos Ortiz - Vice President, Operations Daniel Dominguez - Chief Financial Officer Aldo Massa - Vice President, Business Development & Commercial Conference Call Participants Carlos De Alba - Morgan Stanley Cesar Perez-Novoa - BTG Pactual Tanya ...

4Q24 Earnings Results Conference Call 109 149 130 FY24 FY25E 13.8 15.5 15.7 FY24 FY25E 55 57 60 FY24 FY25E $330M $355M- Maintenance ~$135M San Gabriel ~$180M Growth ~$30M +6% +1% -13% Kton-Cu MOz-Ag kOz-Au CAPEX Copper Silver Gold 4 Cautionary Statement 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; produc ...

Markets are on edge as tariff concerns escalate and rate cuts remain elusive. With global trade tensions rattling supply chains and the Fed holding firm on rates, volatility is expected to continue. In times like these, value investing — seeking fundamentally strong stocks trading below their intrinsic worth — is one of the best strategies to identify solid opportunities amid the chaos.One interesting ratio that you can consider for ferreting out attractively valued stocks is earnings yield. Stocks like Dan ...

LIMA, Peru, Feb. 4, 2025 /PRNewswire/ -- Compañía de Minas Buenaventura S.A.A. ("Buenaventura") (NYSE: BVN) announces today the settlement of the cash tender offer (the "Tender Offer") for any and all of its outstanding 5.500% Senior Notes due 2026 (the "Notes") (144A CUSIP / ISIN: 20448 AA2 / US20448AA22 and Regulation S CUSIP / ISIN: P6680P AA9 / USP6680PAA95), on the terms and subject to the conditions set forth in Buenaventura's Offer to Purchase dated January 23, 2025 (the "Offer to Purchase") and the ...

LIMA, Peru, Jan. 29, 2025 /PRNewswire/ -- Compañía de Minas Buenaventura S.A.A. ("Buenaventura") (NYSE: BVN) announces today the expiration of the cash tender offer (the "Tender Offer") for any and all of its outstanding 5.500% Senior Notes due 2026 (the "Notes") (144A CUSIP / ISIN: 20448 AA2 / US20448AA22 and Regulation S CUSIP / ISIN: P6680P AA9 / USP6680PAA95), on the terms and subject to the conditions set forth in Buenaventura's Offer to Purchase dated January 23, 2025 (the "Offer to Purchase") and the ...

Tender Offer Details - Compañía de Minas Buenaventura SAA announced a cash tender offer for its outstanding 5.500% Senior Notes due 2026, with a principal amount of US$550,000,000 [1] - The purchase price is set at US$1,000 for each US$1,000 principal amount of Notes, plus accrued interest up to the settlement date [1] - The Tender Offer is scheduled to expire at 5:00 p.m., New York City time, on January 29, 2025, unless extended or terminated earlier [2] Conditions and Procedures - The Tender Offer is subject to certain conditions, including the completion of a new notes offering to provide sufficient funds for the tender [3] - Holders can withdraw their tendered Notes at any time before the Withdrawal Deadline, which is also 5:00 p.m., New York City time, on January 29, 2025 [2] - Settlement is expected to occur on the fourth business day following the Expiration Time, unless the Tender Offer is terminated earlier [5] Additional Rights and Options - The company reserves the right to extend, waive conditions, terminate, or amend the Tender Offer at its discretion [3] - After the Expiration Time, the company may redeem or purchase any remaining Notes through various methods, including open market purchases or private transactions [4] Agent and Manager Information - D.F. King & Co., Inc. is the tender agent and information agent for the Tender Offer, providing access to the Offer to Purchase and Notice of Guaranteed Delivery [7] - Banco BTG Pactual S.A. – Cayman Branch and J.P. Morgan Securities LLC are the dealer managers for the Tender Offer, handling inquiries related to the terms [8]

Investors in Compañía de Minas Buenaventura S.A.A. (BVN) need to pay close attention to the stock based on moves in the options market lately. That is because the March 21, 2025 $8 Call had some of the highest implied volatility of all equity options today.What is Implied Volatility?Implied volatility shows how much movement the market is expecting in the future. Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the ot ...

For those looking to find strong Basic Materials stocks, it is prudent to search for companies in the group that are outperforming their peers. Buenaventura (BVN) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? By taking a look at the stock's year-to-date performance in comparison to its Basic Materials peers, we might be able to answer that question.Buenaventura is one of 235 companies in the Basic Materials group. Th ...

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