Press release from Business Wire
Operations Resume at Buenaventura's Uchucchacua Mine
Friday, April 26, 2013
Operations Resume at Buenaventura's Uchucchacua Mine16:13 EDT Friday, April 26, 2013
LIMA, Peru (Business Wire) -- Compañia de Minas Buenaventura S.A.A. (“the Company” or “Buenaventura”) (NYSE: BVN; Lima Stock Exchange: BUE.LM) announced today that Uchucchacua's contractor's union voluntarily concluded the strike that began April 16, 2013. Normal operations resumed at Uchucchacua this morning.
It is important to mention that this strike was declared illegal by the Peruvian Ministry of Labor.
Compañía de Minas Buenaventura S.A.A. is Peru's largest, publicly traded precious metals Company and a major holder of mining rights in Peru. The Company is engaged in the mining, processing, development and exploration of gold and silver and other metals via wholly owned mines, as well as through its participation in joint exploration projects.
Buenaventura currently operates several mines in Peru (Orcopampa*, Poracota*, Uchucchacua*, Breapampa*, Mallay*, Antapite*, Julcani*, Recuperada*, El Brocal, La Zanja, Coimolache and CEDIMIN*).
The Company owns 43.65% of Minera Yanacocha S.R.L (a partnership with Newmont Mining Corporation), an important precious metal producer; 19.58% of Sociedad Minera Cerro Verde, an important Peruvian copper producer, and 49% of Canteras del Hallazgo S.A, owner the Chucapaca project.
(*) 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.
Contacts in Lima:
Compañia de Minas Buenaventura S.A.A.
Roque Benavides / Carlos Galvez
(511) 419-2538 / 419-2540
Contact in New York:
i-advize Corporate Communications, Inc.
Maria Barona / Rafael Borja