presentacion buenaventura

Cautionary Statement

This package of presentation materials contains

forward-looking information regarding sales and

production volumes, cash production costs, general

and administrative expenses, capital expenditures,

development projects and other matters. Important

factors that might cause future results to differfactors that might cause future results to differ

from these projections are described in BVN’S form

20-F filed with the Securities and Exchange

Commission.

2

1. COMPANY OVERVIEW1. COMPANY OVERVIEW

Company overview

towards 60 years in mining

Strong portafolio of Strong cash position / Strong portafolio of

mining projects

At least 70% of revenues

from precious metals

Growing gold production

Strong cash position /

balance sheet

Experienced team

Growing gold production

from direct operations

Listed in the NYSE (BVN)

and the Lima Stock

Exchange (BVN.LM)

No hedges

Focused in explorations- 43.65% stake in Yanacocha

- 19.26% stake in Cerro Verde

- 49.00% stake in Chucapaca

Attractive Equity Investments

4

2. GOLD MARKET2. GOLD MARKET

5

Our positive perception of gold

Demand factorsDemand factors Supply factorsSupply factorsDemand factorsDemand factors

Investment demand due to US$ weakness and inflation risk.

Potential increase in Central Banks demand.

Supply factorsSupply factors

No major gold deposits discovered.

Increase in the industry average cash cost (< US$ 600 per Oz.)demand.

ETF’s as a vehicle to acquire gold.

Increase in gold holdings per capita as safe haven.

(< US$ 600 per Oz.)

Increasing social issues and environmental restrictions.

Flat global gold production and reserves, despite the higher gold price.

6

3. FINANCIAL HIGHLIGHTS3. FINANCIAL HIGHLIGHTS

Financial Track Record

8

Buenaventura & Affiliates Revenues & EBITDA Breakdown

9

Strong Balance Sheet

Total CAPEX

US$ 200 MM

10

4. OPERATIONAL HIGHLIGHTS4. OPERATIONAL HIGHLIGHTS

Main Operations

NAME METALSTYPE

(Open Pit / Underground)

Uchucchacua Silver, Lead, Zinc Underground

Orcopampa Gold, Silver Underground

Poracota Gold, Silver Underground

Julcani Silver, Copper, Lead Underground

Recuperada Silver, Lead, Zinc Underground

Antapite Gold, Silver Underground

Cedimin Gold, Silver Underground

El Brocal

(Colquijirca/Marcapunta)Zinc, Lead, Silver, Copper Open Pit/UndergroundD

IRE

CT

OP

ER

AT

ION

S

(Colquijirca/Marcapunta)

La Zanja Gold, Silver Open Pit

Coimolache

(Tantahuatay)Gold, Silver Open Pit

Yanacocha (43.65%) Gold, Silver Open Pit

Cerro Verde (19.26%) Copper, Molybdenum Open Pit

DIR

EC

TA

FF

ILIA

TE

S

12

Gold, Silver, Copper and Zinc Equity Production

* Estimated

13

13.29

11.8711.25 11.0612

14

16

Gold R&R

Reserves & Resources

160.0180

Silver R&R

11.8711.25 11.06

7.81 8.15 8.32

10.50

0

2

4

6

8

10

12

2007 2008 2009 2010

00

0 O

z

Reserves Resources

101.6

121.9

151.4 151.5160.0

135.1

151.5 148.9

0

20

40

60

80

100

120

140

160

180

2007 2008 2009 2010

M O

z

Reserves Resources

14

Cash Costs

METAL2011 CASH

COST *

2010 CASH

COST

2010 REALIZED

PRICE

Gold Inc Yanacocha US$ / Oz Au 450 - 500 464 1,232

Silver US$ / Oz Ag 11.0 - 12.0 11.89 20.86

Zinc US$ / TM Zn 900 – 1,100 994 2,136

Copper US$ / Lb Cu 0.87 - 0.93 0.88 3.680.87 - 0.93 0.88

15

* Estimated

5. DIRECT OPERATIONS5. DIRECT OPERATIONS

ORCOPAMPA

Main metals Gold, Silver

Deposit & Mine type Underground

Plant Capacity (MT per day) 1,200

Cash Cost (Average 2010) US$ 349 / OzAu

MAIN GROWTH PROJECTS

•2nd stage old tailings retreatment to recover 1.1 M oz

of silver between year 2011 – 2013.

* Estimated

of silver between year 2011 – 2013.

• Tailings dam # 4A expansion to 4.5 years. Estimated

CAPEX US$18 M.

17

Orcopampa: Chipmo Area

NESW

TOTAL ORE RESERVES : 1.20 Mt @ 18.5 g/t Au (0.71 Moz Au)

TOTAL NMR : 1.02 Mt @ 18.1 g/t Au (0.60 Moz Au)

NESW

3,600

3,800

Nv. 3490

Nv. 3440

Nv. 3590

Nv. 3640

Nv. 3690

Hole Width (m) Au g/t

1 0.20 27.9

2 2.20 50.6

3 1.20 16.9

4 1.56 22.5

5 0.78 13.4

6 1.05 1.8

7 0.40 22.5

8 1.00 17.4

9 0.20 26.5

10 0.30 13.6

11 0.75 12.7

12 3.22 29.4

13 0.28 24.8

14 4.85 21.5

15 4.63 34.7

16 0.54 40.0

Chilcaymarca River

Height (m)NAZARENO SHAFT

PROMETIDA SHAFT

19,232 m HDD (98% programado) 18

3,200

3,000

3,400

Nv. 3290

Nv. 3390

Nv. 3340

Nv. 3230

Nv. 3170

12

3

4

5

67

8

9

10

1

1

1

2

13

14

15 16

Economic Ore > 13.17gAu/tMarginal Ore 11.01 – 13.17gAu/t

Submarginal Ore 8.95 – 11.01gAu/tLow Grade Ore 2.30 – 8.95gAu/t

0 m 100 200 m

PORACOTA


458500

R&R


Plant Capacity (MT per day) 650



* Estimated

195

12388

53

195 193140

458

0

100

200

300

400

500

2007 2008 2009 2010

Oz

Au

(0

00

)

Reserves Resources

• Preparing mining plan to exploit oxide ore

(100K gold oz).

19

ANTAPITE



Plant Capacity (MT per day) 700

Cash Cost (Average 2010) US$ 761/ OzAu


* Estimated

• Exploring new surrounding areas to increase

resources.

• Working on social constrains.

20

UCHUCCHACUA

Main metals Silver, Zinc, Lead


Plant Capacity (MT per day) 2,722

Cash Cost (Average 2010) US$ 12.35 / OzAg


• Working on a manganese sulphate plant to expand

ore reserves with manganese content and to increase

* Estimated

ore reserves with manganese content and to increase

production.

21

Uchucchacua Cross SectionTOTAL ORE RESERVES : 4.45 Mt @ 13.5 oz/t Ag, 1.6 % Pb, 2.3 % Zn

TOTAL NRM : 3.28 Mt @ 13.2 oz/t Ag, 1.9 % Pb, 2.7 % Zn

?

??

?

?

?

?

? ?

?

?

?

?

Ks-js

sm

Ks-jm

NW SE

LUCRECIA AREA

SOCORRO AREA

CARMEN AREA

HUANTAJALLA AREA

5,000

4,600

4,200

Level 4120

IRMA

VIVIANA

ROSMERY

EVA

MARIA

RITA

LUCIA

Height

(m.)

CLAUDIA

Level 4180

Level 4240

Level 4300

Level 4360

Level 4400

Level 4450

Level 4500

Level 4550

Level 4600

5,000

4,600

4,200

22

?

?

?

? ?

?

?

400 m.

Ks-ji3,800

Level 3990

Level 4120ROSMERY

MARION

NORTE

Level 4060

Level 3920

Ks-js

Ks-jm

Ks-ji

Upper Jumasha Formation

Marker bed

Middle Jumasha Formation

Lower Jumasha Formation

Intrusives

Sulfide orebody

Oxide orebody

Veins

Faults

Luz shaft

Mastershaft

Dacitic intrusive+ +

2

1

DMC252-01-2011-012

DMC252-01-2011-014

DMC252-01-2011-014

N° Width Oz Ag %Pb %Zn %Mn Height

1 13.75 29.8 1.19 1.01 23.14 3841

DMC252-01-2011-012

N° Width Oz Ag %Pb %Zn %Mn Height

2 4.92 21.4 6.46 6.72 11.03 3776

3,800

52,600 m DDH drilled in 2010

EL BROCAL

Ownership 53% Buenaventura

Main metals Zinc, Silver, Lead

Deposit & Mine type Open Pit

Cash Cost (Average 9M10) US$ 994 / MtZn

* Estimated

COLQUIJIRCA


23

Main metals Copper


Cash Cost (Average 2010) US$ 3,530 / MtCu

* Estimated

MARCAPUNTA

EL BROCAL

Silver Zinc Copper Gold RESERVES & RESOURCES

Silver

(M Oz)

Zinc

(M ST)

Copper

(M ST)

Gold

(M Oz)

RESERVES

Tajo Norte +

La LLave64.2 1.7 - -

Marcapunta

Sulfides3.5 - 0.2 0.1

RESOURCES

Tajo Norte +

La LLave69.4 1.9 - -

Marcapunta

Sulfides20.2 - 1.8 1.8

Marcapunta

Oxides31.8 - - 0.7

San Gregorio 30.3 6.1 - -

24

LA ZANJA

Ownership 53% BVN, 47% NewmontOwnership 53% BVN, 47% Newmont



Estimated production per year 100k Oz Au


MAIN PROJECT

* Estimated

25

• Construction of the Pampa Verde project to expand

the life of mine. To be completed in 3Q12. Aprox

CAPEX US$ 14.5 MM.

TANTAHUATAY

Ownership 40% BVN, 44% SCCO, 16% ESPROOwnership 40% BVN, 44% SCCO, 16% ESPRO



Estimated production per year 100k Oz Au

Cash Cost (Estimated) US$ 400 / OzAu

• Construction completed in July 2011.

* Estimated

26

• Construction completed in July 2011.

• Started operations in August 2011.

6. AFFILIATES6. AFFILIATES

YANACOCHA

Ownership43.65% Buenaventura, 51%

Newmont, 5% IFCNewmont, 5% IFC




CONGA PROJECT

•CAPEX:

•Reserves:• ≈ US$4.0 – US$4.2 Billion

•11.8 M oz of gold.

* Estimated

•Reserves:

• Status:

• Average Estimated Production:

• CAS:

•11.8 M oz of gold.

• 3.2 B Lb of copper.

• EIA approved.

• ≈ 650 K oz of gold per year.

• ≈ 200 M Lb (100K ST) of copper per

year.

• ≈ US$400 per oz of gold.

28

CERRO VERDE

Ownership

19.26% Buenaventura, 54%

Freeport McMoran, 21% Ownership Freeport McMoran, 21%

Sumitomo

Main metals Copper, Molybdenum


Cash Cost (Average 2010) US$ 0.88 / LbCu


* Estimated

• Feasibility study for the large-scale concentrator

expansion was completed in 2Q11.

• Expansion of concentrator facilities from 120K to

360K MT per day.

• incremental annual production of aprox 600 M Lb

(300K ST) of copper beginning in 2016

• Total CAPEX: US$3.5 Billion

29

7. DEVELOPMENT PROJECTS AND 7. DEVELOPMENT PROJECTS AND

EXPLORATION PROSPECTSEXPLORATION PROSPECTS

BREAPAMPA




Resources 12,4910 M ST @ 0.025 oz/ST Au (317k Oz Au)

Production Profile per year

(estimated)60k gold Oz per year

Status EIS approved

CAPEX US$ 48 millionCAPEX US$ 48 million

31

Start ConstructionEIS approved

20112011 20122012 20132013

Start Production

JulJan Mar Apr May Jun Aug Sep Oct Nov Dec

JulJan Feb Mar Apr May Jun Aug Sep Oct Nov Dec

Feb

EL BROCAL EXPANSION PROJECT


CAPEX US$ 239 million

ObjectiveTo expand plant capacity from 6K TPD to 18K TPD

and a new tailings dam construction

Status Completing expansion from 10K TPD to 18K TPD

32

HUANZA HYDROELECTRICAL PLANT

Ownership 100% BuenaventuraOwnership 100% Buenaventura

CAPEX US$ 145 million

Objective To assure energy supply for direct operations

Energy generation 90.6 Mw

Status Under construction

AprJan Feb Mar May Jun Jul Aug Sep Oct Nov Dec

JunJan Feb Mar Apr May Jul Aug Sep Oct Nov DecJan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

33

20102010 20112011 20122012 20132013

Jan Feb Mar May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jul Aug Sep Oct Nov DecJan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

Civil works started Construction completed

Location of Exploration Prospects

Trapiche

Chucapaca

Hualgayoc

Colquemayo

Tuyumina

Yumpag

34

Hualgayoc

El Faique

Pachuca / Real del Monte *

* 100 Km north of Mexico City, in

the state of Hidalgo.

Yumpag

Pisqahuanca

CHUCAPACA(Operated by CANTERAS DEL HALLAZGO)

Ownership 49% Buenaventura / 51% Gold Fields

Main metals Gold (copper & silver)

Deposit & Mine Type Open pit / Flotation + CIL

Status Working on feasibility study to be delivered on Q2 2012Status Working on feasibility study to be delivered on Q2 2012

Inferred Mineral Resources for Canahuire132.7 M Mt @ 1.4 g/t Au, 0.09% Cu and 10.8 g/t Ag

= 7.6 million Au equivalent ounces (As of September 2011)

35

Longitudinal section, block modeland cone for Canahuire

36(As of September 2011) NRM : 132.7 Mt @ 1.4 g/t Au, 0.09 % Cu, 10.8 g/t Ag (7.6 M ounces of equivalent gold)

TRAPICHE


Main metals Copper, Molybdenum

Deposit & Mine type Open pit / Heap leach / SXEW

StatusAdvanced exploration and feasibility

In June 2011: 30 year agreement signed with the Mollebamba community

449 Mt @ 0.48% Cu (2.2 M MT)

Inferred Resources

449 Mt @ 0.48% Cu (2.2 M MT)

Cut off: 0.2% Cu

Includes 120 M Mt @ 0.7% Cu leachable material

37

Trapiche: Mo anomaly and

chalcocite blanket

Mollebamba

* NRM : 499.5Mt @ 0.48% Cu, 0.01% Mo

(Cut off: 0.2% Cu)

TR-59

Mollebamba

TR-59TR-17

Trapiche porphyry

Millocucho skarn

Chalcocite blanket

500 m

5 Km

4800

> 100 g/t MoDiamond drill holes

Mining properties

Corihuaraca hill

* Includes 120Mt @ 0.70% Cu of leachable material

Chalcocite blanket

120 Mt @ 0.70% Cu

TUYUMINA


Main metals Gold and silver

Deposit & Mine Type High grade, underground with conventional metallurgy

Status Advanced exploration & mine development

39

Inferred Mineral Resources

for Tuyumina0.64 Mt @ 10.4 oz/t Ag & 8.2 g/t Au

Tuyumina: Longitudinal section

Mirtha vein (Au eq grade x thickness)

8. STRATEGY8. STRATEGY

41

EXPLORATIONSEXPLORATIONS OPERATIONSOPERATIONS M & AM & A

Creating Value Through…

EXPLORATIONSEXPLORATIONS

Focused on precious metals

Solid exploration portfolio

Exploring inside Peru & Latinamerica

Share risk through jointventure

OPERATIONSOPERATIONS

Improving mining operations

Improving metallurgical process

Incorporating chemical process

Assuring power supply

M & AM & A

Mainly gold and preciousmetals

Junior companies

Located in Peru & Latinamerica

Controlling interestsventure

Assuring power supply Controlling interests

SUSTAINABILITYSUSTAINABILITYTaking care of

environmental

issues

Improving

community

relations

Good corporate

governance

42

SAFETY IN EVERYTHING WE DOSAFETY IN EVERYTHING WE DO

Shareholders Strategy

BVN has not issued new BVN has not issued new

equity for 15 yearsequity for 15 years

43

equity for 15 yearsequity for 15 years

www.buenaventura.com

Investor Relations : Daniel Domínguez

Telephone: (511) 419-2536

E-mail: [email protected]

APPENDIXAPPENDIX

45

Major mining properties & projects

in Cajamarca

46

Shareholders Structure

NAME INTEREST

Institutional Investors 55 %

Benavides Family 27 %

Peruvian Pension Funds (AFP’s) 12 %

Others 6 %

OUTSTANDING

SHARES

254,442,328

47

presentacion buenaventura

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