UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN ISSUER
PURSUANT TO RULE 13a-16 OR 15b-16 OF
THE SECURITIES EXCHANGE ACT OF 1934

For the month of October 2019

Commission File Number 001-14370

COMPANIA DE MINAS BUENAVENTURA S.A.A.

(Exact name of registrant as specified in its charter)

BUENAVENTURA MINING COMPANY INC.
(Translation of registrant’s name into English)

Republic of Peru
(Jurisdiction of incorporation or organization)

CARLOS VILLARAN 790
SANTA CATALINA, LIMA 13, PERU
(Address of principal executive offices)

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 submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): [ ]

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): [ ]

Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes _______ No ___X____

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): Not applicable.

Buenaventura Announces Third Quarter

and Nine Month 2019 Results

Lima, Peru, October 29, 2019 – Compañia de Minas Buenaventura S.A.A. (“Buenaventura” or “the Company”) (NYSE: BVN; Lima Stock Exchange: BUE.LM), Peru’s largest publicly-traded precious metals mining company, today announced results for the third quarter (3Q19) and nine-month (9M19) period ended September 30, 2019. All figures have been prepared in accordance with IFRS (International Financial Reporting Standards) on a non-GAAP basis and are stated in U.S. dollars (US$).

Third Quarter 2019 Highlights:

●	Buenaventura generated US$ 12.0 million in additional EBITDA through the Company´s De-Bottlenecking Program (please see page 6 for more details). Through this program, BVN is increasing the efficiency of its Tambomayo, Uchucchacua, Orcopampa and El Brocal mines.
●	3Q19 EBITDA from direct operations was US$ 55.8 million, compared to US$ 60.8 million reported in 3Q18, primarily due to a reduction in production and volume sold at the Company’s Orcopampa and La Zanja mines. However, this represents a continued positive sequential quarterly trend.
●	3Q19 EBITDA was adversely affected in the amount of US$ 10 million due to a one-off event related to headcount reduction at Orcopampa and more than expected inventory generated at Tambomayo.
●	3Q19 Adjusted EBITDA including associated companies reached US$ 158.5 million, compared to US$ 150.8 million in 3Q18.
●	3Q19 capital expenditures were US$ 28.0 million, compared to US$ 18.5 million for the same period in 2018.
●	3Q19 net income was US$ 4.5 million, compared to a net income of US$ -10.3 million for the same period in 2018.
●	The portfolio of greenfield projects continued progressing well. San Gabriel (Au) and Trapiche (Cu) have achieved pre-feasibility stage in 3Q19. Buenaventura expects to declare ore reserves in 1Q20.
●	At Yanacocha, Quecher Main is on budget and should achieve commercial production by 4Q19.
●	Cerro Verde´s 3Q19 was primarily affected by the social unrest related to a copper project in the region, which restricted the workforce’s access to the mine and the replacement of consumables. Due to this, the processing plants treated stockpiles, which adversely affected grades and recoveries.
●	A dividend payment of US$ 0.027 per share/ADS was approved by Buenaventura’s Board.

Financial Highlights (in millions of US$, except EPS figures):

	3Q19	3Q18	Var	9M19	9M18	Var
Total Revenues	230.2	268.8	-14%	632.4	898.5	-30%
Operating Profit	-6.9	-24.5	-72%	-49.3	37.0	N.A.
EBITDA Direct Operations	55.8	60.8	-8%	128.4	246.7	-48%
Adjusted EBITDA (Inc Associates)	158.5	150.8	5%	444.2	515.0	-14%
Net Income	4.5	-10.3	N.A.	41.5	59.4	-30%
EPS*	0.02	-0.04	N.A.	0.16	0.23	-30%

(*) As of September 30, 2019 Buenaventura had a weighted average number of shares outstanding of 253,986,867.

Compañía de Minas Buenaventura S.A.A.

Third Quarter 2019 Results

Page 2 of 25

Operating Revenues

3Q19 net sales were US$ 223.6 million, compared to US$ 263.0 million reported in 3Q18. This was primarily due to a 41% YoY decrease in volumes sold of gold and a 27% YoY decrease in silver.

Royalty income increased 14% in the 3Q19; to US$ 6.6 million in 3Q19 from US$ 5.8 million in 3Q18. This was due to a 25% increase in revenues at Yanacocha.

Operating Highlights	3Q19	3Q18	Var%	6M19	6M18	Var%
Net Sales (in millions of US$)	223.6	263.0	-15%	615.0	883.5	-30%
Average Realized Gold Price (US$/oz) ^{(1) (2)}	1,493	1,186	26%	1,373	1,279	7%
Average Realized Gold Price (US$/oz) Inc. Affiliates ⁽²⁾⁽³⁾	1,480	1,196	24%	1,371	1,275	8%
Average Realized Silver Price (US$/oz) ^{(1) (2)}	17.69	13.91	27%	16.00	15.52	3%
Average Realized Lead Price (US$/MT)^{(1) (2)}	1,947	1,929	1%	1,934	2,268	-15%
Average Realized Zinc Price (US$/MT)^{(1) (2)}	1,961	1,773	11%	2,584	2,792	-7%
Average Realized Copper Price (US$/MT)^{(1) (2)}	5,584	5,914	-6%	5,889	6,448	-9%

Volume Sold	3Q19	3Q18	Var%	9M19	9M18	Var%
Consolidated Gold Oz ⁽¹⁾	48,003	81,427	-41%	129,444	263,034	-51%
Gold Oz Inc. Associated Companies⁽³⁾	132,649	171,139	-22%	357,559	475,381	-25%
Consolidated Silver Oz ⁽¹⁾	4,600,098	6,300,897	-27%	13,444,555	19,275,666	-30%
Consolidated Lead MT ⁽¹⁾	10,588	11,945	-11%	35,137	30,467	15%
Consolidated Zinc MT ⁽¹⁾	13,412	15,161	-12%	45,251	49,745	-9%
Consolidated Copper MT ⁽¹⁾	12,000	11,825	1%	29,507	32,242	-8%

(1)	Buenaventura Consolidated figure includes 100% of Buenaventura’s operating units, 100% of La Zanja and 100% of El Brocal.

(2)	The realized price takes into account the adjustments of quotational periods.

(3)	Considers 100% of Buenaventura’s operating units, 100% of La Zanja, 100% of El Brocal, 40.095% of Coimolache and 43.65% of Yanacocha.

Compañía de Minas Buenaventura S.A.A.

Third Quarter 2019 Results

Page 3 of 25

Production and Operating Costs

Buenaventura’s 3Q19 equity gold production was 121,466 ounces, compared to 161,186 reported in 3Q18, primarily due a 60% YoY decrease in production at Orcopampa related to prioritizing De-Bottlenecking over ore extraction and an anticipated 66% YoY decrease in production at La Zanja. Silver equity production decreased by 26% year on year, primarily due to a 31% decrease in production at the Tambomayo mine, due lower grades, and a 28% decrease at the Uchucchacua mine, also due to lower grades.

Buenaventura´s 9M19 equity gold production was 349,623 ounces, compared to 451,361 reported in 9M18. This was primarily due to a 73% YoY decrease in production at Orcopampa and a 51% YoY decrease in production at La Zanja. Silver equity production decreased by 31% year on year, primarily due to a 44% decrease in production at the Tambomayo mine and a 36% decrease at the Uchucchacua mine. Lead equity production increased by 7% year on year, primarily due to a 17% increase in production at the El Brocal mine.

Equity Production	3Q19	3Q18	Var%	9M19	9M18	Var%
Gold Oz Direct Operations⁽¹⁾	39,277	72,518	-46%	119,213	238,993	-50%
Gold Oz including Associated⁽²⁾ Companies	121,466	161,186	-25%	349,623	451,361	-23%
Silver Oz Direct Operations⁽¹⁾	4,610,266	6,370,003	-28%	13,466,680	19,664,298	-32%
Silver Oz including Associated Companies	4,994,392	6,720,995	-26%	14,505,596	20,982,583	-31%
Lead MT	9,185	11,094	-17%	30,444	28,360	7%
Zinc MT	13,088	15,491	-16%	42,018	47,672	-12%
Copper MT Direct Operations⁽¹⁾	7,853	7,715	2%	19,325	21,097	-8%
Copper MT including Associated Companies⁽³⁾	28,719	32,170	-11%	84,559	90,384	-6%

Consolidated Production	3Q19	3Q18	Var%	9M19	9M18	Var%
Gold Oz⁽⁴⁾	44,386	82,719	-46%	136,015	269,860	-50%
Silver Oz⁽⁴⁾	5,003,175	6,879,477	-27%	14,741,848	20,885,301	-29%
Lead MT⁽⁴⁾	10,879	13,711	-21%	37,299	34,231	9%
Zinc MT⁽⁴⁾	16,547	19,248	-14%	54,326	61,515	-12%
Copper MT⁽⁴⁾	12,754	12,529	2%	31,372	34,264	-8%

(1)	Buenaventura’s Direct Operations includes 100% of Buenaventura’s operating units, 53.06% of La Zanja and 61.43% of El Brocal.

(2)	Based on 100% of Buenaventura´s operating units, 53.06% of La Zanja, 61.43% of el Brocal, 40.095% of Coimolache and 43.65% of Yanacocha.

(3)	Based on 100% of Buenaventura´s operating units, 61.43% of el Brocal and 19.58% of Cerro Verde.

(4)	Based on 100% of Buenaventura’s operating units, 100% of La Zanja and 100% of El Brocal.

Compañía de Minas Buenaventura S.A.A.

Third Quarter 2019 Results

Page 4 of 25

Tambomayo (100% owned by Buenaventura)

Production
		3Q19			3Q18		Var %		9M19	9M18			Var %
Gold	Oz	21,740			33,279		-35%		70,384	98,145			-28%
Silver	Oz	641,247			929,949		-31%		1,714,523	3,056,558			-44%

Cost Applicable to Sales
			3Q19	3Q18		Var %		9M19			9M18	Var %
Gold	US$/Oz		695	642		8%		647			568	14%

3Q19 year on year gold production at Tambomayo decreased 35% mainly due to lower ore grades and reduced recovery rates. Cost Applicable to Sales (CAS) increased to 695 US$/Oz in 3Q19, compared to 642 US$/Oz in 3Q18, primarily due to a decrease in volume sold and an increase in commercial deductions.

Gold production guidance for 2019 is 90k – 110k ounces and silver production guidance is 2.5M – 3.0M ounces.

Orcopampa (100% owned by Buenaventura)

Production
		3Q19			3Q18		Var %		9M19	9M18			Var %
Gold	Oz	10,721			26,835		-60%		27,434	102,516			-73%
Silver	Oz	3,924			76,242		-95%		14,424	301,647			-95%

Cost Applicable to Sales
			3Q19	3Q18		Var %		9M19			9M18	Var %
Gold	US$/Oz		1,699	1,052		62%		1,776			931	91%

The decrease in 3Q19 gold production at Orcopampa was primarily due to prioritizing the De-Bottlenecking Program over ore extraction. Cost Applicable to Sales (CAS) increased to 1,699 US$/Oz in 3Q19, compared to 1,052 US$/Oz in 3Q18, primarily due to a decrease in volume sold.

Gold production guidance for 2019 is 37k – 45k ounces.

La Zanja (53.06% owned by Buenaventura)

Production
		3Q19			3Q18		Var %		9M19	9M18			Var %
Gold	Oz	6,224			18,147		-66%		25,283	51,529			-51%
Silver	Oz	20,384			50,038		-59%		80,988	163,067			-50%

Cost Applicable to Sales
			3Q19	3Q18		Var %		9M19			9M18	Var %
Gold	US$/Oz		1,039	849		22%		1,095			935	17%

3Q19 gold production decreased by 66% year on year, in line with the Company’s guidance released at the beginning of 2019. 3Q19 Cost Applicable to Sales (CAS) was 1,039 US$/Oz; a 22% increase compared to 849 US$/Oz in 3Q18, mainly due to lower volume sold (66%).

Gold production guidance for 2019 is 30k – 35k ounces.

Compañía de Minas Buenaventura S.A.A.

Third Quarter 2019 Results

Page 5 of 25

Coimolache (40.10% owned by Buenaventura)

Production
		3Q19	3Q18	Var %			9M19	9M18	Var %
Gold	Oz	49,683	54,011		-8	%	110,722	123,484		-10	%
Silver	Oz	239,053	235,866		1	%	460,980	598,503		-23	%

Cost Applicable to Sales
		3Q19	3Q18	Var %			9M19	9M18	Var %
Gold	US$/Oz	630	593		6	%	679	647		5	%

3Q19 gold production at Coimolache decreased by 8% year on year, in line with the mine production plan. 3Q19 Cost Applicable to Sales (CAS) was 630 US$/Oz; a 6% increase compared to 593 US$/Oz in 3Q18, mainly due to lower au grades.

Gold production guidance for 2019 is 150k – 170k ounces.

Uchucchacua (100% owned by Buenaventura)

Production
		3Q19	3Q18	Var %			9M19	9M18	Var %
Silver	Oz	2,684,854	3,744,036		-28	%	7,764,583	12,163,232		-36	%
Zinc	MT	5,101	6,556		-22	%	15,099	15,974		-5	%
Lead	MT	4,708	5,214		-10	%	13,461	14,161		-2	%
Cost Applicable to Sales
		3Q19	3Q18	Var %			9M19	9M18	Var %
Silver	US$/Oz	11.60	10.00		16	%	11.17	9.92		13	%

3Q19 silver production at Uchucchacua decreased 28% year on year, primarily due to reduced ore grades and reduced recovery rates. Cost Applicable to Sales (CAS) in 3Q19 increased in 16% in comparison to 3Q18, mainly due to lower volume sold (31%).

Silver production guidance for 2019 is 11.5 million – 12.5 million ounces.

Julcani (100% owned by Buenaventura)

Production
		3Q19	3Q18	Var %	9M19	9M18	Var %
Silver	Oz	658,883	692,728	-5%	1,959,780	1,817,159	8%

Cost Applicable to Sales
		3Q19	3Q18	Var %	9M19	9M18	Var %
Silver	US$/Oz	13.26	14.63	-9%	13.59	15.33	-11%

3Q19 silver production decreased 5% year on year, primarily due to reduced ore grades. 3Q19 Cost Applicable to Sales (CAS) of 13.26 US$/Oz was 9% lower than 14.63 US$/Oz in 3Q18, mainly due to the Company’s success in centralizing the operation.

Silver production guidance for 2019 is 2.2 million – 2.5 million ounces.

Compañía de Minas Buenaventura S.A.A.

Third Quarter 2019 Results

Page 6 of 25

El Brocal (61.43% owned by Buenaventura)

Production
		3Q19	3Q18	Var %	9M19	9M18	Var %
Copper	MT	12,707	12,483	2%	31,234	34,139	-9%
Zinc	MT	8,968	9,741	-8%	31,911	35,892	-11%
Silver	Oz	993,883	1,260,009	-21%	3,207,550	2,967,226	8%

Cost Applicable to Sales
		3Q19	3Q18	Var %	9M19	9M18	Var %
Copper	US$/MT	4,987	5,741	-13%	5,400	5,377	0%
Zinc	US$/MT	1,646	813	103%	2,007	1,516	32%

Copper production in 3Q19 was in line with the production reported in 3Q18. 3Q19 zinc production decreased by 8% year on year, mainly due to lower ore treated due to prioritizing the slope stability of the pit in the interest of safety.

In 3Q19, zinc Cost Applicable to Sales (CAS) increased by 103% year on year, compared to 813 US$/MT, primarily due to an increase in commercial deductions. Copper CAS in 3Q19 showed a decrease of 13% compared to 3Q18, mainly due to improved commercial terms.

Zinc production guidance for 2019 is 50k – 53k MT, while copper production guidance for 2019 is 47k – 52k MT.

De-Bottlenecking Program – 3Q19 Update

Buenaventura’s De-Bottlenecking Program continues to progress with positive results, generating additional EBITDA as follows:

Compañía de Minas Buenaventura S.A.A.

Third Quarter 2019 Results

Page 7 of 25

Reduced production due to the result of the Company’s De-Bottlenecking Program has been offset by lower operating costs resulting from increased profitability at its operations, in terms of EBITDA, while lower cut-off has increased the LOM. The Plan’s progress at Buenaventura’s Tambomayo, Uchucchacua and El Brocal operations is advancing as expected.

In the specific case of El Brocal, the cost reduction process is in line with expectations. However, this was adversely affected by a one-off event related to mechanical issues at its processing facilities which affected 3Q19 results. This should be normalized by the end of 2019.

Finally, costs at Buenaventura’s Orcopampa operations have not yet been stabilized due to one-off events during the year related to headcount reduction of Buenaventura and contracted employees. This should also be normalized by the end of 2019.

General and Administrative Expenses

3Q19 General and Administrative expenses were US$ 17.4 million; an 11% increase as compared to the US$ 15.8 million in 3Q18.

Exploration in Non-Operating Areas

3Q19 exploration costs in Non-Operating Areas were US$ 2.4 million compared with US$ 9.8 million in 3Q18. During the period, Buenaventura primarily focused its exploration efforts on the Emperatriz (US$ 0.5 million) and Marcapunta Norte (US$ 0.3 million).

Share in Associated Companies

During 3Q19, Buenaventura’s share in associated companies was US$ 37.8 million, compared to US$ 22.2 million reported in 3Q18, comprised of:

Share in the Result of Associates (in millions of US$)	3Q19	3Q18	Var	9M19	9M18	Var
Cerro Verde	8.9	18.3	-51%	58.6	82.4	-29%
Coimolache	23.4	-0.9	N.A.	44.3	-20.2	N.A.
Yanacocha	5.4	4.7	16%	7.1	9.0	-21%
Others	0.2	0.0	N.A.	-0.3	0.0	N.A.
Total	37.8	22.2	71%	110.0	71.2	55%

YANACOCHA

At Yanacocha, which is 43.65% owned by Buenaventura, 3Q19 gold production was 142,654 ounces; 65,004 ounces of which were attributable to Buenaventura. This represents a 5% decrease as compared to the 153,523 ounces produced in 3Q18; 68,163 ounces of which were attributable to Buenaventura. For 9M19, gold production was 426,153; 184,209 ounces of which were attributable to Buenaventura, a 14% increase as compared to 373,099 ounces in 9M18; 164,169 ounces of which were attributable to Buenaventura.

Gold production guidance at Yanacocha for 2019 is 510k ounces.

Compañía de Minas Buenaventura S.A.A.

Third Quarter 2019 Results

Page 8 of 25

In 3Q19, Yanacocha reported a net income of US$ 53.7 million, compared to a net loss of US$ 1.9 million reported in 3Q18.

CAS in 3Q19 was US$ 741/oz; in line with the same figure reported in 3Q18 (US$ 756/oz).

Capital expenditures at Yanacocha were US$ 45.2 million in 3Q19.

The Quecher Main project, an oxide deposit, is currently in its Execution Phase. Commercial production is expected to be reached in the fourth quarter of 2019. The Quecher Main project extends the life of the Yanacocha operation until 2027, with average annual gold production of 200,000 ounces per year expected between 2020 and 2025. Cost applicable to sales (CAS) is expected to be between US$ 750 and US$ 850 per ounce and AISC between US$ 900 and US$ 1,000. Total CAPEX for the project is expected to be between US$ 250 and US$ 300 million with US$ 95 to US$ 105 million allocated in 2019. The project IRR is expected to be greater than 10 percent.

The Yanacocha Sulfides project is currently in its Definitive Feasibility Stage. In March of 2019, the Environmental Impact Assessment study was approved.

CERRO VERDE

At Cerro Verde (19.58% owned by Buenaventura), 3Q19 copper production was 106,567 MT; 20,866 MT of which is attributable to Buenaventura; a 15% decrease from 124,902 MT produced in 3Q18, 24,456 MT of which was attributable to Buenaventura. 9M19 copper production was 333,163 MT, 65,233 MT of which was attributable to Buenaventura. 9M18 copper production was 353,865 MT; 69,287 MT of which was attributable to Buenaventura.

Cerro Verde reported a 3Q19 net income of US$ 45.5 million compared to net income of US$ 93.6 million in 3Q18. This reduction is mainly explained by lower volume sold and lower realized price (US$ 2.47 per pound vs US$ 2.63 per pound).

Capital expenditures at Cerro Verde were US$ 54.8 million in 2Q19.

COIMOLACHE (Tantahuatay operation)

At Coimolache (40.10% owned by Buenaventura), 3Q19 attributable contribution to net income was US$ 5.4 million, as compared to US$ 4.7 million in 3Q18.

Other

During the October 29, 2019 Board Meeting of Directors the following resolution was passed: Declaration of a cash dividend in the amount of US$ 0.027 per share or ADS. The record date is November 20, 2019 to be paid to shareholders on December 4, 2019.

Compañía de Minas Buenaventura S.A.A.

Third Quarter 2019 Results

Page 9 of 25

***

Company Description

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*, Uchucchacua*, Mallay*, Julcani*, El Brocal, La Zanja and Coimolache and is developing the Tambomayo project.

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.

For a printed version of the Company’s 2018 Form 20-F, please contact the investor relations contacts on page 1 of this report, or download the PDF format file from the Company’s web site at www.buenaventura.com.

(*) 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.

Compañía de Minas Buenaventura S.A.A.

Third Quarter 2019 Results

Page 10 of 25

**Tables to follow**

APPENDIX 1

Equity Participation in Subsidiaries and Associates (as of June 30, 2019)
	BVN	Operating
	Equity %	Mines / Business
El Molle Verde S.A.C*	100.00	Trapiche Project
Minera La Zanja S.A*	53.06	La Zanja
Sociedad Minera El Brocal S.A.A*	61.43	Colquijirca and Marcapunta
Compañía Minera Coimolache S.A. **	40.10	Tantahuatay
Minera Yanacocha S.R.L. **	43.65	Yanacocha
Sociedad Minera Cerro Verde S.A.A **	19.58	Cerro Verde
Processadora Industrial Rio Seco S.A*	100.00	Rio Seco chemical plant
Consorcio Energético de Huancavelica S.A*	100.00	Energy – Huanza Hydroelectrical plant

(*)Consolidated

(**) Equity Accounting

Compañía de Minas Buenaventura S.A.A.

Third Quarter 2019 Results

Page 11 of 25

APPENDIX 2

3Q19

Gold Production			15			18
Mining Unit	Operating Results	Unit	3Q19	3Q18	△%	9M19	9M18	△ %
Underground
Tambomayo	Ore Milled	DMT	154,461	143,601	8%	458,555	415,780	10%
	Ore Grade	Oz/MT	0.17	0.25	-31%	0.19	0.25	-27%
	Recovery Rate	%	80.65	92.01	-12%	82.91	92.01	-10%
	Ounces Produced*	Oz	21,740	33,279	-35%	70,384	98,145	-28%
Orcopampa	Ore Milled	DMT	28,704	72,418	-60%	91,096	310,046	-71%
	Ore Grade	Oz/MT	0.38	0.37	2%	0.31	0.33	-7%
	Recovery Rate	%	96.90	97.35	0%	96.66	97.30	-1%
	Ounces Produced*	Oz	10,721	26,835	-60%	27,434	102,516	-73%
Open Pit
La Zanja	Ounces Produced	Oz	6,224	18,147	-66%	25,283	51,529	-51%
Tantahuatay	Ounces Produced	Oz	49,683	54,011	-8%	110,722	123,484	-10%
(*) Includes ounces from retreatment of tailing dams

Silver Production
Mining Unit	Operating Results	Unit	3Q19	3Q18	△%	9M19	9M18	△ %
Underground
Tambomayo	Ore Milled	DMT	154,461	143,601	8%	458,555	415,780	10%
	Ore Grade	Oz/MT	4.82	7.46	-35%	4.26	8.56	-50%
	Recovery Rate	%	86.20	86.75	-1%	87.74	85.05	3%
	Ounces Produced	Oz	641,247	929,949	-31%	1,714,523	3,056,558	-44%
Uchucchacua	Ore Milled	DMT	362,020	359,652	1%	961,053	1,032,426	-7%
	Ore Grade	Oz/MT	9.03	11.56	-22%	9.37	13.31	-30%
	Recovery Rate	%	82.16	89.95	-9%	86.25	86.66	0%
	Ounces Produced	Oz	2,684,854	3,744,036	-28%	7,764,583	12,163,232	-36%
Julcani	Ore Milled	DMT	31,507	29,055	8%	92,550	80,140	15%
	Ore Grade	Oz/MT	21.65	24.45	-11%	21.98	23.26	-6%
	Recovery Rate	%	96.59	97.54	-1%	96.34	97.32	-1%
	Ounces Produced	Oz	658,883	692,728	-5%	1,959,780	1,817,159	8%
Marcapunta	Ore Milled	DMT	767,096	892,731	-14%	2,116,351	2,296,665	-8%
	Ore Grade	Oz/MT	0.90	0.72	24%	0.79	0.73	9%
	Recovery Rate	%	61.70	58.90	5%	61.93	61.39	1%
	Ounces Produced	Oz	423,778	381,209	11%	1,040,034	1,028,868	1%
Open Pit
Tajo Norte	Ore Milled	DMT	636,418	863,855	-26%	2,590,782	2,605,547	-1%
	Ore Grade	Oz/MT	1.49	1.48	1%	1.32	1.14	17%
	Recovery Rate	%	60.16	68.71	-12%	63.21	65.54	-4%
	Ounces Produced	Oz	570,105	878,800	-35%	2,167,515	1,938,358	12%

Compañía de Minas Buenaventura S.A.A.

Third Quarter 2019 Results

Page 12 of 25

Zinc Production
Mining Unit	Operating Results	Unit	3Q19	3Q18	△%	9M19	9M18	△ %
Underground
Tambomayo	Ore Milled	DMT	154,461	143,601	8%	458,555	415,780	10%
	Ore Grade	%	2.02	2.16	-7%	2.05	2.20	-7%
	Recovery Rate	%	79.38	65.85	21%	77.86	71.37	9%
	MT Produced	MT	2,478	2,046	21%	7,316	6,606	11%
Uchucchacua	Ore Milled	DMT	362,020	359,652	1%	961,053	1,032,426	-7%
	Ore Grade	%	2.23	2.44	-9%	2.41	2.23	8%
	Recovery Rate	%	63.25	74.33	-15%	65.15	69.08	-6%
	MT Produced	MT	5,101	6,556	-22%	15,099	15,974	-5%
Open Pit
Tajo Norte	Ore Milled	DMT	636,418	863,855	-26%	2,590,782	2,605,547	-1%
	Ore Grade	%	2.68	2.05	31%	2.26	2.35	-4%
	Recovery Rate	%	52.60	54.96	-4%	54.45	58.58	-7%
	MT Produced	MT	8,968	9,741	-8%	31,911	35,892	-11%


Copper Production
Mining Unit	Operating Results	Unit	3Q19	3Q18	△%	9M19	9M18	△ %
Underground
Marcapunta	Ore Milled	DMT	767,096	892,731	-14%	2,116,351	2,296,665	-8%
	Ore Grade	%	1.87	1.56	20%	1.68	1.63	3%
	Recovery Rate	%	88.76	89.82	-1%	88.01	91.05	-3%
	MT Produced	MT	12,707	12,483	2%	31,234	34,139	-9%

APPENDIX 3: Adjusted EBITDA Reconciliation (in thousand US$)

	3Q19	3Q18	9M19	9M18
Net Income	737	-14,185	30,415	55,678
Add / Subtract:	55,100	74,974	97,936	191,057
Depreciation and Amortization	60,211	62,995	168,729	176,730
Interest expense	11,994	9,990	33,679	28,283
Provision of bonuses and compensations	2,276	4,295	12,058	12,851
Profit from discontinued operations	2,129	3,082	6,643	4,573
Impairment of inventories	1,105	6,636	-1,017	6,983
Loss on currency exchange difference	1,455	482	1,672	40
Workers´ participation provision	0	-1,226	18	844
Share in associated companies by the equity method, net	-37,771	-22,151	-109,988	-71,173
Provision for income tax, net	16,139	-136	-6,113	23,366
Interest income	-1,611	-1,604	-5,656	-3,781
Provision for contingencies	-827	11,477	-2,089	11,207
Write-off of tailings dam	-	1,134	-	1,134
EBITDA Buenaventura Direct Operations	55,837	60,789	128,351	246,735
EBITDA Yanacocha (43.65%)	49,434	24,963	119,163	42,311
EBITDA Cerro Verde (19.58%)	35,298	51,591	164,303	195,443
EBITDA Coimolache (40.095%)	17,954	13,443	32,345	30,471
EBITDA Buenaventura + All Associates	158,523	150,786	444,162	514,959

Compañía de Minas Buenaventura S.A.A.

Third Quarter 2019 Results

Page 13 of 25

Note:

EBITDA (Buenaventura Direct Operations) consists of earnings before net interest, taxes, depreciation and amortization, share in associated companies, net, loss on currency exchange difference, other, net, provision for workers’ profit sharing and provision for long-term officers’ compensation.

EBITDA (including associated companies) consists of EBITDA (Buenaventura Direct Operations), plus (1) Buenaventura’s equity share of EBITDA (Yanacocha) (2) Buenaventura’s equity share of EBITDA (Cerro Verde), plus (3) Buenaventura’s equity share of EBITDA (Coimolache). All EBITDA mentioned were similarly calculated using financial information provided to Buenaventura by the associated companies.

Buenaventura presents EBITDA (Buenaventura Direct Operations) and EBITDA (including affiliates) to provide further information with respect to its operating performance and the operating performance of its equity investees, the affiliates. EBITDA (Buenaventura Direct Operations) and EBITDA (including affiliates) are not a measure of financial performance under IFRS, and may not be comparable to similarly titled measures of other companies. You should not consider EBITDA (Buenaventura Direct Operations) and EBITDA (including affiliates) as alternatives to operating income or net income determined in accordance with IFRS, as an indicator of Buenaventura’s, affiliates operating performance, or as an alternative to cash flows from operating activities, determined in accordance with IFRS, as an indicator of cash flows or as a measure of liquidity.

APPENDIX 4: COST APPLICABLE TO SALES RECONCILIATION

Reconciliation of Costs Applicable to Sales and Cost Applicable to Sales per Unit Sold

Cost applicable to sales consists of cost of sales, excluding depreciation and amortization, plus selling expenses. Cost applicable to sales per unit sold for each mine consists of cost applicable to sales for a particular metal produced at a given mine divided by the volume of such metal produced at such mine in the specified period. We note that cost applicable to sales is not directly comparable to the cash operating cost figures disclosed in previously furnished earnings releases.

Cost applicable to sales and Cost applicable to sales per unit of mineral sold are not measures of financial performance under IFRS, and may not be comparable to similarly titled measures of other companies. We consider Cost applicable to sales and Cost applicable to sales per unit of mineral sold to be key measures in managing and evaluating our operating performance. These measures are widely reported in the precious metals industry as a benchmark for performance, but do not have standardized meanings. You should not consider Cost applicable to sales or Cost applicable to sales per unit of mineral sold as alternatives to cost of sales determined in accordance with IFRS, as indicators of our operating performance. Cost applicable to sales and Cost applicable to sales per unit of mineral sold are calculated without adjusting for by-product revenue amounts.

The tables below set forth (i) a reconciliation of consolidated Cost of sales, excluding depreciation and amortization to consolidated Cost applicable to sales, (ii) reconciliations of the components of Cost applicable to sales (by mine and mineral) to the corresponding consolidated line items set forth on our consolidated statements of profit or loss for the three and nine months ended September 30, 2015 and 2016, and (iii) reconciliations of Cost of sales, excluding depreciation and amortization to Cost applicable to sales for each of our mining units. The amounts set forth in Cost applicable to sales and Cost applicable to sales per unit sold for each mine and mineral indicated in the tables below can be reconciled to the amounts set forth on our consolidated statements of profit or loss for the three and nine months ended September 30, 2015 and 2016 by reference to the reconciliations of Cost of sales, excluding depreciation and amortization (by mine and mineral), Selling Expenses (by mine and metal) expenses and Exploration in units in operations (by mine and mineral) to consolidated Cost of sales, excluding depreciation and amortization, consolidated Selling Expenses and consolidated Exploration in units in operations expenses, respectively, set forth below.

Compañía de Minas Buenaventura S.A.A.

Third Quarter 2019 Results

Page 14 of 25

Set forth below is a reconciliation of consolidated Cost of sales, excluding depreciation and amortization,
to consolidated Cost applicable to sales:

	For the 3 months ended September 30				For the 9 months ended September 30
	2019		2018		2019		2018
	(in thousands of US$)
Consolidated Cost of sales excluding depreciation and amortization		129,237		153,618		373,062		459,739
Add:
Consolidated Exploration in units in operation		10,119		22,112		34,829		69,070
Consolidated Commercial deductions		52,510		46,686		154,041		143,118
Consolidated Selling expenses		6,195		7,437		16,486		19,935
Consolidated Cost applicable to sales		198,061		229,853		578,418		691,862

Set forth below is a reconciliation of Cost of sales, excluding depreciation and amortization
(by mine and mineral) to consolidated Cost of sales:

	For the 3 months ended September 30				For the 9 months ended September 30
		2019		2018		2019		2018
Cost of sales by mine and mineral	(in thousands of US$)
Julcani, Gold		3		0		20		19
Julcani, Silver		6,152		6,225		18,433		17,396
Julcani, Lead		274		306		770		1,032
Julcani, Copper		16		38		48		67
Orcopampa, Gold		17,444		22,078		38,407		70,638
Orcopampa, Silver		88		936		197		2,720
Orcopampa, Copper		0		-193		0		-77
Uchucchacua, Gold		0		-4		0		41
Uchucchacua, Silver		19,642		23,236		55,431		74,413
Uchucchacua, Lead		3,665		4,337		11,113		11,796
Uchucchacua, Zinc		3,235		5,065		14,808		14,555
Tambomayo, Gold		14,609		16,397		34,147		42,764
Tambomayo, Silver		4,675		5,087		9,859		16,071
Tambomayo, Zinc		1,614		726		5,782		5,110
Tambomayo, Lead		1,625		1,236		3,803		1,986
La Zanja, Gold		6,483		15,360		26,461		49,704
La Zanja, Silver		225		499		896		1,995
El Brocal, Gold		2,594		1,514		5,387		6,057
El Brocal, Silver		6,103		6,668		18,944		13,786
El Brocal, Lead		3,433		5,184		15,041		12,115
El Brocal, Zinc		6,596		5,608		31,845		32,500
El Brocal, Copper		29,776		32,967		78,836		81,799
Other Small Units, Gold
Other Small Units, Silver
Other Small Units, Lead
Other Small Units, Zinc
Non Mining Units		985		347		2,833		3,253
Consolidated Cost of sales, excluding depreciation and amortization		129,237		153,618		373,062		459,739

Set forth below is a reconciliation of Exploration expenses in units in operation (by mine and mineral) to consolidated Exploration expenses in mining units:

	For the 3 months ended September 30				For the 9 months ended September 30
		2019		2018		2019		2018
Exploration expenses in units in operation by mine and mineral	(in thousands of US$)
Julcani, Gold		1		0		5		7
Julcani, Silver		1,457		2,094		4,305		6,361
Julcani, Lead		65		103		180		377
Julcani, Copper		4		13		11		25
Orcopampa, Gold		1,572		7,231		7,670		24,211
Orcopampa, Silver		8		306		39		932
Orcopampa, Copper		0		-63		0		-26
Uchucchacua, Gold		0		-1		0		6
Uchucchacua, Silver		1,231		3,300		4,692		11,610
Uchucchacua, Lead		230		616		941		1,840
Uchucchacua, Zinc		203		719		1,253		2,271
Tambomayo, Gold		1,848		3,568		5,940		8,817
Tambomayo, Silver		591		1,107		1,715		3,313
Tambomayo, Lead		204		158		662		409
Tambomayo, Zinc		205		269		1,006		1,054
La Zanja, Gold		0		5		1		69
La Zanja, Silver		0		0		0		3
El Brocal, Gold		134		78		230		323
El Brocal, Silver		315		345		809		734
El Brocal, Lead		177		268		642		645
El Brocal, Zinc		340		290		1,360		1,731
El Brocal, Copper		1,535		1,705		3,367		4,357
Non Mining Units		0		0		0		0
Consolidated Exploration expenses in units in operation		10,119		22,112		34,829		69,070

Compañía de Minas Buenaventura S.A.A.

Third Quarter 2019 Results

Page 15 of 25

Set forth below is a reconciliation of Commercial Deductions in units in operation (by mine and mineral)
to consolidated Commercial deductions:

	For the 3 months ended September 30				For the 9 months ended September 30
	2019		2018		2019		2018
Commercial Deductions in units in operation by mine and mineral	(in thousands of US$)
Julcani, Gold		0		0		2		3
Julcani, Silver		906		923		2,401		2,584
Julcani, Lead		39		48		99		153
Julcani, Copper		3		5		8		9
Mallay, Gold		0		0		0		0
Mallay, Silver		0		0		0		0
Mallay, Lead		0		0		0		0
Mallay, Zinc		0		0		0		0
Orcopampa, Gold		73		109		102		709
Orcopampa, Silver		2		19		1		110
Orcopampa, Copper		0		-18		0		3
Uchucchacua, Gold		1		-2		-1		7
Uchucchacua, Silver		5,903		6,878		17,349		23,669
Uchucchacua, Lead		749		643		1,983		2,494
Uchucchacua, Zinc		1,550		1,114		7,791		5,741
Tambomayo, Gold		1,364		89		3,874		328
Tambomayo, Silver		1,105		258		2,721		849
Tambomayo, Lead		324		300		1,050		549
Tambomayo, Zinc		1,570		337		4,846		1,298
La Zanja, Gold		18		65		85		267
La Zanja, Silver		0		8		2		20
El Brocal, Gold		2,334		1,480		4,919		5,969
El Brocal, Silver		3,785		2,643		10,272		6,586
El Brocal, Lead		873		598		3,842		1,702
El Brocal, Zinc		5,042		28		19,592		8,352
El Brocal, Copper		26,870		31,161		73,104		81,723
Non Mining Units		0		0		0		0
Consolidated Commercial deductions in units in operation		52,510		46,686		154,041		143,118

Set forth below is a reconciliation of Selling expenses (by mine and mineral) to consolidated
Selling expenses:

	For the 3 months ended September 30				For the 9 months ended September 30
		2019		2018		2019		2018
Selling expenses by mine and mineral	(in thousands of US$)
Julcani, Gold		0		0		0		0
Julcani, Silver		96		112		265		222
Julcani, Lead		4		5		11		13
Julcani, Copper		0		1		1		1
Orcopampa, Gold		79		176		165		613
Orcopampa, Silver		0		7		1		24
Orcopampa, Copper		0		-2		0		-1
Uchucchacua, Gold		0		0		0		2
Uchucchacua, Silver		1,254		1,742		2,653		4,343
Uchucchacua, Lead		234		325		532		688
Uchucchacua, Zinc		206		380		709		849
Tambomayo, Gold		647		544		1,555		1,237
Tambomayo, Silver		207		169		449		465
Tambomayo, Lead		72		24		173		57
Tambomayo, Zinc		72		41		263		148
La Zanja, Gold		83		210		261		574
La Zanja, Silver		3		7		9		23
El Brocal, Gold		143		92		271		384
El Brocal, Silver		336		405		952		875
El Brocal, Lead		189		315		755		769
El Brocal, Zinc		363		341		1,600		2,062
El Brocal, Copper		1,639		2,003		3,960		5,191
Non Mining Units		567		540		1,901		1,395
Consolidated Selling expenses		6,195		7,437		16,486		19,935

Compañía de Minas Buenaventura S.A.A.

Third Quarter 2019 Results

Page 16 of 25

						JULCANI
				3Q 2019						3Q 2018
	GOLD (OZ)	SILVER (OZ)	LEAD (MT)	ZINC (MT)	COPPER (MT)	TOTAL	GOLD (OZ)	SILVER (OZ)	LEAD (MT)	ZINC (MT)	COPPER (MT)	TOTAL
Cost of Sales (without D&A) (US$000)	3	6,152	274	-	16	6,445	-	6,225	306	-	38	6,569
Add:
Exploration Expenses (US$000)	1	1,457	65	-	4	1,526	-	2,094	103	-	13	2,210
Commercial Deductions (US$000)	0	906	39	-	3	948	0	923	48	-	5	976
Selling Expenses (US$000)	0	96.40	4.30	-	0	101	-	112	5	-	1	118
Cost Applicable to Sales (US$000)	4	8,610	383	-	23	9,020	0	9,354	462	-	56	9,873
Divide:
Volume Sold	0	649,276	256	-	6	Not Applicable	-	639,454	235	-	7	Not Applicable
CAS	12,347	13.26	1,495	-	3,977	Not Applicable	-	14.63	1,968	-	8,616	Not Applicable

						ORCOPAMPA
				3Q 2019						3Q 2018
	GOLD (OZ)	SILVER (OZ)	LEAD (MT)	ZINC (MT)	COPPER (MT)	TOTAL	GOLD (OZ)	SILVER (OZ)	LEAD (MT)	ZINC (MT)	COPPER (MT)	TOTAL
Cost of Sales (without D&A) (US$000)	17,444	88	-	-	-	17,532	22,078	936	-	-	-193	22,821
Add:					-
Exploration Expenses (US$000)	1,572	8	-	-	-	1,580	7,231	306	-	-	-63	7,474
Commercial Deductions (US$000)	73	2	-	-	-	74	109	19	-	-	-18	110
Selling Expenses (US$000)	79	0	-	-	-	79	176	7	-	-	-2	182
Cost Applicable to Sales (US$000)	19,167	98	-	-	-	19,265	29,594	1,269	-	-	-276	30,587
Divide:
Volume Sold	11,283	4,544	-	-	-	Not Applicable	28,144	97,010	-	-	2	Not Applicable
CAS	1,699	21.62	-	-	-	Not Applicable	1,052	13.08	-	-	-	Not Applicable

						UCHUCCHACUA
				3Q 2019						3Q 2018
	GOLD (OZ)	SILVER (OZ)	LEAD (MT)	ZINC (MT)	COPPER (MT)	TOTAL	GOLD (OZ)	SILVER (OZ)	LEAD (MT)	ZINC (MT)	COPPER (MT)	TOTAL
Cost of Sales (without D&A) (US$000)	-	19,642	3,665	3,235	-	26,542	-4	23,236	4,337	5,065	-	32,634
Add:
Exploration Expenses (US$000)	-	1,231	230	203	-	1,664	-1	3,300	616	719	-	4,635
Commercial Deductions (US$000)	1	5,903	749	1,550	-	8,203	-2	6,878	643	1,114	-	8,632
Selling Expenses (US$000)	-	1,254	234	206	-	1,694	-0	1,742	325	380	-	2,446
Cost Applicable to Sales (US$000)	1	28,029	4,878	5,194	-	38,103	-7	35,156	5,921	7,278	-	48,347
Divide:
Volume Sold	-	2,415,985	4,072	3,843	-	Not Applicable	50	3,515,670	4,697	4,898	-	Not Applicable
CAS	-	11.60	1,198	1,352	-	No Applicable	-	10.00	1,261	1,486	-	No Applicable

						TAMBOMAYO
				3Q 2019						3Q 2018
	GOLD (OZ)	SILVER (OZ)	LEAD (MT)	ZINC (MT)	COPPER (MT)	TOTAL	GOLD (OZ)	SILVER (OZ)	LEAD (MT)	ZINC (MT)	COPPER (MT)	TOTAL
Cost of Sales (without D&A) (US$000)	14,609	4,675	1,614	1,625	-	22,523	16,397	5,087	726	1,236	-	23,446
Add:
Exploration Expenses (US$000)	1,848	591	204	205	-	2,849	3,568	1,107	158	269	-	5,102
Commercial Deductions (US$000)	1,364	1,105	324	1,570	-	4,363	89	258	300	337	-	984
Selling Expenses (US$000)	647	207	72	72	-	998	544	169	24	41	-	778
Cost Applicable to Sales (US$000)	18,469	6,579	2,213	3,472	-	30,733	20,599	6,621	1,207	1,883	-	30,310
Divide:
Volume Sold	26,568	705,669	2,084	2,070	-	Not Applicable	32,101	926,741	1,006	1,830	-	Not Applicable
CAS	695	9.32	1,062	1,677	-	No Applicable	642	7.14	1,200	1,029	-	No Applicable

						LA ZANJA				3Q 2018
				3Q 2019
	GOLD (OZ)	SILVER (OZ)	LEAD (MT)	ZINC (MT)	COPPER (MT)	TOTAL	GOLD (OZ)	SILVER (OZ)	LEAD (MT)	ZINC (MT)	COPPER (MT)	TOTAL
Cost of Sales (without D&A) (US$000)	6,483	225	-	-	-	6,708	15,360	499	-	-	-	15,859
Add:
Exploration Expenses (US$000)	-	-	-	-	-	-	5	0	-	-	-	5
Commercial Deductions (US$000)	18	0	-	-	-	18	65	8	-	-	-	73
Selling Expenses (US$000)	83	3	-	-	-	86	210	7	-	-	-	217
Cost Applicable to Sales (US$000)	6,584	228	-	-	-	6,812	15,639	515	-	-	-	16,154
Divide:
Volume Sold	6,335	19,924	-	-	-	Not Applicable	18,419	46,130	-	-	-	Not Applicable
CAS	1,039	11.44	-	-	-	Not Applicable	849	11.16	-	-	-	Not Applicable

						JULCANI
				9M 2019						9M 2018
	GOLD (OZ)	SILVER (OZ)	LEAD (MT)	ZINC (MT)	COPPER (MT)	TOTAL	GOLD (OZ)	SILVER (OZ)	LEAD (MT)	ZINC (MT)	COPPER (MT)	TOTAL
Cost of Sales (without D&A) (US$000)	20	18,433	770	-	48	19,272	19	17,396	1,032	-	67	18,514
Add:
Exploration Expenses (US$000)	5	4,305	180	-	11	4,501	7	6,361	377	-	25	6,770
Commercial Deductions (US$000)	2	2,401	99	-	8	2,510	3	2,584	153	-	9	2,749
Selling Expenses (US$000)	0	265	11	-	1	277	0	222	13	-	1	236
Cost Applicable to Sales (US$000)	28	25,404	1,060	-	68	26,560	28	26,563	1,576	-	102	28,269
Divide:
Volume Sold	17	1,868,683	645	-	14	Not Applicable	11	1,733,159	678	-	13	No Aplicable
CAS	1,625	13.59	1,642	-	4,906	No Applicable	2,518	15.33	2,323	-	7,807	No Applicable

						ORCOPAMPA
				9M 2019						9M 2018
	GOLD (OZ)	SILVER (OZ)	LEAD (MT)	ZINC (MT)	COPPER (MT)	TOTAL	GOLD (OZ)	SILVER (OZ)	LEAD (MT)	ZINC (MT)	COPPER (MT)	TOTAL
Cost of Sales (without D&A) (US$000)	38,407	197	-	-	-	38,604	70,638	2,720	-	-	-77	73,281
Add:
Exploration Expenses (US$000)	7,670	39	-	-	-	7,709	24,211	932	-	-	-26	25,117
Commercial Deductions (US$000)	102	1	-	-	-	103	709	110	-	-	-3	816
Selling Expenses (US$000)	165	1	-	-	-	166	613	24	-	-	-1	636
Cost Applicable to Sales (US$000)	46,344	239	-	-	-	46,582	96,171	3,786	-	-	-107	99,850
Divide:
Volume Sold	26,102	11,200	-	-	-	Not Applicable	103,314	323,631	-	-	42	Not Applicable
CAS	1,776	21.30	-	-	-	No Applicable	931	11.70	-	-	-	No Applicable

						UCHUCCHACUA
				9M 2019						9M 2018
	GOLD (OZ)	SILVER (OZ)	LEAD (MT)	ZINC (MT)	COPPER (MT)	TOTAL	GOLD (OZ)	SILVER (OZ)	LEAD (MT)	ZINC (MT)	COPPER (MT)	TOTAL
Cost of Sales (without D&A) (US$000)	-	55,431	11,113	14,808	-	81,352	41	74,413	11,796	14,555	-	100,804
Add:
Exploration Expenses (US$000)	-	4,692	941	1,253	-	6,886	6	11,610	1,840	2,271	-	15,727
Commercial Deductions (US$000)	-1	17,349	1,983	7,791	-	27,121	7	23,669	2,494	5,741	-	31,910
Selling Expenses (US$000)	-	2,653	532	709	-	3,894	2	4,343	688	849	-	5,883
Cost Applicable to Sales (US$000)	-1	80,125	14,568	24,561	-	119,253	56	114,034	16,818	23,416	-	154,324
Divide:
Volume Sold	0	7,173,934	11,877	12,104	-	Not Applicable	207	11,494,222	12,518	12,483	-	Not Applicable
CAS	-	11.17	1,227	2,029	-	No Applicable	272	9.92	1,344	1,876	-	No Applicable

						TAMBOMAYO
				9M 2019						9M 2018
	GOLD (OZ)	SILVER (OZ)	LEAD (MT)	ZINC (MT)	COPPER (MT)	TOTAL	GOLD (OZ)	SILVER (OZ)	LEAD (MT)	ZINC (MT)	COPPER (MT)	TOTAL
Cost of Sales (without D&A) (US$000)	34,147	9,859	3,803	5,782	-	53,592	42,764	16,071	1,986	5,110	-	65,931
Add:
Exploration Expenses (US$000)	5,940	1,715	662	1,006	-	9,323	8,817	3,313	409	1,054	-	13,593
Commercial Deductions (US$000)	3,874	2,721	1,050	4,846	-	12,491	328	849	549	1,298	-	3,025
Selling Expenses (US$000)	1,555	449	173	263	-	2,441	1,237	465	57	148	-	1,907
Cost Applicable to Sales (US$000)	45,517	14,744	5,688	11,898	-	77,847	53,146	20,698	3,002	7,610	-	84,456
Divide:
Volume Sold	70,396	1,694,588	5,429	6,050	-	Not Applicable	93,520	2,907,404	2,560	5,374	-	Not Applicable
CAS	647	8.70	1,048	1,967	-	No Applicable	568	7.12	1,173	1,416	-	Not Applicable

373062						LA ZANJA
				9M 2019						9M 2018
	GOLD (OZ)	SILVER (OZ)	LEAD (MT)	ZINC (MT)	COPPER (MT)	TOTAL	GOLD (OZ)	SILVER (OZ)	LEAD (MT)	ZINC (MT)	COPPER (MT)	TOTAL
Cost of Sales (without D&A) (US$000)	26,461	896	-	-	-	27,357	49,704	1,995	-	-	-	51,699
Add:
Exploration Expenses (US$000)	1	0	-	-	-	1	69	3	-	-	-	72
Commercial Deductions (US$000)	85	2	-	-	-	87	267	20	-	-	-	287
Selling Expenses (US$000)	261	9	-	-	-	270	574	23	-	-	-	597
Cost Applicable to Sales (US$000)	26,808	907	-	-	-	27,715	50,614	2,041	-	-	-	52,655
Divide:
Volume Sold	24,477	71,158	-	-	-	Not Applicable	54,136	169,748	-	-	-	Not Applicable
CAS	1,095	12.74	-	-	-	No Applicable	935	12.02	-	-	-	Not Applicable

Compañía de Minas Buenaventura S.A.A.

Third Quarter 2019 Results

Page 17 of 25

						BROCAL
				3Q 2019						3Q 2018
	GOLD (OZ)	SILVER (OZ)	LEAD (MT)	ZINC (MT)	COPPER (MT)	TOTAL	GOLD (OZ)	SILVER (OZ)	LEAD (MT)	ZINC (MT)	COPPER (MT)	TOTAL
Cost of Sales (without D&A) (US$000)	2,594	6,103	3,433	6,596	29,776	48,502	1,514	6,668	5,184	5,608	32,967	51,942
Add:
Exploration Expenses (US$000)	134	315	177	340	1,535	2,500	78	345	268	290	1,705	2,686
Commercial Deductions (US$000)	2,334	3,785	873	5,042	26,870	38,904	1,480	2,643	598	28	31,161	35,911
Selling Expenses (US$000)	143	336	189	363	1,639	2,670	92	405	315	341	2,003	3,156
Cost Applicable to Sales (US$000)	5,205	10,538	4,672	12,341	59,820	92,576	3,165	10,061	6,365	6,267	67,836	93,695
Divide:
Volume Sold	3,817	804,700	4,176	7,499	11,995	Not Applicable	2,685	974,775	5,636	7,712	11,816	Not Applicable
CAS	1,364	13.10	1,119	1,646	4,987	Not Applicable	1,179	10.32	1,129	813	5,741	Not Applicable

Prorrateo	5%	13%	7%	14%	61%		3%	13%	10%	11%	63%

	NON MINING COMPANIES
				3Q 2019						3Q 2018
	GOLD (OZ)	SILVER (OZ)	LEAD (MT)	ZINC (MT)	COPPER (MT)	TOTAL	GOLD (OZ)	SILVER (OZ)	LEAD (MT)	ZINC (MT)	COPPER (MT)	TOTAL
Cost of Sales (without D&A) (US$000)	-	-	-	-	-	985	-	-	-	-	-	347
Add:						-						-
Selling Expenses (US$000)	-	-	-	-	-	567	-	-	-	-	-	540
Total (US$000)	-	-	-	-	-	1,552	-	-	-	-	-	887

	BUENAVENTURA CONSOLIDATED
				3Q 2019						3Q 2018
	GOLD (OZ)	SILVER (OZ)	LEAD (MT)	ZINC (MT)	COPPER (MT)	TOTAL	GOLD (OZ)	SILVER (OZ)	LEAD (MT)	ZINC (MT)	COPPER (MT)	TOTAL
Cost of Sales (without D&A) (US$000)	41,134	36,884	8,987	11,456	29,792	129,237	55,345	42,651	10,553	11,910	32,812	153,618
Add:
Exploration Expenses (US$000)	3,554	3,602	676	748	1,539	10,119	10,881	7,153	1,145	1,278	1,654	22,112
Commercial Deductions (US$000)	3,791	11,701	1,985	8,161	26,873	52,510	1,742	10,729	1,588	1,479	31,148	46,686
Selling Expenses (US$000)	952	1,896	499	642	1,639	6,195	1,022	2,442	670	761	2,002	7,437
Cost Applicable to Sales (US$000)	49,431	54,083	12,146	21,007	59,842	198,061	68,990	62,975	13,956	15,428	67,617	229,853
Divide:
Volume Sold	48,003	4,600,098	10,588	13,412	12,000	Not Applicable	81,399	6,199,779	11,574	14,441	11,825	Not Applicable
CAS	1,030	11.76	1,147	1,566	4,987	Not Applicable	848	10.16	1,206	1,068	5,718	Not Applicable

	COIMOLACHE
				3Q 2019						3Q 2018
	GOLD (OZ)	SILVER (OZ)	LEAD (MT)	ZINC (MT)	COPPER (MT)	TOTAL	GOLD (OZ)	SILVER (OZ)	LEAD (MT)	ZINC (MT)	COPPER (MT)	TOTAL
Cost of Sales (without D&A) (US$000)	28,960	1,678	-	-	-	30,638	27,407.68	1,489	-	-	-	28,897
Add:
Exploration Expenses (US$000)	1,424	82	-	-	-	1,506	4,059.41	221	-	-	-	4,280
Commercial Deductions (US$000)	124	7	-	-	-	130	176	10	-	-	-	187
Selling Expenses (US$000)	436	25	-	-	-	461	286	16	-	-	-	302
Cost Applicable to Sales (US$000)	30,943	1,792	-	-	-	32,735	31,930	1,736	-	-	-	33,666
Divide:
Volume Sold	49,095	239,346	-	-	-	Not Applicable	53,859	234,844	-	-	-	Not Applicable
CAS	630	7.49	-	-	-	Not Applicable	593	7.39	-	-	-	Not Applicable

	BROCAL
				9M 2019						9M 2018
	GOLD (OZ)	SILVER (OZ)	LEAD (MT)	ZINC (MT)	COPPER (MT)	TOTAL	GOLD (OZ)	SILVER (OZ)	LEAD (MT)	ZINC (MT)	COPPER (MT)	TOTAL
Cost of Sales (without D&A) (US$000)	5,387	18,944	15,041	31,845	78,836	150,052	6,057	13,786	12,115	32,500	81,799	146,257
Add:
Exploration Expenses (US$000)	230	809	642	1,360	3,367	6,409	323	734	645	1,731	4,357.37	7,791
Commercial Deductions (US$000)	4,919	10,272	3,842	19,592	73,104	111,729	5,969	6,586	1,702	8,352	81,723	104,331
Selling Expenses (US$000)	271	952	755	1,600	3,960	7,537	384	875	769	2,062	5,191	9,281
Cost Applicable to Sales (US$000)	10,807	30,976	20,281	54,396	159,267	275,727	12,733	21,981	15,231	44,645	173,070	267,660
Divide:
Volume Sold	8,452	2,624,992	17,185	27,097	29,493	Not Applicable	11,815	2,285,936	13,465	29,450	32,187	Not Applicable
CAS	1,279	11.80	1,180	2,007	5,400	No Applicable	1,078	9.62	1,131	1,516	5,377	Not Applicable

Prorrateo	4%	13%	10%	21%	53%		4%	9%	8%	22%	56%

	NON MINING COMPANIES
				9M 2019						9M 2018
	GOLD (OZ)	SILVER (OZ)	LEAD (MT)	ZINC (MT)	COPPER (MT)	TOTAL	GOLD (OZ)	SILVER (OZ)	LEAD (MT)	ZINC (MT)	COPPER (MT)	TOTAL
Cost of Sales (without D&A) (US$000)	-	-	-	-	-	2,833	-	-	-	-	-	3,253
Add:						-						-
Selling Expenses (US$000)	-	-	-	-	-	1,901	-	-	-	-	-	1,395
Total (US$000)	-	-	-	-	-	4,734	-	-	-	-	-	4,648

	BUENAVENTURA CONSOLIDATED
				9M 2019						9M 2018
	GOLD (OZ)	SILVER (OZ)	LEAD (MT)	ZINC (MT)	COPPER (MT)	TOTAL	GOLD (OZ)	SILVER (OZ)	LEAD (MT)	ZINC (MT)	COPPER (MT)	TOTAL
Cost of Sales (without D&A) (US$000)	104,422	103,761	30,727	52,435	78,884	373,062	169,222	126,381	26,929	52,165	81,789	459,739
Add:
Exploration Expenses (US$000)	13,846	11,561	2,425	3,619	3,378	34,829	33,433	22,954	3,272	5,056	4,356	69,070
Commercial Deductions (US$000)	8,982	32,745	6,973	32,229	73,112	154,041	7,282	33,818	4,898	15,391	81,729	143,118
Selling Expenses (US$000)	2,253	4,329	1,472	2,572	3,961	16,486	2,811	5,951	1,528	3,060	5,191	19,935
Cost Applicable to Sales (US$000)	129,502	152,395	41,597	90,855	159,335	578,418	212,748	189,103	36,627	75,671	173,065	691,862
Divide:
Volume Sold	129,444	13,444,555	35,137	45,251	29,507	Not Applicable	263,003	18,914,101	29,221	47,307	32,242	Not Applicable
CAS	1,000	11.34	1,184	2,008	5,400	Not Applicable	809	10.00	1,253	1,600	5,368	Not Applicable

	COIMOLACHE
	9			M 2019						9M 2018
	GOLD (OZ)	SILVER (OZ)	LEAD (MT)	ZINC (MT)	COPPER (MT)	TOTAL	GOLD (OZ)	SILVER (OZ)	LEAD (MT)	ZINC (MT)	COPPER (MT)	TOTAL
Cost of Sales (without D&A) (US$000)	69,593	3,400	-	-	-	72,993	65,479	4,032	-	-	-	69,511
Add:
Exploration Expenses (US$000)	3,929	192	-	-	-	4,121	11,296	695	-	-	-	11,991
Commercial Deductions (US$000)	295	14	-	-	-	309	407	27	-	-	-	434
Selling Expenses (US$000)	747	36	-	-	-	783	752	46	-	-	-	798
Cost Applicable to Sales (US$000)	74,564	3,642	-	-	-	78,206	77,933	4,801	-	-	-	82,734
Divide:
Volume Sold	109,741	449,973	-	-	-	Not Applicable	120,415	589,071	-	-	-	Not Applicable
CAS	679	8.09	-	-	-	No Applicable	647	8.15	-	-	-	Not Applicable

Compañía de Minas Buenaventura S.A.A.

Third Quarter 2019 Results

Page 18 of 25

Buenaventura
All-in Sustaining Cost for 3Q19

	Buenaventura¹				La Zanja				Tantahuatay				Attributable ²
		3Q19				3Q19				3Q19				3Q19
Au Ounces Sold BVN				37,851
Au Ounces bought from La Zanja
Au Ounces Sold Net				37,851				6,335				49,095				60,897

		3Q19				3Q19				3Q19				3Q19
Income Statement & Cash Flow	US$ 000'		US$/Oz Au		US$ 000'		US$/Oz Au		US$ 000'		US$/Oz Au		US$ 000'		US$/Oz Au

Cost of Sales		78,938		2,085		7,282		1,150		30,638		624		95,086		1,561
Exploration in Operating Units		7,619		201		0		0		1,506		31		8,223		135
Royalties		1,589		42				0				0		1,589		26
Comercial Deductions³		13,588		359		18		3		130		3		13,650		224
Selling Expenses		3,066		81		86		14		460		9		3,296		54
Administrative Expenses		11,859		313		604		95		1,082		22		12,613		207
Other, net		4,910		130		316		50		233		5		5,171		85
Sustaining Capex⁴		6,464		171		274		43		7,525		153		9,627		158

By-product Credit		-91,718		-2,423		-334		-53		-4,254		-87		-1,883		-31

All-in Sustaining Cost		36,315		959		8,247		1,302		37,320		760		55,655		914

*All-in Sustaining Cost does not include: Depreciation and Amortization, Stoppage of mining units, Exploration in non-operating areas.

Notes:
1. Non-consolidated financial statements for Compañia De Minas Buenaventura S.A.A.
2. Considers 100% from Compañia De Minas Buenaventura S.A.A., 53.06% from La Zanja and 40.095% from Tantahuatay.
3. For all metals produced.
4. Sustaining Capex + Growth Capex equals Acquisitions of mining concessions, development costs, property, plant and equipment.

Compañía de Minas Buenaventura S.A.A.

Third Quarter 2019 Results

Page 19 of 25

Buenaventura
All-in Sustaining Cost for 3Q18

	Buenaventura¹				La Zanja				Tantahuatay				Attributable ²
		3Q18				3Q18				3Q18				3Q18
Au Ounces Sold BVN				60,322
Au Ounces bought from La Zanja
Au Ounces Sold Net				60,322				18,419				53,859				91,691

		3Q18				3Q18				3Q18				3Q18
Income Statement & Cash Flow	US$ 000'		US$/Oz Au		US$ 000'		US$/Oz Au		US$ 000'		US$/Oz Au		US$ 000'		US$/Oz Au

Cost of Sales³		94,133		1,560		16,210		880		28,898		537		114,321		1,247
Exploration in Operating Units		19,498		323		5		0		4,279		79		21,216		231
Royalties		4,266		71		0		0				0		4,266		47
Comercial Deductions⁴		11,373		189		73		4		187		3		11,487		125
Selling Expenses		3,815		63		217		12		303		6		4,052		44
Administrative Expenses		11,978		199		1,463		79		2,129		40		13,608		148
Other, net		9,046		150		-1,155		-63		-388		-7		8,278		90
Sustaining Capex⁵		11,142		185		397		22		15,523		288		17,576		192

By-product Credit		-99,506		-1,650		-689		-37		-3,467		-64		-1,756		-19

All-in Sustaining Cost		65,745		1,090		16,522		897		47,464		881		93,542		1,020

*All-in Sustaining Cost does not include: Depreciation and Amortization, Stoppage of mining units, Exploration in non-operating areas.

Notes:
1. Non-consolidated financial statements for Compañia De Minas Buenaventura S.A.A.
2. Considers 100% from Compañia De Minas Buenaventura S.A.A., 53.06% from La Zanja and 40.095% from Tantahuatay.
3. For Buenaventura does not consider purchase of concentrate from La Zanja.
4. For all metals produced.
5. Sustaining Capex + Growth Capex equals Acquisitions of mining concessions, development costs, property, plant and equipment.

Compañía de Minas Buenaventura S.A.A.

Third Quarter 2019 Results

Page 20 of 25

Buenaventura
All-in Sustaining Cost for 9M19

	Buenaventura1				La Zanja				Tantahuatay				Attributable 2
		9M19				9M19				9M19				9M19
Au Ounces Sold BVN				96,515
Au Ounces bought from La Zanja
Au Ounces Sold Net				96,515				24,477				109,741				153,503

		9M19				9M19				9M19				9M19
Income Statement & Cash Flow	US$ 000'		US$/Oz Au		US$ 000'		US$/Oz Au		US$ 000'		US$/Oz Au		US$ 000'		US$/Oz Au

Cost of Sales		210,090		2,177		28,211		1,153		72,993		665		254,325		1,657
Exploration in Operating Units		28,419		294		2		0		4,121		38		30,072		196
Royalties		3,146		33				0				0		3,146		20
Comercial Deductions³		42,279		438		87		4		309		3		42,449		277
Selling Expenses		7,309		76		270		11		783		7		7,766		51
Administrative Expenses		35,281		366		2,162		88		3,463		32		37,817		246
Other, net		9,972		103		1,136		46		416		4		10,742		70
Sustaining Capex⁴		14,853		154		1,483		61		15,968		146		22,042		144

By-product Credit		-253,691		-2,629		-1,133		-46		-7,474		-68		-3,598		-23

All-in Sustaining Cost		97,658		1,012		32,218		1,316		90,579		825		151,071		984


Notes:
1. Non-consolidated financial statements for Compañia De Minas Buenaventura S.A.A.
2. Considers 100% from Compañia De Minas Buenaventura S.A.A., 53.06% from La Zanja and 40.095% from Tantahuatay.
3. For all metals produced.
4. Sustaining Capex + Growth Capex equals Acquisitions of mining concessions, development costs, property, plant and equipment.

Compañía de Minas Buenaventura S.A.A.

Third Quarter 2019 Results

Page 21 of 25

Buenaventura
All-in Sustaining Cost for 9M18

	Buenaventura1				La Zanja				Tantahuatay				Attributable 2
		9M18				9M18				9M18				9M18
Au Ounces Sold BVN				197,083
Au Ounces bought from La Zanja
Au Ounces Sold Net				197,083				54,136				120,415				274,088

		9M18				9M18				9M18				9M18
Income Statement & Cash Flow	US$ 000'		US$/Oz Au		US$ 000'		US$/Oz Au		US$ 000'		US$/Oz Au		US$ 000'		US$/Oz Au

Cost of Sales³		287,018		1,456		52,670		973		69,512		577		342,836		1,251
Exploration in Operating Units		61,771		313		72		1		11,990		100		66,617		243
Royalties		15,851		80				0				0		15,851		58
Comercial Deductions⁴		40,932		208		287		5		434		4		41,258		151
Selling Expenses		9,486		48		597		11		798		7		10,123		37
Administrative Expenses		48,553		246		2,588		48		4,056		34		51,552		188
Other, net		18,457		94		24		0		-271		-2		18,361		67
Sustaining Capex⁵		29,771		151		7,281		134		25,189		209		43,733		160

By-product Credit		-355,831		-1,805		-2,738		-51		-9,346		-78		-5,200		-19

All-in Sustaining Cost		156,007		792		60,781		1,123		102,362		850		229,300		837

*All-in Sustaining Cost does not include: Depreciation and Amortization, Stoppage of mining units, Exploration in non-operating areas.

Notes:
1. Non-consolidated financial statements for Compañia De Minas Buenaventura S.A.A.
2. Considers 100% from Compañia De Minas Buenaventura S.A.A., 53.06% from La Zanja and 40.095% from Tantahuatay.
3. For Buenaventura does not consider purchase of concentrate from La Zanja.
4. For all metals produced.
5. Sustaining Capex + Growth Capex equals Acquisitions of mining concessions, development costs, property, plant and equipment.

Compañía de Minas Buenaventura S.A.A.

Third Quarter 2019 Results

Page 22 of 25

APPENDIX 6

Compañía de Minas Buenaventura S.A.A. and Subsidiaries
Consolidated Statement of Financial Position
As of September 30, 2019 and December 31, 2018
	2019			2018
Assets	US$(000)			US$(000)
Current assets
Cash and cash equivalents		279,708			369,200
Trade and other accounts receivable, net		217,423			211,715
Inventory, net		110,878			135,919
Income tax credit		28,715			24,396
Prepaid expenses		14,070			17,145
Hedge derivative financial instruments		-			2,759
		650,794			761,134

Non-current assets
Trade and other receivables, net		38,168			40,593
Inventories, net		3,171			3,812
Income tax credit		-			319
Investment in associates		1,552,962			1,473,382
Mining concessions, development costs, right-of-use, property, plant and equipment, net		1,775,845			1,847,615
Investment properties, net		208			222
Deferred income tax asset, net		48,008			38,305
Prepaid expenses		25,913			26,578
Other assets		29,787			25,261
		3,474,062			3,456,087

Total assets		4,124,856			4,217,221


Liabilities and shareholders’ equity, net
Current liabilities
Bank loans		55,000			95,000
Trade and other payables		132,325			188,084
Provisions and contingent liabilities		77,105			68,172
Income tax payable		1,951			1,760
Financial obligations		110,726			46,166
		377,107			399,182


Non-current liabilities
Trade and other payables		637			639
Provisions and contingent liabilities		212,888			199,762
Financial obligations		452,604			540,896
Contingent consideration liability		17,217			15,755
Deferred income tax liabilities		28,378			31,422
		711,724			788,474

Total liabilities		1,088,831			1,187,656

Shareholders’ equity, net
Capital stock		750,497			750,497
Investment shares		791			791
Additional paid-in capital		218,450			218,450
Legal reserve		163,116			163,115
Other reserves		269			269
Retained earnings		1,700,286			1,675,909
Other reserves of equity		(1,339	)		(703	)
Shareholders’ equity, net attributable to owners of the parent		2,832,070			2,808,328
Non-controlling interest		203,955			221,237
Total shareholders’ equity, net		3,036,025			3,029,565

Total liabilities and shareholders’ equity, net		4,124,856			4,217,221

Compañía de Minas Buenaventura S.A.A.

Third Quarter 2019 Results

Page 23 of 25

Compañía de Minas Buenaventura S.A.A. and Subsidiaries
Consolidated Statement of Income
For the three and nine-month periods ended September 30, 2019 and 2018


	For the three-month period ended September 30,						For the nine-month period ended September 30,
	2019			2018			2019			2018
Continuing operations	US$(000)			US$(000)			US$(000)			US$(000)
Operating income
Net sales of goods		218,989			259,296			602,624			870,249
Net sales of services		4,603			3,736			12,340			13,283
Royalty income		6,599			5,775			17,434			14,925
Total operating income		230,191			268,807			632,398			898,457

Operating costs
Cost of sales of goods, without considering depreciation and amortization		(128,588	)		(152,885	)		(370,929	)		(456,518	)
Cost of sales of services, without considering depreciation and amortization		(650	)		(733	)		(2,133	)		(3,221	)
Exploration in operating units		(10,119	)		(22,112	)		(34,829	)		(69,070	)
Depreciation and amortization		(60,211	)		(62,995	)		(168,729	)		(176,730	)
Mining royalties		(3,701	)		(5,192	)		(9,105	)		(18,065	)
Total operating costs		(203,269	)		(243,917	)		(585,725	)		(723,604	)

Gross profit		26,922			24,890			46,673			174,853

Operating expenses, net
Administrative expenses		(17,445	)		(15,755	)		(54,849	)		(60,337	)
Selling expenses		(6,195	)		(7,437	)		(16,486	)		(19,935	)
Exploration in non-operating areas		(2,371	)		(9,758	)		(9,139	)		(24,846	)
Reversal (provision) for contingencies and others		827			(11,477	)		2,089			(11,207	)
Other, net		(8,666	)		(4,985	)		(17,636	)		(21,542	)
Total operating expenses, net		(33,850	)		(49,412	)		(96,021	)		(137,867	)

Operating profit (loss)		(6,928	)		(24,522	)		(49,348	)		36,986

Other income (expense), net
Share in the results of associates		37,771			22,151			109,988			71,173
Financial income		1,611			1,604			5,656			3,781
Financial costs		(11,994	)		(9,990	)		(33,679	)		(28,283	)
Net gain (loss) from currency exchange difference		(1,455	)		(482	)		(1,672	)		(40	)
Total other income (expense), net		25,933			13,283			80,293			46,631

Profit (loss) before income tax		19,005			(11,239	)		30,945			83,617

Current income tax		(1,583	)		2,354			(5,326	)		(11,330	)
Deferred income tax		(14,556	)		(2,218	)		11,439			(12,036	)

Profit (loss) from continuing operations		2,866			(11,103	)		37,058			60,251

Discontinued operations
Loss from discontinued operations		(2,129	)		(3,082	)		(6,643	)		(4,573	)
Net profit (loss)		737			(14,185	)		30,415			55,678

Attributable to:
Owners of the parent		4,500			(10,286	)		41,464			59,409
Non-controlling interest		(3,763	)		(3,899	)		(11,049	)		(3,731	)
		737			(14,185	)		30,415			55,678

Basic and diluted profit (loss) per share attributable to
equity holders of the parent, stated in U.S. dollars		0.02			(0.04	)		0.16			0.23

Compañía de Minas Buenaventura S.A.A.

Third Quarter 2019 Results

Page 24 of 25

Compañía de Minas Buenaventura S.A.A. and Subsidiaries
Consolidated Statement of Cash Flows
For the three and nine-month periods ended September 30, 2019 and 2018

	For the three-month period ended September 30,						For the nine-month period ended September 30,
	2019			2018			2019			2018
	US$(000)			US$(000)			US$(000)			US$(000)

Operating activities
Proceeds from sales		216,206			251,382			608,200			951,930
Proceeds from dividends		1,545			758			30,921			44,563
Value Added Tax recovered		7,261			20,490			29,546			71,310
Royalty received		5,152			4,542			16,087			14,180
Interest received		-			747			523			902
Payments to suppliers and third-parties		(143,161	)		(191,731	)		(465,056	)		(637,068	)
Payments to employees		(33,652	)		(38,520	)		(106,828	)		(126,566	)
Payments of interest		(6,232	)		(8,999	)		(20,811	)		(22,657	)
Payment of income taxes		(6,030	)		(7,915	)		(16,080	)		(28,345	)
Payments of mining royalties		(1,569	)		(2,663	)		(3,146	)		(10,944	)

Net cash and cash equivalents provided by operating activities		39,520			28,091			73,356			257,305

Investing activities
Proceeds from sales of mining concessions, property, plant and equipment		280			314			702			374
Acquisitions of mining concessions, development costs, property, plant and equipment		(27,971	)		(18,504	)		(64,255	)		(70,097	)
Payments to other assets		(1,040	)		(1,526	)		(2,468	)		(2,992	)

Net cash and cash equivalents used in investing activities		(28,731	)		(19,716	)		(66,021	)		(72,715	)

Financing activities
Proceeds of bank loans		50,000			-			55,000			80,000
Payments of bank loans		(50,000	)		-			(95,000	)		(80,000	)
Payments of financial obligations		(10,429	)		(10,075	)		(33,657	)		(32,603	)
Dividends paid to controlling interest		-			-			(15,240	)		(7,554	)
Dividends paid to non-controlling interest		(2,319	)		(2,213	)		(5,419	)		(3,960	)
Decrease (increase) of restricted bank accounts		(2,367	)		(83	)		(2,511	)		(79	)

Net cash and cash equivalents used in financing activities		(15,115	)		(12,371	)		(96,827	)		(44,196	)

Net increase (decrease) in cash and cash equivalents during the period		(4,326	)		(3,996	)		(89,492	)		140,394
Cash and cash equivalents at the beginning of the period		284,034			358,941			369,200			214,551

Cash and cash equivalents at period-end		279,708			354,945			279,708			354,945

Compañía de Minas Buenaventura S.A.A.

Third Quarter 2019 Results

Page 25 of 25

	For the three-month period ended September 30,						For the nine-month period ended September 30,
	2019			2018			2019			2018
	US$(000)			US$(000)			US$(000)			US$(000)

Reconciliation of net profit to cash and cash equivalents provided
by operating activities

Net profit (loss)		737			(14,185	)		30,415			55,678

Plus (less):
Depreciation and amortization		60,211			62,995			168,729			176,730
Hedge derivative instruments		(1,300	)		(4,426	)		(4,322	)		11,317
Deferred income tax expense (income)		14,556			2,218			(11,439	)		12,036
Provision for estimated fair value of sales		(1,506	)		555			3,181			15,659
Income attributable to non-controlling interest		3,763			3,899			11,049			3,731
Accretion expense of provision for closure of mining units and exploration projects		2,352			(3,022	)		8,152			(762	)
Net share in results of associates		(37,771	)		(22,151	)		(109,988	)		(71,173	)
Recovery (expense) for provision for contingencies		(827	)		11,477			(2,089	)		11,207
Net loss (gain) from currency exchange difference		1,455			482			1,672			40
Reversal (provision) for impairment loss of inventories		1,422			7,612			(701	)		7,265
Bonus provision - executives & employes		2,276			4,295			12,058			12,851
Write-off of tailings dam		-			1,134			-			1,134
Fair Value of provision for contingences liabilities		1,462			-			1,462			-
Other net		(10,858	)		17,612			(15,848	)		3,593

Net changes in operating assets and liabilities:
Decrease (increase) in operating assets -
Trade and other accounts receivable		(9,259	)		(5,845	)		917			66,752
Inventories		15,020			7,878			26,383			1,749
Income tax credit		(3,093	)		(7,841	)		(4,000	)		1,871
Prepaid expenses		3,432			5,536			3,740			8,401
Increase (decrease) in operating liabilities -
Trade and other accounts payable		(4,771	)		(2,888	)		(55,761	)		(68,789	)
Provisions		260			(38,292	)		(21,366	)		(36,171	)
Income tax payable		414			290			191			(377	)

Proceeds from dividends		1,545			758			30,921			44,563

Net cash and cash equivalents provided by operating activities		39,520			28,091			73,356			257,305

Signature

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

COMPAÑÍA DE MINAS BUENAVENTURA S.A.A.

By: /s/ LEANDRO GARCÍA RAGGIO

Name: Leandro García Raggio

Title: Chief Financial Officer

Date: October 29, 2019