LIMA, Peru, June 30 /PRNewswire-FirstCall/ -- Compania de Minas
Buenaventura S.A.A. ("the Company" or "Buenaventura") (NYSE: BVN; Lima
Stock Exchange: BUE.LM), Peru's largest publicly-traded precious metals
mining company announced today that the National Federation of Mining
Unions began a strike today at 00.00 hours. The duration of the strike is
undefined and is related to the modification of the workers' participation
regulation pending in Peru's congress.
This strike was adopted only by contractor workers of the Uchucchacua
unit and will affect production beginning today.
The Company will keep the market posted of any developments or changes.
Company Description
Compania 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, Antapite, Julcani, Recuperada and Caraveli) and also has
controlling interests in two mining companies (CEDIMIN and El Brocal) as
well as a minority interest in several other mining companies in Peru. The
Company owns 43.65% in Minera Yanacocha S.R.L. (a partnership with Newmont
Mining Corporation), an important precious metal producer, and 18.50% in
Sociedad Minera Cerro Verde, an important Peruvian copper producer.
To request a printed version of the Company's 2006 annual report on
20-F form contact the persons indicated above.
Cautionary Statement
This news release contains "forward-looking statements" within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended, that are
intended to be covered by the safe harbor created by such sections. Such
forward-looking statements include, without limitation, statements
regarding future mining or permitting activities. Where Buenaventura
expresses or implies an expectation or belief as to future events or
results, such expectation or belief is expressed in good faith and believed
to have a reasonable basis. However, forward-looking statements are subject
to risks, uncertainties and other factors, which could cause actual results
to differ materially from future results expressed, projected or implied by
such forward-looking statements. Such risks include 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 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, economical, legal and social developments. For a more
detailed discussion of such risks and other factors, see the company's 2006
Annual Report on Form 20-F, which is on file with the Securities and
Exchange Commission, as well as the company's other SEC filings.
Buenaventura does not undertake any obligation to release publicly
revisions to any "forward-looking statement," to reflect events or
circumstances after the date of this news release, or to reflect the
occurrence of unanticipated events, except as may be required under
applicable securities laws.
Visit our website:
http://www.buenaventura.com
SOURCE Compania de Minas Buenaventura S.A.A.
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Related links:
http://www.buenaventura.com
CONTACT:
Contacts in Lima, Roque Benavides, (511)
419-2538, or Carlos Galvez, (511) 419-2540, or Investor
Relations: Daniel Dominguez, (511) 419-2536,
ddominguez@buenaventura.com.pe, all of Compania de Minas
Buenaventura S.A.A.; or Contacts in New York, Maria Barona or
Peter Majeski, both of i-advize Corporate Communications, Inc.,
+1-212-406-3690, buenaventura@i-advize.com, for Compania de Minas
Buenaventura S.A.A.
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