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Compania de Minas Buenaventura Announces First Quarter 2010 Results

Friday, April 30th, 2010

Compania 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 announced today its results for the first quarter 2010. All figures have been prepared according to Peruvian GAAP and are stated in U.S. dollars (US$).
Comments from the Chief Executive Officer:
Mr. Roque Benavides, Buenaventura’s Chief Executive Officer stated:
“During this quarter, the increase in gold sales, the positive results from Cerro Verde and Yanacocha, and higher metal prices resulted in Net Income of US$155.2 million, 55% higher than the figure reported in 1Q09 (US$100.3 million).
EBITDA from Buenaventura’s Direct Operations was US$84.6 million, in-line with the figure reported in 1Q09 (US$83.4 million), while EBITDA including Yanacocha and Cerro Verde increased 25%, from US$223.8 million in 1Q09 to US$280.1 million in 1Q10.”

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