1 / 14

Buenaventura: Leading Precious Metals Mining in Peru

Compañía de Minas Buenaventura, mining gold and silver in Peru since 1953. A strong company with exploration programs, joint ventures, and commitment to shareholder value and corporate governance.

hburket
Download Presentation

Buenaventura: Leading Precious Metals Mining in Peru

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript


  1. Cia. de Minas Buenaventura • Since 1953 in mining. • Mining of gold and silver in Peru. • Six majority-owned operating mines. • Aggressive and proven exploration program. • 43,6% stake in Yanacocha, Latin America’s largest gold mine. • Best geological information in Peru. • Joint ventures with Newmont, Teck-Cominco, SPCC, BHP Billiton & Meridian Gold. • Growing reserves, production and earnings. • Quoted on the Lima Stock Exchange (BUE.LM) since 1971 and NYSE: BVN since 1996.

  2. Strategy • Focus on precious metals mining in Peru. • Remain strong operating company. • Upgrade operations. • Generate reserves throug effective exploration. • Pursue acquisitions preferably in Southamerica. • Share risks through joint ventures. • Long-term hedging policies. • Permanent contact with our investors.

  3. Cost / Benefit of Allocation (US$ millions) BEFORE OFFERING MAY 1996: Capital 42.8 Investment shares 6.9 Additional capital 5.0 Total Equity 54.7 AFTER OFFERING MAY 1996: Capital 50.7 Investment shares 7.9 Additional Capital 163.6 Total Equity 222.2 BENEFIT (OFFERING 1996): US$ 167.5 TOTAL NET EQUITY (09/30/02): US$ 518.5

  4. Ownership structure

  5. Outcomes • Enhanced shareholder value. • Increased our gold & silver production. Solid reserve base. • Increased benefits for stakeholders. • Improved our economic results. Raised the competitiveness and performance of the company. • Improved and strengthened image and corporate reputation and good practices of corporate governance..

  6. Improving Shareholders’ Value US$/oz US$ millions

  7. Corporate governance in Latin America - 2001 Source: CLSA, 2002

  8. Following principles ofcorporate governance 1. Rights of shareholders of Buenaventura. • Rights of shareholders are sufficiently defined and protected. • Including the right of shareholders to participate in, and to be sufficiently informed on, decisions concerning fundamental corporate changes. • Shareholders participate and vote in Annual and Extraordinary General Meetings.

  9. Following principles ofcorporate governance 2. Equitable treatment of shareholders of Buenaventura. • There is a equitable treatment of shareholders, including minority and foreign shareholders. • Members of the board and managers can be required to disclosure any manterial interests. • Change capital structure: one type of share.

  10. Following principles ofcorporate governance 3. Role of stakeholders • Recognise the rights of stakeholders as established by law. • Implementing mechanisms to increase stakeholder participation.

  11. Following principles ofcorporate governance 4. Disclosure and transparency • In order to ensure that timely and accurate disclosure is made on all material matters regarding the corporation. • Disclosure include material information on financial and operating results, company objectives, etc. • Information is prepared, audited and disclosed in accordance with high quality standards of accounting. • Annual audit is performed by an independent auditor. • Channels for disseminating information are provide for fair and cost-efficient access to information by users.

  12. Following principles ofcorporate governance 5. Responsibilities of the board • They act on a fully informed basis and in the best interest for the company and the shareholders. • The board is able to exercise objective judgement on corporate affairs. There is not conflict of interest. • Board members have access to accurate, relevant and timely information. • Functions: reviewing guiding corporate strategy, major plans of action; propose and appoint directors, etc. • Ensuring the integrity of the company’s accounting and financial reporting systems.

  13. Our principles • Be careful with the environment. • Respect to communities. • Apply sound corporate governance.

  14. BVN LISTED NYSE 50 years in mining Compañía de Minas www.buenaventura.com Contact Person: Denise Garrido Telephone: (511) 419-2538 e-mail: dhuguet@buenaventura.com.pe

More Related