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Buenaventura Announces Fourth Quarter And Full Year 2012 Results

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, announced today results for the fourth quarter 2012. All figures have been prepared in accordance with IFRS and are stated in U.S. dollars (US$).

Comments from the Chief Executive Officer:

Mr. Roque Benavides, Buenaventura’s Chief Executive Officer, stated:

“Net income in the fourth quarter was US$139.1 million, 39% lower than the figure reported in 4Q11 (US$227.9 million). EBITDA from Buenaventura’s Direct Operations was US$130.2 million, 32% lower than the figure reported in 4Q11 (US$192.1 million), while EBITDA including Affiliates decreased 33%, from US$421.7 million in 4Q11 to US$281.5 million in 4Q12.

These results were mainly explained by lower volume of gold sold, higher operating costs, exploration efforts and decreased contributions from affiliates.

Financial Highlights (in millions of US$, except EPS figures):
        4Q12       4Q11       Var       FY 2012       FY 2011       Var
Total Revenues       424.2       402.3       5%       1,563.5       1,556.6       0%
Operating Income       86.7       164.0       -47%       418.2       704.4       -41%
EBITDA Direct Operations       130.2       192.1       -32%       569.9       835.4       -32%
EBITDA Including Affiliates       281.5       421.7       -33%       1,438.8       1,681.3       -14%
Net Income       139.1       227.9       -39%       684.7       858.9       -20%
EPS       0.55       0.90       -39%       2.69       3.38       -20%

(*) As of December 31, 2012, Buenaventura had 254,232,571 shares outstanding.

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