<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>bm7459.txt
<DESCRIPTION>FORM 6-K
<TEXT>
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                                    FORM 6-K

                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                            Report of Foreign Issuer

                    Pursuant to Rule 13a-16 or 15d-16 of the
                         Securities Exchange Act of 1934

                                October 10, 2006

                        BUENAVENTURA MINING COMPANY INC.
                 (Translation of Registrant's Name into English)

                               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 of Form 20-F or Form 40-F.

                        Form 20-F [X]     Form 40-F [ ]

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): 82-________________.

================================================================================

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    BUENAVENTURA EXERCISES OPTION TO PURCHASE REMAINING 25% OF MINAS PORACOTA

    LIMA, Peru, Oct. 10 /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 it has accepted the decision of Teck
Cominco Peru S.A. to sell its 25% interest in Minas Poracota S.A. to
Buenaventura.

    Buenaventura will purchase Teck Cominco Peru's 25% interest in Minas
Poracota S.A. for US$2.25 million in cash, becoming 100% owner of Minas Poracota
S.A.

    Minas Poracota S.A owns 100% of the Poracota Project, located in the
district of Cayarani, 20 kilometers west of the Orcopampa mine in Arequipa in
southern Peru. Buenaventura has been exploring this prospect, with promising
results, since 2003.

    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 three mines in Peru and also has controlling
interests in four mining companies 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.

    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 2003
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.

SOURCE  Compania de Minas Buenaventura S. A. A.
    -0-                             10/10/2006
    /CONTACT:  In Lima, Roque Benavides or Carlos Galvez, +011-511-419-2538 or
+011-511-419-2540, or Investors, Daniel Dominguez, +011-511-419-2536, or
ddominguez@buenaventura.com.pe, all of Compania de Minas Buenaventura; or in
New York, Maria Barona or Peter Majeski, both of i-advize Corporate
Communications, Inc., +1-212-406-3690 or buenaventura@i-advize.com, both for
Compania de Minas Buenaventura/
    /Web site:  http://www.buenaventura.com.pe /
    (BVN)

<PAGE>

                                    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.

                                           Compania de Minas Buenaventura S.A.A.

                                           /s/ CARLOS E. GALVEZ PINILLOS
                                           -------------------------------------
                                           Carlos E. Galvez Pinillos
                                           Chief Financial Officer

Date: October 10, 2006
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