<SEC-DOCUMENT>0001157523-21-000107.txt : 20210129
<SEC-HEADER>0001157523-21-000107.hdr.sgml : 20210129
<ACCEPTANCE-DATETIME>20210129090834
ACCESSION NUMBER:		0001157523-21-000107
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20210129
FILED AS OF DATE:		20210129
DATE AS OF CHANGE:		20210129

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BUENAVENTURA MINING CO INC
		CENTRAL INDEX KEY:			0001013131
		STANDARD INDUSTRIAL CLASSIFICATION:	METAL MINING [1000]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-14370
		FILM NUMBER:		21568391

	BUSINESS ADDRESS:	
		STREET 1:		AVE CARLOS VILLARAN 790
		CITY:			LIMA
		STATE:			R5
		ZIP:			13
		BUSINESS PHONE:		5114192536

	MAIL ADDRESS:	
		STREET 1:		AV. CARLOS VILLARAN 790
		CITY:			LIMA
		STATE:			R5
		ZIP:			13
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>a52370016.htm
<DESCRIPTION>BUENAVENTURA MINING COMPANY INC. 6-K
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    <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 16pt;">UNITED STATES</div>
    <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 16pt;">SECURITIES AND EXCHANGE COMMISSION</div>
    <div style="text-align: center; margin-bottom: 18pt;">Washington, D.C.&#160; 20549</div>
    <div style="text-align: center; margin-bottom: 18pt; font-family: 'Times New Roman',Times,serif; font-size: 16pt; font-weight: bold;">FORM 6-K</div>
    <div style="text-align: center; margin-bottom: 18pt; font-weight: bold;">REPORT OF FOREIGN ISSUER<br>
      PURSUANT TO RULE 13a-16 OR 15b-16 OF<br>
      THE SECURITIES EXCHANGE ACT OF 1934</div>
    <div style="text-align: center; margin-bottom: 18pt; font-weight: bold;">For the month of January 2021</div>
    <div style="text-align: center; margin-bottom: 18pt; font-weight: bold;">Commission File Number 001-14370</div>
    <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 16pt; font-weight: bold;">COMPANIA DE MINAS BUENAVENTURA S.A.A.</div>
    <div style="text-align: center; margin-bottom: 18pt;">(Exact name of registrant as specified in its charter)</div>
    <div style="text-align: center; margin-bottom: 18pt;"><font style="font-size: 16pt; font-family: 'Times New Roman',Times,serif; font-weight: bold;">BUENAVENTURA MINING COMPANY INC.</font><br>
      (Translation of registrant&#8217;s name into English)</div>
    <div style="text-align: center; margin-bottom: 18pt;"><font style="font-weight: bold;">Republic of Peru</font><br>
      (Jurisdiction of incorporation or organization)</div>
    <div style="text-align: center; margin-bottom: 18pt;"><font style="font-weight: bold;">CARLOS VILLARAN 790</font><br>
      <font style="font-weight: bold;">SANTA CATALINA, LIMA 13, PERU</font><br>
      <font style="font-weight: bold;">(</font>Address of principal executive offices)</div>
    <div style="margin-bottom: 6pt;">Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.</div>
    <div style="text-align: center; margin-bottom: 6pt;">Form 20-F ____<u>X</u>___ Form 40-F _______</div>
    <div style="text-align: center; margin-bottom: 6pt;"> <br>
    </div>
    <div style="margin-bottom: 18pt;">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): [ ]<br>
      <br>
      <br>
      Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): [ ]</div>
    <div style="margin-bottom: 6pt;">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.</div>
    <div style="text-align: center; margin-bottom: 6pt;">Yes _______ No ___<u>X</u>____</div>
    <div style="margin-bottom: 18pt;">If &#8220;Yes&#8221; is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): Not applicable.</div>
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      <div class="bw-release">
        <h1 style="text-align: center; list-style-position: inside;FONT-SIZE: 14pt;"> <b>Buenaventura Announces Approval of Deferral and Fractioning Process Request</b> </h1>
        <div class="bw-release-body">
          <div class="bw-release-table-js bw-release-story">
            <p>LIMA, Peru--(BUSINESS WIRE)--January 29, 2021--<b>Compa&#241;ia de Minas Buenaventura S.A.A.</b> (&#8220;Buenaventura&#8221; or &#8220;the Company&#8221;) (NYSE: BVN; Lima Stock Exchange: BUE.LM), Peru&#8217;s largest publicly-traded precious metals mining company, is pleased
              to announce that on January 28, 2021 the Deferral and Fractioning approval process with the Peruvian National Customs and Tax Administration Superintendence (&#8220;SUNAT&#8221;), associated with Buenaventura&#8217;s ongoing tax dispute concluded. Said dispute
              is related to the SUNAT&#180;s refusal to recognize the company&#180;s deductions in respect to contracts for physical deliveries and certain contractual payments made by the Company during the years 2007 and 2008, as well as tax loss which was offset
              in 2009 and 2010. </p>
            <p> Per the Company&#8217;s 6-K filings between November 2020 and January 2021, Buenaventura modified its gold client contracts during 2007 and 2008; shifting from a fixed to a variable price scheme and enabling the Company to appropriately benefit
              from improved market prices. This change incurred significant expenses for Buenaventura during the two-year 2007 to 2008 transition period, which also impacted the income tax payable for said fiscal years. However, the modified pricing
              structure also favorably impacted Buenaventura&#8217;s financial results with a corresponding increase in Buenaventura&#8217;s income tax payment to SUNAT. </p>
            <p> SUNAT states that the Company should disregard the additional expenses incurred related to the variable price scheme shift when calculating income tax for 2007 and 2008. SUNAT stipulates that said payments correspond to a prior settlement
              of financial derivative contracts for which the Company did not establish the purpose or risks covered by said instruments. Additionally, SUNAT does not recognize the tax losses offset during 2009 and 2010 related to the 2007 and 2008 fiscal
              years. </p>
            <p> The claim for the years 2007, 2008, 2009 and 2010 initially amounted to 373.3 million soles (US$ 103.7 million) which, according to SUNAT, now amounts to 2,107.5 million soles (US$ 585.4 million) when including penalties and accrued
              interest. </p>
            <p> On November 26, 2020, SUNAT began its collection process following the Peruvian tax court&#8217;s ruling to dismiss Buenaventura&#8217;s appeal against certain SUNAT Administrative Resolutions. Buenaventura therefore filed a request for deferral and
              fractioning in order to make said tax payments. The purpose of the request is to pay the outstanding amount, or 2,107.5 million soles, over a six year period, with interest paid in installments. </p>
            <p> Buenaventura successfully closed a &#8220;Syndicated Letters of Guarantee&#8221; financing transaction with a group of financial entities on December 30, 2020. The resulting Letters of Guarantee was issued and subsequently delivered to SUNAT as was
              required to receive final SUNAT approval. A related 6-K was appropriately filed. </p>
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            <p> The Deferral and Fractioning conditions approved by SUNAT are as follows: </p>
            <ul style="list-style-type: disc;">
              <li> Six month deferral of payment start date </li>
              <li> Initial payment of 14% of debt </li>
              <li> Debt fractioning in 66 monthly installments </li>
              <li> Monthly interest rate of 0.8% </li>
            </ul>
            <p> Without prejudice of the information mentioned above, the Company will continue to exercise its legitimate right of self-defense in the corresponding authorities, awaiting a favorable outcome. </p>
            <p> <b>Company Description</b> </p>
            <p> Compa&#241;&#237;a de Minas Buenaventura S.A.A. is Peru&#8217;s largest, publicly traded precious and base metals Company and a major holder of mining rights in Peru. The Company is engaged in the exploration, mining development, processing and trade of
              gold, silver and other base metals via wholly-owned mines and through its participation in joint venture projects. Buenaventura currently operates several mines in Peru (Orcopampa*, Uchucchacua*, Julcani*, Tambomayo*, El Brocal, La Zanja and
              Coimolache). </p>
            <p> The Company owns 43.65% of Minera Yanacocha S.R.L (a partnership with Newmont Mining Corporation &amp; Sumitomo Corporation), an important precious metal producer and 19.58% of Sociedad Minera Cerro Verde, an important Peruvian copper
              producer (a partnership with Freeport-McMorRan Inc. and Sumitomo Corporation). </p>
            <p> For a printed version of the Company&#8217;s 2019 Form 20-F, please contact the persons indicated in this press release, or download a PDF format file from the Company&#8217;s web site. </p>
            <p> (*) Operations wholly owned by Buenaventura </p>
            <p> <b>Note on Forward-Looking Statements</b> </p>
            <p> This press release may contain forward-looking information (as defined in the U.S. Private Securities Litigation Reform Act of 1995) that involve risks and uncertainties, including those concerning the Company&#8217;s, Yanacocha&#8217;s and Cerro
              Verde&#8217;s costs and expenses, results of exploration, the continued improving efficiency of operations, prevailing market prices of gold, silver, copper and other metals mined, the success of joint ventures, estimates of future explorations,
              development and production, subsidiaries&#8217; plans for capital expenditures, estimates of reserves and Peruvian political, economic, social and legal developments. These forward-looking statements reflect the Company&#8217;s view with respect to the
              Company&#8217;s, Yanacocha&#8217;s and Cerro Verde&#8217;s future financial performance. Actual results could differ materially from those projected in the forward-looking statements as a result of a variety of factors discussed elsewhere in this Press
              Release. </p>
          </div>
          <div class="bw-release-contact">
            <h2 style="FONT-SIZE: 14pt;">Contacts</h2>
            <p> Contacts in Lima: <br>
              Daniel Dominguez, Chief Financial Officer <br>
              (511) 419 2540 </p>
            <p> Rodrigo Echecopar, Head of Investor Relations <br>
              (511) 419 2591 <br>
              rodrigo.echecopar@buenaventura.pe </p>
            <p> Contacts in NY: <br>
              Barbara Cano <br>
              (646) 452 2334 <br>
              barbara@inspirgroup.com </p>
            <p> Company Website: <br>
              www.buenaventura.com.pe/ir </p>
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    <div style="color: #000000;">Signature</div>
    <div><br>
    </div>
    <div style="text-align: justify; color: #000000;">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.</div>
    <div><br>
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    </div>
    <div style="color: #000000;">COMPA&#209;&#205;A DE MINAS BUENAVENTURA S.A.A.</div>
    <div><br>
    </div>
    <div style="color: #000000;">&#160;</div>
    <div style="color: #000000;">&#160;</div>
    <div><br>
    </div>
    <div style="color: #000000;">By: /s/ DANIEL DOMINGUEZ</div>
    <div><br>
    </div>
    <div style="color: #000000;">Name: Daniel Dominguez</div>
    <div><br>
    </div>
    <div style="color: #000000;">Title: Chief Financial Officer</div>
    <div><br>
    </div>
    <div style="color: #000000;">&#160;</div>
    <div style="color: #000000;">&#160;</div>
    <div><br>
    </div>
    <div style="color: #000000;">Date: January 29, 2021</div>
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