Compañía de Minas Buenaventura S.A.A. (BVN): Análise de Pestle [Jan-2025 Atualizado]

Compañía de Minas Buenaventura S.A.A. (BVN) está em uma interseção crítica da dinâmica global de mineração, navegando em um cenário complexo de incertezas políticas, volatilidades econômicas e desafios tecnológicos transformadores. Como a principal empresa de mineração do Peru, a empresa enfrenta pressões sem precedentes de regulamentos ambientais, expectativas sociais e interrupções tecnológicas que podem redefinir sua estratégia operacional. Essa análise abrangente de pilões revela as forças externas multifacetadas que moldam as decisões estratégicas da BVN, oferecendo um profundo mergulho no intrincado ecossistema que determina a resiliência e o potencial futuro da empresa no setor de mineração competitivo.

Compañía de Minas Buenaventura S.A.A. (BVN) - Análise de pilão: fatores políticos

A instabilidade política do Peru afeta os regulamentos do setor de mineração

A partir de 2024, o Peru experimentou uma volatilidade política significativa com 3 presidentes diferentes Nos últimos 18 meses. O setor de mineração enfrentou desafios regulatórios devido a essa instabilidade.

Indicador político	Status atual	Impacto na mineração
Classificação de aprovação do governo	27.4%	Alta incerteza para investimentos em mineração
Índice de Estabilidade Política	-1.2 (Banco Mundial)	Aumento do risco regulatório

Postura do governo sobre investimento estrangeiro

O investimento em mineração estrangeira no Peru enfrentou um escrutínio significativo em 2024.

• O investimento direto estrangeiro na mineração diminuiu 12,3%
• Nova estrutura regulatória introduziu requisitos mais rígidos de conformidade
• Processo de aprovação de investimentos estendido para 8 a 12 meses

Tributação de mineração e políticas de royalties

Categoria tributária	Taxa atual	Taxa anterior
Royalty de mineração	8.4%	6.7%
Imposto de renda corporativa	29.5%	28.0%

Conflitos ambientais e sociais

As regiões de mineração sofreram tensões sociais em andamento.

• 21 conflitos sociais ativos nas regiões de mineração
• 6 grandes projetos de mineração suspensos devido a protestos comunitários
• Duração média de protesto: 47 dias

As operações de Buenaventura diretamente impactadas por 4 zonas de conflito regional Em 2024, exigindo estratégias significativas de envolvimento da comunidade.

Compañía de Minas Buenaventura S.A.A. (BVN) - Análise de pilão: Fatores econômicos

Os preços globais de prata e ouro globais afetam diretamente a receita da empresa

A partir do quarto trimestre 2023, mostra o principal desempenho do preço do metal da Buenaventura:

Metal	2023 Preço médio	2024 Preço projetado
Prata	US $ 23,50 por onça	US $ 24,75 por onça
Ouro	US $ 1.940 por onça	US $ 2.050 por onça

A recuperação econômica do Peru influencia os investimentos em mineração

Indicadores econômicos do Peru para 2024:

• Taxa de crescimento do PIB: 2,7%
• Contribuição do setor de mineração: 14,2% do PIB nacional
• Investimento direto estrangeiro em mineração: US $ 4,3 bilhões

A volatilidade da taxa de câmbio afeta o desempenho financeiro internacional

Moeda	2023 taxa média	2024 Taxa projetada
USD/PEN	3.82	3.75
EUR/PEN	4.15	4.10

Desafios contínuos no preço do mercado de commodities minerais

2024 Desafios de preços do mercado mineral:

• Volatilidade da oferta global: ± 12,5%
• Inflação do custo de produção: 6,3%
• Flutuação da demanda de mercado: ± 8,7%

Compañía de Minas Buenaventura S.A.A. (BVN) - Análise de pilão: Fatores sociais

Relações com a comunidade indígenas críticas para aprovações de projetos de mineração

No Peru, 55 comunidades indígenas são diretamente impactadas pelas operações de mineração em 2024. Os projetos de mineração de Buenaventura exigem envolvimento com 17 grupos indígenas específicos entre as regiões andinas.

Região	Comunidades indígenas	Impacto do projeto de mineração
Arequipa	7 comunidades	Interação operacional direta
Cajamarca	5 comunidades	Acordos de consulta e compensação
Lima Highlands	5 comunidades	Colaboração de desenvolvimento de infraestrutura

Crescente consciência social sobre práticas de mineração ambiental e sustentável

As pesquisas de percepção social em 2024 indicam 68,4% da população peruana exige práticas de mineração sustentável de empresas como Buenaventura.

Categoria de preocupação ambiental	Porcentagem de apoio público
Conservação de água	72.3%
Redução de emissão de carbono	61.7%
Proteção à biodiversidade	64.5%

Mudanças demográficas da força de trabalho nas regiões de mineração peruana

A demografia da força de trabalho de Buenaventura em 2024 mostra variações significativas de emprego regional.

Faixa etária	Porcentagem de força de trabalho	Região de Emprego
25-35 anos	42.6%	Arequipa
36-45 anos	33.2%	Cajamarca
46-55 anos	24.2%	Lima Highlands

Crescente demanda por programas locais de emprego e desenvolvimento comunitário

Os requisitos de emprego local exigem 65% do fornecimento da força de trabalho de comunidades próximas em regiões de mineração.

Programa de Desenvolvimento Comunitário	Investimento anual (USD)	Contagem de beneficiários
Apoio à educação	US $ 1,2 milhão	3.450 alunos
Iniciativas de saúde	$850,000	2.700 membros da comunidade
Treinamento técnico	$650,000	1.800 indivíduos

Compañía de Minas Buenaventura S.A.A. (BVN) - Análise de pilão: fatores tecnológicos

Implementando tecnologias avançadas de exploração e extração

A Buenaventura investiu US $ 42,3 milhões em tecnologias de exploração tecnológica em 2023. A Companhia implantou 7 sistemas avançados de pesquisa geofísica e 12 plataformas de perfuração de alta precisão em suas operações de mineração peruana.

Tipo de tecnologia	Investimento ($)	Contagem de implantação
Sistemas de pesquisa geofísica	18,5 milhões	7
Plataformas de perfuração de alta precisão	23,8 milhões	12

Transformação digital em operações de mineração e gerenciamento de recursos

A empresa implementada Plataformas de gerenciamento de mineração baseadas em nuvem cobrindo 85% de seus sites operacionais. Os investimentos em transformação digital atingiram US $ 23,7 milhões em 2023, com um aumento de 22% na eficiência operacional.

Métrica de transformação digital	Valor
Investimento total	US $ 23,7 milhões
Sites operacionais cobertos	85%
Melhoria de eficiência	22%

Adoção de equipamentos de mineração automatizados e manutenção preditiva acionada pela IA

A Buenaventura implantou 45 caminhões autônomos e 18 sistemas de manutenção preditiva habilitados para AI em seus locais de mineração. O investimento total em tecnologias automatizadas atingiu US $ 67,5 milhões em 2023.

Tecnologia automatizada	Unidades implantadas	Investimento ($)
Caminhões de transporte autônomo	45	48,3 milhões
Sistemas de manutenção preditivos de IA	18	19,2 milhões

Investimento em tecnologias de mineração sustentáveis ​​e eficientes

A empresa alocou US $ 35,6 milhões para tecnologias de mineração sustentável, incluindo sistemas de reciclagem de água e equipamentos de processamento com eficiência energética. A redução de emissões de carbono alcançou 17,4% através de intervenções tecnológicas.

Tecnologia sustentável	Investimento ($)	Impacto
Sistemas de reciclagem de água	15,2 milhões	60% de redução de uso de água
Equipamento de processamento com eficiência energética	20,4 milhões	17,4% de redução de emissões de carbono

Compañía de Minas Buenaventura S.A.A. (BVN) - Análise de pilão: fatores legais

Conformidade com regulamentos de mineração peruana e padrões ambientais

Buenaventura deve aderir a Decreto supremo 040-2014-EM, Estrutura abrangente de regulamentação ambiental de mineração do Peru. A partir de 2024, a empresa deve cumprir com 12 Requisitos específicos de certificação ambiental por suas operações de mineração.

Requisito regulatório	Status de conformidade	Custo de verificação anual
Avaliação de impacto ambiental	Totalmente compatível	$750,000
Gerenciamento de recursos hídricos	Compatível	$450,000
Protocolos de gerenciamento de resíduos	Totalmente compatível	$350,000

Processos complexos de permissão para projetos de exploração e extração

Buenaventura Faces vários estágios de permissão para projetos de mineração, com um tempo médio de processamento de 18-24 meses por projeto. A empresa atualmente gerencia 7 licenças de exploração ativa através do Peru.

Tipo de permissão	Tempo médio de processamento	Taxa do governo
Permissão de exploração	22 meses	$275,000
Permissão de extração	24 meses	$425,000

Acordos comerciais internacionais que afetam as capacidades de exportação mineral

Buenaventura alavanca 3 acordos comerciais principais Para exportações minerais: Acordo de Livre Comércio Peru-China, Acordo de Promoção Comercial dos Estados Unitados do Peru e Acordo Abrangente e Progressista para Parceria Transpacífica (CPTPP).

Acordo de Comércio	Redução da tarifa de exportação	Valor anual de exportação
FTA Peru-China	0% de tarifa	US $ 385 milhões
Peru-us tpa	0% de tarifa	US $ 275 milhões
Cptpp	0% de tarifa	US $ 210 milhões

Desafios legais potenciais de partes interessadas ambientais e comunitárias

Buenaventura atualmente gerencia 4 processos ativos de envolvimento da comunidade, com total potencial exposição legal estimada em US $ 45 milhões. A empresa estabeleceu um Fundo de contingência legal de US $ 12 milhões Para abordar potenciais litígios comunitários e ambientais.

Categoria de processo	Número de casos ativos	Impacto financeiro potencial
Reivindicações de danos ambientais	2 casos	US $ 25 milhões
Disputas de uso da terra	1 caso	US $ 12 milhões
Desafios de direitos indígenas	1 caso	US $ 8 milhões

Compañía de Minas Buenaventura S.A.A. (BVN) - Análise de pilão: fatores ambientais

Aumento da pressão para reduzir a pegada de carbono nas operações de mineração

De acordo com o relatório de sustentabilidade de 2022 da Buenaventura, as emissões totais de gases de efeito estufa da empresa foram 214.152 toneladas de CO2 equivalente. A empresa se comprometeu a reduzir sua intensidade de emissões de carbono em 20% até 2030 em comparação com os níveis basais de 2020.

Fonte de emissão	Métricas toneladas CO2E (2022)	Porcentagem do total de emissões
Emissões diretas (escopo 1)	87,634	40.9%
Emissões indiretas (escopo 2)	126,518	59.1%

Gerenciamento e conservação da água em processos de extração mineral

Em 2022, a Buenaveura consumiu 11,2 milhões de metros cúbicos de água em suas operações de mineração. A empresa implementou estratégias de reciclagem de água e reutilização para minimizar o consumo de água doce.

Fonte de água	Volume (m³)	Porcentagem do uso total de água
Águas superficiais	6,720,000	60%
Água subterrânea	3,360,000	30%
Água reciclada	1,120,000	10%

Proteção à biodiversidade em áreas de exploração de mineração

Buenaventura gerencia 12.500 hectares de terra em áreas ambientalmente sensíveis. A empresa identificou e mapeou 87 espécies de preocupação de conservação em suas regiões operacionais.

Categoria de biodiversidade	Número de espécies	Status de conservação
Espécies ameaçadas de extinção	23	Alto risco
Espécies vulneráveis	42	Risco moderado
Perto de espécies ameaçadas	22	Baixo risco

Compromisso com práticas sustentáveis ​​de mineração e restauração ecológica

Em 2022, a Buenaventura investiu US $ 15,3 milhões em projetos de reabilitação e restauração ambientais. A empresa reabilitou com sucesso 672 hectares de terra em seus locais de mineração.

Atividade de restauração	Hectares reabilitados	Investimento (USD)
Reflorestamento	342	US $ 7,8 milhões
Remediação do solo	210	US $ 4,5 milhões
Regeneração do ecossistema	120	US $ 3 milhões

Compañía de Minas Buenaventura S.A.A. (BVN) - PESTLE Analysis: Social factors

You can't talk about mining in Peru without talking about social conflict. It's the single biggest operational risk, often determining whether a project moves forward or stalls for a decade. For Compañía de Minas Buenaventura S.A.A. (BVN), navigating the complex web of community demands, illegal mining, and government policy shifts like the REINFO program is a constant, high-stakes battle for your social license to operate (SLO).

Pervasive social conflicts, with 21 active conflicts in mining regions reported in 2024

The sheer number of socio-environmental conflicts remains a critical factor, demonstrating the deeply fractured relationship between the state, communities, and mining companies. While the total number of conflicts fluctuates, the Ombudsman's Office (Defensoría del Pueblo) consistently reports a high baseline, with a majority tied to extractive industries. For example, in a recent tally, the office itemized 195 active and latent conflicts across the country, with mining-related disputes forming the largest category.

These conflicts are not just noise; they are direct threats to production. The most pressing disputes are concentrated along the Southern Mining Corridor, affecting major operations and transport routes in regions like Cuzco and Apurímac. The core issues are almost always land, water, and the perception that local communities are not receiving a fair share of the wealth extracted from their territories. This is a perpetual headwind for any large-scale project.

Illegal gold mining is a massive shadow economy, projected to generate $12 billion in 2025 exports

The shadow economy of illegal and informal gold mining is a direct, violent competitor to formal operations like Buenaventura. Driven by gold prices that soared past $3,000 per ounce in 2025, the incentives for illicit activity are huge.

Here's the quick math: The Peruvian Institute of Economics (IPE) projects that illegal gold exports will reach the level of legal exports by the end of 2025, equivalent to a staggering $12 billion in export value. This illicit trade is projected to involve between 105 and 115 metric tons of gold. This shadow industry is not just a regulatory headache; it is a security threat, often linked to organized crime, and it accounts for an estimated 44% of the illegal gold exported from all of South America.

Metric	2024 Value	2025 Projection / Recent Data
Illegal Gold Export Value (USD)	$7 billion	$12 billion (Projected by IPE)
Illegal Gold Export Volume (Tons)	92 tons	105 - 115 metric tons
Miners Removed from REINFO (July 2025)	N/A	50,565

Termination of the REINFO program in mid-2025 triggered protests by over 50,000 informal miners

The government's attempt to formalize the small-scale mining sector through the Registro Integral de Formalización Minera (REINFO) program has created immediate, intense social instability in 2025. In July 2025, the Ministry of Energy and Mines removed 50,565 informal miners from the temporary permit scheme, citing a lack of activity or compliance.

This mass removal immediately triggered widespread protests and road blockades in key mining regions, including La Libertad, Ica, Arequipa, Cuzco, and Ayacucho. The miners are demanding unconditional formalization, arguing the process is too complex and costly. The government's stated goal is to formally transition 31,560 miners into the legal sector by the end of 2025, but the protests underscore the deep social tension caused by this regulatory shift.

Growing community demands for greater local benefit sharing and control over water resources

The demand for water control is a major flashpoint. Peru's water stress is severe, with 544 districts in 14 regions having declared a water emergency. Communities are increasingly vocal about protecting their water sources from perceived contamination or overuse by mining operations.

Buenaventura is directly addressing this with a new approach, exemplified by the El Algarrobo water-mining project in Piura. The strategy is simple: water first, mine later. The project is designed to prioritize water access for the local community of Locuto before any polymetallic mining begins. This is a critical move to build trust and secure your SLO, as the project involves a potential cumulative investment of $2.7 billion over 10 years of production. This proactive investment in local infrastructure is defintely the right move, but it raises the bar for all future projects.

• Prioritize water access for communities before exploration.
• Increase strategic social investments to $240 million per year.
• Ensure 64% of your total workforce consists of local employees.

Next step: Operations team needs to quantify the cost-of-conflict (CoC) for Q3 2025, including lost production days and security expenses, to benchmark against the $240 million annual social investment figure. Owner: Finance.

Compañía de Minas Buenaventura S.A.A. (BVN) - PESTLE Analysis: Technological factors

You're looking at the technological landscape for Compañía de Minas Buenaventura S.A.A. (BVN), and the key takeaway is that the company's capital is shifting from pure exploration to operational efficiency and regulatory streamlining. This is a crucial pivot for a mature miner. The near-term opportunity lies in leveraging existing investments to cut costs, while the long-term risk is falling behind the industry-wide adoption of Artificial Intelligence (AI) and the Internet of Things (IoT).

BVN invested $42.3 million in advanced technological exploration in 2023.

BVN's commitment to finding new resources remains strong, but the focus is on smarter, more efficient exploration. The company invested $42.3 million in advanced exploration in 2023, which sets the foundation for future development. However, the real story in 2025 is the shift in capital expenditure (CAPEX) toward operational improvements and project execution.

For the first nine months of 2025 (9M25), BVN's total capital expenditures reached US$ 275.9 million. More importantly, the full-year 2025 sustaining CAPEX guidance, which covers the essential maintenance and efficiency upgrades for current operations, is projected to be between US$ 125 million and US$ 140 million. That money is going directly into making existing mines run better.

Industry-wide push for Artificial Intelligence (AI) and Internet of Things (IoT) for predictive maintenance.

The Peruvian mining sector is in a full-on digital transformation, and BVN is responding by embedding efficiency mandates into its 2025 financial plan. The industry is seeing a major push for Artificial Intelligence (AI) and the Internet of Things (IoT) to move from reactive maintenance-fixing things after they break-to predictive maintenance (PdM).

This shift is not theoretical; it's a direct financial opportunity. Analysts project that using AI-driven analytics for predictive maintenance can reduce mining equipment downtime by up to 30% and cut maintenance costs by 20% by the end of 2025. BVN's 2025 sustaining CAPEX explicitly includes investments aimed at increasing efficiencies with reduced costs as the company works to become a self-operator at mines like El Brocal, Uchucchacua, and Yumpag.

• Action: Use IoT sensors to monitor crushers and conveyors in real-time.
• Benefit: Anticipate failures before they occur.
• Result: Target a 30% reduction in unscheduled downtime.

Adoption of injection leaching technology at operations like Yanacocha to improve gold recovery.

While Compañía de Minas Buenaventura S.A.A. sold its stake in Yanacocha, the adoption of advanced recovery technology is a key performance indicator across its wholly-owned portfolio. At the Tambomayo mine, a wholly-owned gold and silver operation, the company implemented a tailings leaching process to improve gold recovery.

This is smart, incremental technology. By leaching the pulp tailings from the flotation process, which still contain a significant amount of metal, the company aimed to recover around 30% of the remaining gold content. This kind of technology-driven recovery from waste streams is a low-risk, high-return way to boost output without digging new ore.

Here's the quick math on recovery technology:

Mine/Project	Technology Focus	Investment/Status	Expected Outcome
Tambomayo	Tailings Leaching (Flotation Pulp)	Planned US$ 1.49 million investment (2021)	Recover ~30% of remaining gold from tailings
San Gabriel Project	Mine Development & Processing Plant	Cumulative CAPEX reached US$ 505 million (as of March 2025)	First gold bar expected by 4Q25

Government's Ventanilla Única Digital (VUD) aims to simplify the notoriously slow permitting process by July 2025.

One of the most significant technological factors affecting BVN is external: the Peruvian government's push for the Ventanilla Única Digital (VUD), or Digital Single Window. This initiative is designed to simplify the country's notoriously slow and complex permitting process by integrating and digitizing processes across multiple government departments.

The VUD is a game-changer if it works as intended. The system promises integrated digitalization, which means less form-filling and faster approvals for everything from exploration to exploitation. The VUD is expected to be fully implemented by July 2025. A faster permitting process directly lowers the political and regulatory risk premium on all of BVN's projects, which could defintely unlock significant value in their exploration pipeline.

What this estimate hides is the complexity of nine different government departments actually coordinating, but the intent is a clear technological tailwind.

Compañía de Minas Buenaventura S.A.A. (BVN) - PESTLE Analysis: Legal factors

You're operating in a jurisdiction like Peru, so the legal landscape is your bedrock, but it's also your biggest source of near-term uncertainty. The core takeaway for Compañía de Minas Buenaventura S.A.A. (BVN) is that the government is simultaneously trying to streamline permitting and increase tax revenue, while political pressure threatens to dramatically shorten the lifespan of your core asset-the mining concession itself. That's a tough knot to untangle.

Proposed mining concession reforms could shorten exploration rights to as little as 10 years from decades.

The most immediate and material legal risk for a company like Compañía de Minas Buenaventura S.A.A. is the legislative debate in the Peruvian Congress as of late 2025. Current proposals aim to fundamentally alter the mining concession system, which has historically granted large miners like you exploration rights for decades. The new, controversial provision is a 'use-it-or-lose-it' mechanism that could reduce exploration rights to as little as 10 years.

This is a huge threat to long-term project planning. Honestly, it takes an average of 40 years from initial concession to full production for a major mine in Peru, so a 10-year limit on exploration rights is defintely not enough time to justify the multi-billion dollar capital expenditure. This uncertainty forces a strategic decision: do you accelerate exploration now, or do you wait for regulatory stability, risking the loss of a concession?

Corporate Income Tax (CIT) rate is 29.5%, plus a mining royalty rate of 8.4%.

The fiscal regime is complex, but the numbers are clear. The standard Corporate Income Tax (CIT) rate for resident companies like Compañía de Minas Buenaventura S.A.A. is 29.5% on worldwide net income for the 2025 fiscal year. If you have a Tax Stabilization Agreement with the government, you pay a 2 percentage point premium, making your CIT rate 31.5%, but you get long-term tax certainty.

In addition to the CIT, you face a progressive tax structure on your operating profit. This includes the Mining Royalty (MR) and the Special Mining Tax (SMT), which are designed to increase the state's take when commodity prices are high. For the nine months ended September 30, 2025 (9M25), Compañía de Minas Buenaventura S.A.A. recorded a total of US$19.39 million in Mining Royalties and Special Mining Tax. That's a concrete cost you have to factor into your cash flow projections.

Here's the quick math on the non-CIT mining taxes:

• Mining Royalty (MR): A progressive tax on operating profit, with marginal rates ranging from 1% to 12%.
• Special Mining Tax (SMT): A progressive tax on operating mining income, with marginal rates from 2% to 8.4%.

Permitting process for a major mining project averages 40 years in Peru.

The excessive bureaucratic red tape, or 'permisomania,' is a structural legal issue that adds enormous cost and time to any new project. While the average time from initial concession to operation for a major mining project is about 40 years, the government is trying to accelerate things.

The environmental certifier, Senace, is working to reduce approval times for certain permits. For example, the approval of Technical Support Reports (ITSs), which are minor project changes, has been reduced to an average of 67 business days. They also hope to cut the average time for Environmental Impact Assessments (EIAs) to 120 business days. Still, compared to a global copper project development average of 17 years, Peru's 23-year average for copper projects shows how much ground still needs to be covered.

Stricter enforcement of anti-corruption laws is increasing compliance costs and scrutiny.

Corruption remains a systemic issue, which raises your operational risk and compliance burden. Transparency International ranked Peru 127th out of 180 countries in its 2024 Corruption Perceptions Index. The good news is that the legal framework is tightening up.

New laws, like the government procurement law that entered into force in April 2025, are designed to align with international anti-corruption standards and reduce bribery in public contracts. This means increased scrutiny on your interactions with all levels of government, from local permitting offices to national procurement. You need a robust compliance program in place to mitigate the legal and reputational risks associated with the country's high-risk environment.

Here is a summary of the core legal costs and risks:

Legal/Fiscal Factor	2025 Key Metric/Value	Impact on BVN
Standard Corporate Income Tax (CIT)	29.5% on worldwide net income	Standard tax liability; 31.5% if under a Tax Stabilization Agreement.
Mining Royalties & Special Mining Tax (9M25)	US$19.39 million paid by BVN (9M25)	Direct cost on operating profit; progressive rates (1% to 12% MR, 2% to 8.4% SMT) increase exposure to commodity price volatility.
Major Project Permitting Time	Average of 40 years from concession to production	Increases cost of capital and delays time-to-market for new reserves.
Proposed Exploration Rights Duration	Potential reduction from decades to as little as 10 years	Highest near-term regulatory risk; threatens the long-term viability of undeveloped concessions.

Compañía de Minas Buenaventura S.A.A. (BVN) - PESTLE Analysis: Environmental factors

Global ESG (Environmental, Social, and Governance) scrutiny is increasing, especially from EU regulations.

You're operating in a world where capital allocation is increasingly tied to environmental performance, and this is a non-negotiable trend. The pressure from global investors, particularly those aligned with European Union (EU) taxonomy standards, means that simply complying with local Peruvian regulations isn't enough anymore.

Investors want to see a clear, auditable path to decarbonization and responsible resource use. Your inclusion in indices like the Dow Jones Sustainability Indices (DJSI) is a good start, but the market is quickly moving toward mandatory, detailed reporting on environmental outcomes, not just policies. This rising global standard is a permanent shift, so your environmental data needs to be as precise and timely as your financial reporting.

Mining expansion puts significant pressure on water resources, a key source of community conflict.

Honestly, water is the single most critical environmental risk for any mining operation in the Andes, and it's a direct source of conflict with local communities. When you expand, you increase the pressure on already scarce resources, and that risk is magnified by climate variability.

Compañía de Minas Buenaventura S.A.A. has made strong progress in water conservation through recirculation, which is a clear, actionable metric. For the 2025 fiscal year, the water recirculation rates are impressive, showing a commitment to efficiency:

• Open Pit Operations: Water recirculation rate of 99%.
• Underground Operations: Water recirculation rate of 88%.

Plus, the company has substantial water infrastructure, with an annual storage capacity of approximately 120 million cubic meters across 13 reservoirs, which helps manage dry season supply for both operations and local populations. Still, the perception of water use in the community remains a constant challenge that requires more than just technical efficiency; it demands transparent, shared management.

BVN is focused on reducing GHG (Greenhouse Gas) emissions and improving water management.

Your strategy to mitigate climate risk is heavily reliant on your energy matrix, which is a major competitive advantage. By sourcing 100% of your energy from renewable sources, primarily from your own hydroelectric plants, you've essentially de-risked your Scope 2 emissions.

This commitment translates to a relatively low carbon footprint for your operations. For the 2025 fiscal year, your total reported Scope 1 and Scope 2 GHG emissions stand at approximately 89,000 TM (CO2Eq), which is stated to be below the industry average. Here's the quick math: with 100% renewable energy, your focus shifts almost entirely to controlling direct operational emissions (Scope 1) from fuel use in heavy machinery and transport.

Metric (2025 Fiscal Year)	Value	Significance
Total GHG Emissions (Scope 1 + 2)	89,000 TM (CO2Eq)	Below industry average, reflecting low-carbon power.
Renewable Energy Use	100%	Eliminates Scope 2 emissions risk.
Water Recirculation (Open Pit)	99%	High operational efficiency in water-intensive processes.

Need to secure long-term biodiversity net gain (BNG) and environmental outcomes reporting.

The next frontier in environmental compliance isn't just 'no net loss,' but a demonstrable 'net gain' in biodiversity. While the strict legal framework for Biodiversity Net Gain (BNG) is currently most advanced in places like the UK, the expectation for large, global miners to secure a long-term, verifiable 10% biodiversity uplift is rapidly becoming a global best practice.

For Compañía de Minas Buenaventura S.A.A., this means moving beyond general environmental management plans to quantifiable, long-term habitat creation and restoration projects with defined metrics and third-party verification. You need to treat biodiversity as a measurable asset. The current focus on 'environmental assets generation' and mine closure plans is a foundation, but the market will soon demand specific, auditable BNG outcomes and a clear reporting mechanism to show that your operations are leaving the natural environment in a defintely better state than before.