Environmental protection and social responsibility have become important considerations for the mining activity throughout the different stages of a project. Sustainability of development initiatives fostered by the mining industry cannot be measured by the life of a mine, but rather by the impact that these might have on promoting different or complementary activities in other sectors, creating well being in the surrounding communities and contributing to improve the standard of living. Compañía de Minas Buenaventura S.A.A. ( Buenaventura ) has not remained alien to this global trend. Mindful of its social and environmental responsibilities, inspired by its founding rationale and in conformity with its corporate policy, the company has launched a number of different projects and initiatives en these fields. Below is a brief summary.

ENVIRONMENTAL MANAGEMENT

Buenaventura , in compliance with its environmental and safety policy, has implemented SHEB ( Buenaventura ’s Safety, Health & Environment system) in all of its operations. SHEB is made up of two components: the environmental component and the safety component. The environmental component is based on the ISO 14001 Environmental Management System, while the safety component is based on the South African NOSA system.

At Buenaventura , we are convinced that production and environmental protection go hand in hand, in the same way that good relations with the communities within the area of influence of our operations do. This conviction is in turn powered by our idea of sustainable development, which is three-dimensional: social, environmental and economic.

ENVIRONMENTAL ADJUSTMENT & MANAGEMENT PROGRAM (PAMA) & MINE CLOSURE PLANS

On completion of the Preliminary Environmental Assessment (EVAP), Buenaventura proceeded to prepare the Environmental Adjustment & Management Program (PAMA) for all of its mining operations. These have now been concluded and have obtained approval through the below-listed resolutions:

MINING UNIT	DATE OF COMPLETION AND APPROVAL BY THE MINISTRY OF ENERGY AND MINES		AMOUNT (US$)
Uchucchacua	Dec 2001	RD 302-2002-EM/DGM	3’333,711
Orcopampa	Oct 2000	RD 289-2002-EM/DGM	1’484,651
Julcani	Dec 2000	RD 298-2002-EM/DGM	3’385,806
Recuperada	May 2002	RD 098-2003-EM/DGM	548,953

Between 2000 and 2001, Buenaventura submitted the conceptual mine closure plans for its four mining units. To date, Orcopampa and Uchucchacua have approved partial mine closure plans, and the company is currently working on partial closure plans for Julcani y Recuperada. Buenaventura still has to prepare the final closure plans for all of its mining operations, pursuant to the Mine Closure Law.

CERTIFICATIONS

Orcopampa and Uchucchacua, Buenaventura ’s active mines, have obtained the coveted ISO 14001 environmental certification. This certification enjoys global recognition and serves to reaffirm our good practices and responsible environmental management.

Orcopampa was the first mining unit to attain the ISO 14001 in 2002. Since then it has renewed it every year. Uchucchacua on the other hand, obtained ISO 14001 certification for the first time in 2003, and is expected to renew it this year. As far as Julcani and Recuperada are concerned, implementation of the ISO 14001 system commenced in July 2004, and both mines are expected to attain certification by year-end 2005.

CONTINGENCY PLAN All of our mining units, without exception, have their respective Contingency Plans, establishing guidelines for the action work and response plans in the event of emergencies or other unforeseen circumstances. Periodical drills are carried out in order to ensure that staff is alert and prepared to face any type of emergency situation that may arise inside or outside of our operations. ENVIRONMENTAL PROJECTS In order to protect the environment and comply with the environmental regulations currently in force, the company is undertaking a series of projects in its different mining units, for example:

Julcani