2294 BUENAVENTURA: LONG-TERM VALUE CREATION AND CONTRIBUTION TO PERU’S DEVELOPMENT *R.E. Benavides¹, D.A. Uceda2 ¹Board of Directors, Compañía de Minas Buenaventura S.A.A., Peru (*Presenting author: roque.benavidesg@buenaventura.pe) 2Corporate Communications, Compañía de Minas Buenaventura S.A.A., Peru ABSTRACT Compañía de Minas Buenaventura’s trajectory provides empirical evidence on the organizational and strategic mechanisms that underpin long-term value creation in mining, particularly in the context of a developing economy such as Peru’s, characterized by political, institutional, and social volatility. Drawing on an applied historical analysis, this paper identifies three factors that explain Buenaventura’s continuity and its contribution to the sustainable development of the regions where it operates and of the country as a whole: (1) continuous exploration as the core of the business model and a source of competitive advantage; (2) strategic adaptation as an organizational learning process that encompasses portfolio transitions, technological adoption, and responses to structural and regulatory constraints; and (3) sustainability integrated into the business, understood as a systematic approach that connects economic performance with social and environmental impacts beyond formal ESG frameworks. The analysis also highlights the role of corporate governance and institutional discipline as enabling conditions for building trust with capital markets and stakeholders. Evidence presented in the paper suggests that these capabilities have enabled the company to sustain operations and production over time, even within increasingly complex regulatory and social environments. These findings contribute to the discussion on how mining companies can deliver the minerals the world requires in a more reliable, responsible, and adaptive manner, in line with the World Mining Congress 2026 pillars of trust, transformation, and technology. KEYWORDS Long-term value creation; responsible mining; strategic adaptation; business-integrated sustainability; corporate governance; territorial development; Buenaventura 1. INTRODUCTION: GENERATING ECONOMIC, SOCIAL, AND ENVIRONMENTAL VALUE TO CONTRIBUTE TO PERU’S DEVELOPMENT THROUGH MINING Mining is a long-cycle, capital-intensive activity characterized by high levels of uncertainty. Not every mining project that begins at the exploration stage ultimately becomes a producing mine. This outcome depends not only on technical criteria related to geology and feasibility studies, but also on a range of administrative, social, and institutional challenges. In countries such as Peru, with a rugged geography and, at the same time, abundant natural resources, these challenges are compounded by complex regulatory frameworks, episodes of political instability, and diverse, evolving social environments. In this context, generating value through formal mining requires companies to adopt a long-term perspective and sustain a continuous capacity for adaptation.
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