This vision is closely linked to the mining and geological background of its founder, Alberto Benavides de la Quintana, who instilled from the company’s early years a distinctive understanding of mining, grounded in applied knowledge, the patience inherent to long-cycle activities, and a rigorous reading of the Peruvian territory. Julcani, a historic silver mine located in Huancavelica, occupies a central place in this foundational history. In addition to being the company’s first production unit, it represents the environment in which a distinctive way of conducting mining in Peru was forged, marked by demanding geographic conditions and an early, direct relationship with the surrounding social environment. It is worth noting that in the 1950s, when the company was founded, the highway connecting Huancayo and Huancavelica had not yet been built, and access was primarily by rail. Julcani is located on an isolated mountain in the Andes, 55 kilometers east of the city of Huancavelica and 22 kilometers west of Lircay, underscoring the logistical and operational challenges associated with its development. Around Julcani, technical capabilities were developed, human talent was trained, and an early relationship was established with local communities, as well as with workers and their families, who at that time resided within the mining unit. This initial experience, which already placed people at the center of operations, functioned as an organizational formative space, an “alma mater” whose lessons were later replicated and adapted in subsequent company projects. Environmental stewardship was also embedded from the outset, with particular emphasis on water management as a central operational concern. Another structural feature of Buenaventura is its long-term commitment to Peru, reflected in its decentralized development across multiple regions of the country. Today, the company operates in eight of Peru’s twenty-four regions. According to the 2025 Integrated Annual Report, its operations generate employment for more than 18,000 workers, including both direct employees and contractors. Of this total, 65% are from the regions where the company operates. This scale of employment helps explain the economic dynamism associated with mining activities, particularly in regions where alternative productive opportunities are limited. In this context, Buenaventura’s territorial presence can be understood as part of a broader process of regional integration. From its early stages, the company demonstrated a systematic commitment to incorporating technology to improve operational efficiency and raise safety standards, in a context where operating in the Andes entails significant technical and human challenges. Innovation has been conceived as a means of making mining operations viable from the exploration stage onward, protecting people, and optimizing resource use. This approach has also been reflected in sustained metallurgical research efforts aimed at addressing specific characteristics of mineral deposits, which are developed in subsequent sections. These elements, combined with an organizational culture centered on work, professional development, and discipline, complete the configuration of a corporate DNA that runs through Buenaventura’s history and lays the groundwork for subsequent phases of its evolution. 176
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