Gold output falls 17.4% in January

Monday, March 7, 2011

Peru's gold production totaled 13.2Mg (424,467oz) in January, down 17.4% from 16.0Mg in the same month last year, the mines and energy ministry (MEM) reported in a release.

The decrease was due to lower output from Minera San Simón, Barrick Misquichilca, Minera Arasi and Minera Yanacocha, Latin America's largest gold producer.

Silver production fell 1.1% year-on-year to 296,421kg from 299,724kg on lower output at Minera Antamina, Minera Argentum, Minera Ares and El Brocal.

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In base metals, January's lead production decreased 23.6% to 18,073t from 23,641t in the year-ago month on declines at Volcan, Minera Corona and Chungar.

Zinc output was down 2.9% to 121,424t from 125,059t. The result was due to decreases at Pan American Silver's (TSX: PAA) Quiruvilca mine, Antamina, Minera Santa Luisa, Minera Colquisiri and Volcan.

Copper production rose 0.8% to 102,744t from 101,914t thanks to El Brocal, Milpo, Doe Run Perú's Cobriza mine, Condestable and Cerro Verde.

Iron ore output at the country's only producer, Shougang Hierro Perú, jumped 22% to 540,326t.