Gold production down 11.2% in 2010

By
Friday, January 28, 2011

Peru's base and precious metal production fell in 2010 with lead and gold output leading the decline, the mines and energy ministry (MEM) reported in a release.

Gold production fell 11.2% last year to 163Mg (5.25Moz) compared to 184Mg in 2009.

The result was due to a decrease at Minera Yanacocha, Latin America's largest gold producer, Minera Arasi, Minera Ares and Barrick Misquichilca, a subsidiary of Toronto-based Barrick Gold (NYSE: ABX).

Start your 15 day free trial now!

cta-arrow

Already a subscriber? Please, login

December output totaled 12.7Mg, down 9.77% from 14.1Mg in the year-ago month.

Silver production was down 7.27% in 2010 to 3.64Mkg from 3.92Mkg on declines at El Brocal, Ares and Mina Quiruvilca.

Output in December totaled 312,137kg, a 4.24% decrease year-on-year from 325,957kg.

In base metals, lead output declined 13.4% for the year to 261,902t from 302,459t on drops at Minera Antamina, El Brocal, Minera Caudalosa and Quiruvilca.

Production in December was 19,589t, down 21.8% year-on-year from 25,045t.

Zinc production fell 2.8% year-on-year to 1.47Mt from 1.51Mt on decreases at El Brocal, Antamina, Minera Argentum and Quiruvilca.

December's zinc output fell 15.6% to 109,087t.

Copper output decreased 2.28% to 1.25Mt from 1.28Mt on drops at Swiss-based Xstrata's (LSE: XTA) Tintaya, Antamina and US-based Southern Copper (NYSE, BVL: SCCO).

Red metal production in December increased 2.89% to 115,171t from 111,939t.

Tin production at Peru's only producer, Minsur, fell 9.75% last year to 33,848t.

Meanwhile, iron ore output rose 36.8% in 2010 to 6.04Mt from 4.42Mt. Chinese-owned Shougang Hierro Peru is the country's only producer.

Molybdenum production climbed 38.0% to 16,963t, while tungsten output rose 13.1% to 716t.