Peru miners boost copper, gold, zinc production in July

Monday, September 11, 2017

Peru's miners boosted production of seven metals in July, while lead and cadmium declined, according to the government.

Copper output gained 2% to 205,998t in July from 201,891t a year earlier, the energy and mines ministry (MEM) said in a statement.

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Freeport's Cerro Verde mine produced 289,475t copper through the first seven months, followed by China Minmetals' Las Bambas (258,701t), Antamina (253,677t), Southern Copper (170,983t), Glencore's Antapaccay (112,030t), Chinalco's Toromocho (105,913t) and Hudbay Minerals' Constancia deposit (67,284t), the ministry said.

Gold production rose 2.5% to 12,623kg from 12,315kg a year ago, the ministry said. Newmont Mining's Yanacocha mine produced 9,386kg and Barrick Gold produced 8,859kg through July. Hochschild Mining, Buenaventura and Tahoe Resources have all brought online gold mines over the past two years.

Zinc production rose 7.1% to 114,136t on gains at Antamina, while iron ore gained 14.6% to 748,307t at Peru's only producer Shougang Hierro Perú. Molybdenum and arsenic both increased by 20.8% to 2,979t and 1,867t, respectively.

Silver output rose 2.8% to 366,591kg, while tin at Peru's lone producer Minsur climbed 1.6% to 1,782t, according to the ministry.

Lead fell 5.6% to 24,991t, while cadmium production at Votorantim Metais' Cajamarquilla refinery dropped 2.9% to 67t, while manganese was down 15.9% to 87t and bismuth fell 15.9% to 87t, the ministry said. Tungsten output halted at the Pasto Bueno mine.

Minerals account for about 60% of the country's total exports. Peru, the world's second largest copper and silver producer, third ranked in zinc and tin and No. 5 in gold, aims to boost annual copper output to 3Mt/y by 2021.