Peru's copper, gold, zinc production booms in August

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Tuesday, October 10, 2017

Peru's miners increased production of five major metals in August, while silver, lead and tin declined, according to the government.

Copper output climbed 3.8% to 209,091t in August from 201,482t a year earlier, the energy and mines ministry (MEM) said in a statement.

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Freeport's Cerro Verde mine produced 335,649t copper through the first eight months, followed by China Minmetals' Las Bambas (293,822t), Antamina (289,950t), Southern Copper (196,975t), Glencore's Antapaccay (127,748t), Chinalco's Toromocho (124,625t) and Hudbay Minerals' Constancia deposit (78,203t), the ministry said.

Gold production gained 6.2% to 13,529kg in August compared to 12,735kg a year ago, the ministry said. Newmont Mining's Yanacocha mine produced 10,968kg and Barrick Gold produced 10,308kg through August.

Zinc production rose 7% to 124,282t on gains at Antamina, while iron ore increased by 5% to 727,842t at Peru's only producer Shougang Hierro Perú. Molybdenum was up 9.8% to 2,552t and arsenic rose 8.8% to 1,972t.

Silver output fell 4% to 366,923kg, while lead was down 7.6% to 25,308t and tin at Peru's lone producer Minsur dropped 3.2% to 1,726t, according to the ministry.

Manganese slid 2.2% to 95t and bismuth output fell 19.6% to 9t, while cadmium production at Votorantim Metais' Cajamarquilla refinery dropped 10.2% to 69t, 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.