Peru's copper, silver, lead production down

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Wednesday, November 29, 2017

Peru's production of half-a-dozen major metals declined in October, while gold and zinc output rose, according to the government.

Copper output fell 2% to 214,311t from 218,685t a year earlier, the energy and mines ministry (MEM) said in a statement.

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Silver output fell 8% to 347,946kg, lead was down 2.6% to 25,657t and tin at Peru's only producer Minsur dropped 7.6% to 1,471t, according to the ministry. Byproducts such as silver and lead fell as polymetallic miners focused on zinc amidst surging prices, according to national mining society SNMPE.

Iron ore plunged by half to 276,267t at Peru's only producer Shougang Hierro due to a 20-day strike, according to the ministry. Molybdenum dropped 3.8% to 2,328t, while cadmium production at Nexa Resources' Cajamarquilla refinery fell 6.7% to 64t.

Manganese production declined 10.6% to 94t, while arsenic fell 17% to 1,905t and bismuth slid 0.2% to 12td.

Gold production rose 5% to 13,275kg from 12,657kg a year ago, the ministry said. Newmont Mining's Yanacocha produced 14,016kg and Barrick Gold produced 12,993kg through October. Zinc production climbed 3.8% to 126,531t on gains at Antamina and Volcan, the ministry said.

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.