Guatemala's base metals exports rise

Guatemala's base metals exports increased in November compared to the same month of 2013, according to central bank figures.

Lead was the country's biggest base metal export by value in the month at US$18.5mn, up from US$12.1mn, followed by iron and steel at US$10.6mn, up from US$7.05mn.

Nickel exports were worth US$7.85mn, up from US$1.22mn, with aluminum at US$8.85mn, up from US$6.19mn, and zinc at US$3.37mn, up from US$2.01mn. Precious and semi-precious metals and stones exports totaled US$29.0mn, down from US$33.5mn.

Total extractive industries exports, including mining and oil and gas products, were US$147mn, up from US$125mn, while Guatemala's total exports were worth US$861mn, up from US$804mn.

The higher lead and zinc export figures reflect production from Tahoe Resources' Escobal silver-lead-zinc mine, which began commercial production in January.

Lower precious and semi-precious metals and stones exports reflect in part declines in silver and gold prices, which both hit four-year monthly average lows in November, offset by higher silver output at Escobal.

Canadian miner Goldcorp operates the Marlin gold mine in Guatemala, while Solway Group has said it expects a sharp rise in nickel output at its Fénix operation in the country.