Peru
News

Mixed fortunes for Peru February metals exports

Bnamericas Published: Wednesday, April 13, 2016

Peru's copper and lead export revenue rebounded in February as rising shipments from new mines and expansions offset slumping prices, while exports of half-a-dozen other metals fell, the government said.

Total metals export revenue dropped 6% to US$1.37bn as total exports fell 9.3% to US$2.38bn, the central bank said in a statement. Peru's trade deficit widened to US$188mn from a US$136mn deficit a year earlier as imports totaled US$2.57bn.

Copper sales, the country's biggest export earner, climbed 0.4% to US$590mn as a 40% increase in shipments to 160,500t of copper was largely offset by a drop in prices to US$1.67/lb from US$2.32/lb a year earlier, the bank said. Both Chinalco and Hudbay Minerals ramped up output at their Peruvian copper mines, while and Freeport-McMoRan and China Minmetals brought online projects

Lead exports gained 22% to US$161mn as shipments rose 26.5% to 97,900t, countering a 3.6% drop in prices, the bank said.

Gold exports fell 7.4% to US$472mn as prices slid 2.2% to US$1,200/oz from US$1,227/oz and shipments declined 5.3% to 393,200oz from 415,000oz a year earlier, the bank said.

Silver exports dropped 15.4% to US$9mn as shipments fell 7.3% to 600,000oz and prices declined 8.7%, while zinc fell 30% to US$88mn as shipments fell 10% to 85,000t, according to the bank.

Tin plunged 41% to US$19mn as shipments from Minsur's San Rafael mine dropped 23% to 1,300t and prices also declined 23%. Molybdenum exports plummeted 47% to US$11mn as prices dropped 45% and shipments were little changed at 1,300t, the bank said.

Iron ore exports dropped by half to US$17mn as prices fell 30.6% and shipments from Shougang's Hierro Perú mine sagged 30.3% to 700,000t.

Phosphate exports fell 6.7% to US$31mn, while steel and refined metals dropped 19% to US$77mn, the bank said.

***

UPCOMING BNAMERICAS EVENT

5TH Mexico Infrastructure Summit

Click here to see the agenda and speakers

Subscribe to the most trusted business intelligence platform in Latin America. Let us show you our solutions for Suppliers, Contractors, Operators, Government, Legal, Financial and Insurance.

Subscribe to Latin America’s most trusted business intelligence platform.

Other projects in: Mining & Metals (Peru)

Get critical information about thousands of Mining & Metals projects in Latin America: what stages they're in, capex, related companies, contacts and more.

  • Project: Lezard
  • Current stage: Blurred
  • Updated: 2 months ago
  • Project: Loma Linda
  • Current stage: Blurred
  • Updated: 2 months ago
  • Project: the lost ii
  • Current stage: Blurred
  • Updated: 2 months ago
  • Project: malpaso ii
  • Current stage: Blurred
  • Updated: 4 months ago
  • Project: marten mine
  • Current stage: Blurred
  • Updated: 4 months ago
  • Project: Miscanthus
  • Current stage: Blurred
  • Updated: 4 months ago
  • Project: south paul
  • Current stage: Blurred
  • Updated: 2 months ago
  • Project: finger
  • Current stage: Blurred
  • Updated: 2 months ago
  • Project: black pampas
  • Current stage: Blurred
  • Updated: 2 months ago
  • Project: Paradise
  • Current stage: Blurred
  • Updated: 4 months ago

Other companies in: Mining & Metals (Peru)

Get critical information about thousands of Mining & Metals companies in Latin America: their projects, contacts, shareholders, related news and more.

  • Company: Shougang Hierro Perú S.A.A.  (Shougang Perú)
  • Shougang Hierro Perú S.A.A., a subsidiary of Chinese steel group Shougang Co., is Peru's only iron ore producer. The Lima-based company operates the Marcona mine in Ica region, ...
  • Company: CUMBRA Ingeniería y Construcción
  • CUMBRA Engineering and Construction, formerly known as GyM Engineering and Construction, is a regional construction company with 87 years of experience in Latin America, executi...
  • Company: Minera Las Bambas S.A.C.  (Minera Las Bambas)
  • Minera Las Bambas S.A.C., a consortium made up of MMG Ltd. – the Hong Kong listed unit of China Minmetals Corp. – Guoxin International Investment Corp. and Citic Metal Co. Ltd.,...