Peru copper output rises in H1

Peru’s copper production grew 8.6% year-over-year in June to 198,476t, according to the latest production bulletin published by the energy and mines ministry (Minem).

The June figure is the second highest so far this year, after January’s 199,255t. Production in March, April and May contracted 0.5%, 1.7% and 11.2% year-over-year.

Overall H1 production reached 1.1Mt, up 1.2%, because of higher output at Antamina, Cerro Verde and Chinalco, the ministry said.

Iron, tin and molybdenum output grew 3.8%, 2.3% and 9.5% in June and 0.8%, 4.6% and 4.1% in the first half.

Shougang Hierro Perú remained the biggest iron ore producer, with company output growing 1.4%. Minsur is the only tin producer, while Cerro Verde and Chinalco focus on molybdenum, also increasing production.

Yet, gold production fell 4.1% in June. Production in the first half fell 0.6% to 1.49Moz. Poderosa and Yanacocha output grew 3.2% and 5.5%, cushioning a decrease by Retamas and Ares.

Silver output contracted 9.1% in June and 7.5% in H1, while zinc production fell 21.5% and 16.4%. The drop in silver production is due to lower output by Ares, Volcan and Buenaventura, while lower zinc production was caused by falling grades at Antamina.