Mining sector production increased 8.9% year-on-year in August, mainly due to higher extraction of copper, molybdenum, and silver, the
The issuing entity noted that the mining sector has accumulated 3% growth so far in 2024.
Last August, copper production grew 11.7% year-on-year due to base effects, increased ore processing, and better ore grades.
Part of the production growth at Chinalco and Las Bambas reflected the fact that maintenance was conducted in August last year.
Antamina and Antapaccay carried out greater extraction of the ore, while Cerro Verde and Southern Peru's Toquepala reported higher copper grades.
Likewise, molybdenum production grew 42.4% associated with the increased production from Antamina, Quellaveco, Southern, Las Bambas, and Chinalco.
For its part, lead and silver extraction increased by 10.1% and 30%, respectively.
"In both cases, the growth is mainly explained by Buenaventura. For silver, the contribution of Las Bambas stands out due to the mineral found in the expansion of the Ferrobamba pit, while tin production grew 5% due to Minsur," the BCR explained.