Peru: Copper production up 54.3% in May 2021

14:46 | Lima, Jul. 23.

Copper production expanded 54.3% last May compared to the same month in 2020, the National Institute of Statistics and Informatics (INEI) reported on Friday.

In the technical report titled Peru: Departmental Economic Outlook, INEI specified that this favorable performance was based on increased extraction of this mineral by: Antamina, Las Bambas, Chinalco Peru, Hudbay Peru, Cerro Verde, Nexa Resources Peru, and Antapaccay.

This performance was influenced by the rise in copper prices, as well as increased exports to China, the United States, and South Korea.

The base effect (May 2020) was also added to this factor. In fact, the majority of mining companies reduced their production level in the fifth month last year. Besides, some of them —such as Sociedad Minera El Brocal and Minera Shouxin Peru— did not register any productive activity last year.

Among the regions that showed positive behaviors were Huancavelica (289.5%), Ica (184.3%), Junín (45%), Ayacucho (44.1%), Lima (42.2%), Apurímac (36.5%), Cusco (17.6%), Cajamarca (10.9%), and Arequipa (1.4%).

On the other hand, production decreased in Tacna (-12.3%), Puno (-9.6%) and Moquegua (-5.4%).

(END) NDP/VLA/JJN/MVB

Published: 7/23/2021

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Peru: Copper production up 54.3% in May 2021

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