Peru: Copper, zinc, iron, molybdenum production up in Jan-Oct 2017

Las Bambas

Las Bambas

08:00 | Lima, Nov. 29.

Peru's mining sector saw increases in the production of zinc (10.8%), iron (10.5%), molybdenum (8%) and copper (3.6%) in the first 10 months of 2017 over the same period last year, Energy and Mines Ministry informed Tuesday.

Thus, zinc output reached 1.2 million fine metric tons (FMT).

Said positive outcome was mainly driven by greater dynamism at Antamina mining company, whose production totaled 362,255 FMT and accounted for 29.99% of Peru’s total output.

On the other hand, copper yield amounted to 2.01 million FMT, mostly underpinned by Sociedad Minera Cerro Verde, which represented 21.05% of the country’s total production during said period.

"These volumes are significant thanks to the consolidation of several projects, as well as [mine] expansions implemented during the last two years," Deputy Mines Minister Ricardo Labo noted.

Nevertheless, the production of gold, silver, lead and tin slid between January and October 2017, if compared to the same period last year.


Copper production decreased 2% last October from the similar month in 2016, due to lower production at mines such as Cerro Verde, Las Bambas, Antamina and Antapaccay.

At the regional level, Arequipa, Apurimac, Ancash and Cusco stood out as the leading copper producers in October 2017.

Moreover, gold output grew 4.9%, explained by increased production at Buenaventura, Barrick Misquichilca, Consorcio Minero Horizonte and Poderosa.

Within this context, the most outstanding regions were La Libertad, Cajamarca, Arequipa and Madre de Dios. Together, they accounted for 73.53% of total gold yield.

Zinc production also saw a 3.8% increase in the tenth month of the year.

It must be noted Peru's GDP expanded 2.4% in the January-September period, whereas the GDP from metallic-mining activity rose 4.5%, merely surpassed by fishing activities.


Published: 11/29/2017