Peru was the world’s second producer of silver in 2014 after Mexico with 121.5 million ounces, the Silver Institute reported.
According to the report, Mexico tops the list with 192.9 million ounces, followed by Peru, China, Australia and Chile.
Peru’s Ministry of Energy and Mines (MEM) informed 2014’s silver production grew 2.74%, mainly driven by the positive performance of main mining companies and investment expectations.
“These variations are driven partly by major companies that contribute to 30% of silver’s national production,” MEM reported.
The rise in these companies’ production volumes resulted from an increase of the installed capacity of their concentrator plants and an improvement in the processing capacity.
The companies that have increased their 2014 production the most are Volcan with 52.19% and Southern Peru Copper Corp. (SPCC) with 11.98%.
Silver production in March totaled 30,226,877 ounces, recording a cumulative expansion rate of 10.92%.
A similar behavior was observed in the monthly performance with an increase of 15.01%.
In this case, the highlight was Buenaventura mining firm, whose production (3,158,781 ounces) accounted for 16.25% of the national production, followed by Vocan with 10.32%.
(END) RGP/JJN/RMB/MVB
Published: 5/7/2015