Andina

Peru's zinc, tin, and copper production records significant growth in May

15:05 | Lima, Jul. 2.

Peru's Energy and Mines Ministry (MEM) on Monday informed the production of some minerals has experienced significant growth in May 2018, while there has been a decline in others, with respect to the same month in 2017.

These results occurred as mining investment totaled US$376 million, up 31.1% from May last year (US$286 million).

Production of zinc, tin, and copper rose 8.7%, 4.5%, and 1.8%, respectively, compared to the same month a year earlier, according to data from the Mining Statistics Bulletin.

Nevertheless, gold, silver, lead, iron, and molybdenum's output declined during the same period.

According to said report, Peru is an important metal producing country. In fact, it is the second-largest producer of copper, zinc, and silver in the world.

Likewise, the Andean nation ranks fourth in the production of lead and molybdenum and is the sixth-biggest gold and tin producer.

At the Latin American level, Peru is the largest gold, zinc, and lead producer. Plus, it ranks as the second-largest producer of copper, silver, and molybdenum.

Investments 

According to MEM's General Mining Bureau (DGM), investments totaled US$1.57 billion between January and May this year, 34.4% higher than the same period in 2017.

This growth was reflected in most areas, being extraction plant and infrastructure the ones that featured most prominently reporting the largest investment amounts: US$434 million and US$386 million, respectively.

(END) CNA/RMB/MVB

Published: 7/2/2018
Most read