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Mining industry

Peru's Mineral Output Sees Mixed Results in April

Strategic Insights

— 2 min read

Peru's Energy and Mines Ministry has reported mixed results in the country's mineral output for April, with some commodities seeing significant declines while others experience increases. The numbers are a reflection of the country's diverse mining landscape, which includes players such as Minera Yanacocha SRL, Barrick Gold Corp.'s Pierina mine, and Southern Peru Copper Corp. Among the notable decreases, gold output fell by 2.1% to 13,977 kilograms, while copper production dropped by 9.9% to 79,623 tons. On the other hand, zinc production saw a 2.1% increase to 106,940 tons, primarily driven by increased output at Compania Minera Antamina, Volcan Compania Minera SAA, and Compania Minera Milpo SAA. Molybdenum output also rose by 17.5% to 1,230 tons, while lead and tin production saw increases of 4.9% and 1.8%, respectively. The only significant decrease was in iron output, which dropped by 1.9% to 371,624 tons.

Key Takeaways:

  • Gold output in Peru fell to 13,977 kilograms in April, down 2.1% compared to the same month the previous year.
  • Copper production declined by 9.9% to 79,623 tons in April due to decreased output at several mines, including Southern Peru Copper Corp. and BHP Billiton's Tintaya operation.
  • Zinc production in Peru increased by 2.1% to 106,940 tons in April, primarily driven by higher output at Compania Minera Antamina, Volcan Compania Minera SAA, and Compania Minera Milpo SAA.
  • Molybdenum output rose by 17.5% to 1,230 tons in April, but no specific reasons were provided.
  • Lead and tin production saw increases of 4.9% and 1.8%, respectively, to 25,606 tons and 3,310 tons, but specific contributing factors were not mentioned.
  • Minera Yanacocha SRL, which is run by Newmont Mining Corp, and Barrick Gold Corp.'s Pierina mine saw significant decreases in gold output, offsetting the increase at Yanacocha.
  • The ownership structure of major mines in Peru includes BHP Billiton's 33.75% stake in Antamina, Noranda Inc's 33.75% stake in Antamina, Teck Cominco Corp.'s 22.5% stake in Antamina, and Mitsubishi Corp.'s 10% stake in Antamina.

Statistics:

  • Gold output in April: 13,977 kilograms
  • Copper production in April: 79,623 tons
  • Zinc production in April: 106,940 tons
  • Molybdenum output in April: 1,230 tons
  • Lead production in April: 25,606 tons
  • Tin output in April: 3,310 tons
  • Iron output in April: 371,624 tons

Sources:

  • Energy and Mines Ministry (no date mentioned in the source)
  • Dow Jones Commodities News via Comtex (no date mentioned in the source)

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