Peru's Mineral Production Sees Mixed Results in August

Mineral production has become a significant contributor to Peru's economic growth, with several new mines opening in recent years. In August, the Energy and Mines Ministry reported mixed results, with some minerals seeing significant increases in output, while others showed declines. The government cited production growth at several major mines, including Barrick Gold Corp.'s Minera Barrick Misquichilca and Minera Yanacocha SRL. Newmont Mining Corp. and Compania de Minas Buenaventura SAA are significant stakeholders in the mining industry in Peru.

Key Takeaways:

Gold output in August totaled 17,245 kilograms, a 27.5% increase from the same month a year before.
Silver production reached 278,710 kilograms, a 0.4% increase from the same period a year before.
Copper production fell 0.8% to 86,602 tons in August from the same month a year before, with declines at Southern Copper Corp. and Antamina.
Zinc production declined by 9.3% to 103,366 tons in August, with output at Antamina declining by 27% in the month.
Molybdenum output decreased by 9.7% to 1,227 tons in August, mainly due to a decline at Southern Copper.
Lead production increased by 2.6% to 28,343 tons in August, while tin output decreased by 5.4% to 3,722 tons.
Iron output rose by 8.7% to 403,218 tons in August, with Newmont Mining Corp. holding a significant stake in the mining industry in Peru.

Statistics:

Gold output in August: 17,245 kilograms (27.5% increase from August 2004)
Silver production in August: 278,710 kilograms (0.4% increase from the same period in August 2004)
Copper production in August: 86,602 tons (0.8% decline from August 2004)
Zinc production in August: 103,366 tons (9.3% decline from August 2004)
Molybdenum output in August: 1,227 tons (9.7% decline from August 2004)
Lead production in August: 28,343 tons (2.6% increase from August 2004)
Tin output in August: 3,722 tons (5.4% decline from August 2004)
Iron output in August: 403,218 tons (8.7% increase from August 2004)

Sources:

Dow Jones Commodities News via Comtex, "Peru's output of gold, silver and other minerals rose in August", November 14, 2005