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Mining industry

Peru's Mineral Production Sees Mixed Results in May

Strategic Insights

— 1 min read

Mineral production has become a key driver of economic growth in Peru, with several new mines opening in recent years. In May, the Energy and Mines Ministry reported varying output levels across different minerals. Gold production saw a 6.1% increase to 14,204 kilograms, while copper production rose 7.6% to 83,252 tons. However, zinc production fell 13.8% to 101,353 tons, and silver production declined 2.2% to 246,996 kilograms.

Key Takeaways:

  • Gold output in May totaled 14,204 kilograms, a 6.1% increase from the same month the previous year.
  • Copper production rose 7.6% to 83,252 tons in May, with significant increases at Compania Minera Antamina and Sociedad Minera Cerro Verde SAA.
  • Zinc production fell 13.8% to 101,353 tons in May, mainly due to declines at Compania Minera Antamina, Volcan Compania Minera SAA, and Compania Minera Milpo SAA.
  • Molybdenum output rose 50% to 1,317 tons in May, while lead production increased 0.7% to 25,324 tons.
  • Tin output was 3,704 tons in May, up 9.5% from the same month in the previous year.
  • Iron output totaled 359,565 tons in May, a 6.9% decrease from the same month the previous year.
  • Newmont Mining Corp. holds a 51.35% stake in Minera Yanacocha, while Compania de Minas Buenaventura SAA holds a 43.65% share.
  • The owners of Antamina include BHP Billiton, Noranda Inc, Teck Cominco Corp., and Mitsubishi Corp.

Statistics:

  • Gold production in May: 14,204 kilograms, a 6.1% increase.
  • Copper production in May: 83,252 tons, a 7.6% increase.
  • Zinc production in May: 101,353 tons, a 13.8% decrease.
  • Molybdenum production in May: 1,317 tons, a 50% increase.
  • Lead production in May: 25,324 tons, a 0.7% increase.
  • Tin production in May: 3,704 tons, a 9.5% increase.
  • Iron production in May: 359,565 tons, a 6.9% decrease.
  • Antamina ownership structure: BHP Billiton (33.75%), Noranda Inc. (33.75%), Teck Cominco Corp. (22.5%), and Mitsubishi Corp. (10%).

Sources:

  • Dow Jones Commodities News via Comtex
  • Energy and Mines Ministry of Peru
  • Compania de Minas Buenaventura SAA
  • Newmont Mining Corp.
  • BHP Billiton
  • Noranda Inc.
  • Teck Cominco Corp.
  • Mitsubishi Corp.
  • Dow Jones Newswires

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