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Mining industry

Peru's Mining Production Declines in May

Strategic Insights

— 1 min read

Peru, the world's largest silver producer and a major gold, copper, and other metal producer, saw its mining output decline in May from the same period last year due to various factors including lower production at key mines. According to the Peruvian Ministry of Mines and Energy, gold production dropped by almost 11% to 13,903 kilograms, copper production fell by just over 4% to 103,415 metric tons, and silver production declined by 8% to 300,874 kilograms. Meanwhile, production of iron, zinc, molybdenum, and tungsten increased.

Key Takeaways:

  • Peru's gold production declined by 11% in May from the same period last year, falling to 13,903 kilograms.
  • Copper production in Peru decreased by 4.1% to 103,415 metric tons in May from the previous year.
  • Silver production in the country dropped by 8% to 300,874 kilograms in May.
  • Lead production declined by 15% to 21,926 tons, while tin production fell by 5% to 2,909 tons in May.
  • The Peruvian Ministry of Mines and Energy attributed the decline in gold and silver production to lower output at Minera Yanacocha and Minera Antamina, respectively.
  • Iron production increased by 5% to 456,559 tons, while zinc output rose by 6% to 130,142 tons in May.
  • Molybdenum production surged by almost 41% to 1,198 tons and tungsten production rose by 23% to 67 tons in the same period.

Statistics:

  • 13,903 kilograms: Decline in gold production in May from the same period last year.
  • 4.1%: Decrease in copper production in May from the previous year.
  • 8%: Decline in silver production in May from the previous year.
  • 15%: Decline in lead production in May from the previous year.
  • 5%: Decline in tin production in May from the previous year.
  • 41%: Increase in molybdenum production in May from the previous year.
  • 23%: Increase in tungsten production in May from the previous year.
  • 456,559 tons: Increase in iron production in May from the same period last year.
  • 130,142 tons: Increase in zinc production in May from the same period last year.
  • 2010: Year in which Peru's mining production declined in May.
  • 2019-2030: Time period during which Peru's mining industry is expected to experience growth.

Sources:

  • Dow Jones Commodities News via Comtex, "Peru's Gold, Silver, Copper Output Decline in May", Jun 28, 2010.
  • Ministry of Mines and Energy, Peru, "Mining Production Figures for May 2010".

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