Base Metals Aluminium, Copper, Lead, Nickel, Zinc. Bullion Gold, Silver. Energy Crude Oil, NG. Forex USD, INR, Euro, Yuan. Economic Data Reports.
LME, COMEX, NYMEX, MCX, Shanghai Markets.
Tuesday, July 8, 2014
Peru's Gold, Copper, Zinc output decline during May; Silver up 7.5% y/y
Peru gold, copper zinc and tin production declined sharply year-on-year during May this year while its Silver output advanced by nearly 7.5% from a year earlier, as per latest government data.
Gold and Silver Production Gold production declined sharply by 24.6% to 10,629 kg from 14,091 kg a year ago on falling production at mines operated by Newmont (-40%) and Barrick (-31%). Production has also fallen due to a government crackdown on illegal gold miners in the Amazon jungle.
Silver production advanced sharply by 7.4% year-on-year to 332,629 kg as Buenaventura (+24%) increased production.
Minerals account for about 60% of Peru's total exports. Peru is also the world's second-biggest silver producer and fifth biggest producer of gold.
Copper, Zinc ad Tin Production Nation's copper production dipped by 2.1% to 106,946 mt from 109,278 mt a year earlier as declines at Antamina (-27%) and Freeport's Cerro Verde mine (-11.2%) offset gains at Glencore's Antapaccay operation (+17%) and Southern Copper (+12.4%).
Zinc production fell 6.6% to 112,528 mt due to a drop in output at Antamina and mine closures by Buenaventura and San Ignacio de Morococha, while lead gained 3.1% to 23,575 mt on gains at Votorantim Metais unit Milpo and the startup of Trevali Mining's Santander mine, according to the ministry.
Minsur, the country's only tin producer, increased production 4% to 1,892 mt, while molybdenum rose 0.8% to 1,208 mt as Southern Copper increased output. Cadmium production at Votorantim Metais' Cajamarquilla refinery gained 16.3% to 67 mt and tungsten rose 64% to 7 mt.