In Commodity News 10/06/2015
Peru’s production of most major metals rose in April, while silver fell, the government said.
Copper production rose 18.5% to 122,506 mt from 103,410 mt a year ago, as higher output at Antamina, Southern Copper, Chinalco’s Toromocho and Glencore’s Antapaccay mines offset declines at Freeport-McMoRan’s Cerro Verde, the Energy & Mines Ministry said on its website.
Gold production climbed 15% to 379,504 oz from 330,273 oz a year ago, on gains at mines operated by Newmont and Barrick, while molybdenum jumped 45% to 1,632 mt from 1,125 mt.
Zinc output rose 17.7% to 114,323 mt from 97,128 mt a year earlier, while lead gained 27% to 114,323 mt from 97,128 mt, on gains at Antamina, Volcan and Votorantim Metais unit Milpo.
Tin output at Minsur, the country’s only producer, rose 15% to 1,654 mt from 1,438 mt, according to the ministry. Tungsten was little changed at 13 mt at the restarted Pasto Bueno mine and cadmium output at Votorantim’s Cajamarquilla refinery rose 1% to 61 mt.
Silver slid 0.4% to 9.53 million oz from 9.57 million oz as declining production at Antamina offset gains at Buenaventura and Volcan.
Minerals account for about 60% of Peru’s total exports. Peru is the world’s third-largest copper, zinc and tin producer, it is the second-largest producer of silver and fifth-ranked gold producer.
