Peruvian mining production improved through the first 11 months of 2019, with copper, iron, and lead accounting for the highest output.

Copper production rose 1.1pc to 2.2mn mt between January and November as mining companies, such as Compañía Minera Antamina S.A and Southern Perú Copper Corporation, turned in better production cycles. 

 

Lead output increased 7.6pc to 280,593mt; iron rose 3.6pc to 8.9mn mt; tin climbed 7pc to 18,083mt; and molybdenum increased 5.5pc to 27,049mt, according to data released by Peru’s Ministry of Energy and Mines (Minem).

 

Conversely, zinc and silver production declined 6.1pc and 8.2pc to 1.27mn mt and 3.5mn mt respectively. 

 

Peru exported $2.42bn worth of minerals in October 2019, up 8.6pc compared to the same month last year. Copper, zinc, lead, and iron exports during this period increased largely because the first phase of the US-China trade deal was signed, Minem said. 

 

Mining is one of the largest drivers of Peru’s economy, representing 11pc of its GDP and 60pc of its exports. By value, copper and gold are the most important metals exported by the country.

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