Peru, one of the world's largest copper producers, saw a significant decline in its copper output in June, marking a nearly 12% drop compared to the same period last year. This downturn is reflective of broader challenges within the country's mining sector, where most companies reported decreased production.
- According to data released by Peru's Ministry of Energy and Mines, copper production fell to 213,580 metric tonnes in June, down from 241,880 tonnes in June 2022. This also represents a 7.7% decrease from May's output, highlighting the continuing downward trend in the nation's copper industry.
- The decline in output was widespread across the sector. Minera Chinalco, one of the major players in Peru, experienced a staggering 60% drop in production, bringing its June output down to approximately 8,210 tonnes. Similarly, Minera Antapaccay, controlled by global mining giant Glencore, saw a 40% reduction, with June output falling to 8,680 tonnes.
- The overall year-to-date copper production in Peru also fell by 2.1%, totaling 1.3 million tonnes by the end of June.
- In addition to copper, Peru's zinc production also suffered a significant hit, falling by 21% year-on-year to 106,650 tonnes in June. However, there was a bright spot in the country's molybdenum production, which saw an increase of around 25% from the previous year, reaching 3,780 tonnes in June.
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