Peru miners raise copper, zinc, iron ore production in H1

Peru's miners increased production of copper, zinc, iron ore and molybdenum in the first half of the year, while output of five other metals declined, according to the government.

Copper output climbed 4.7% to 1.18Mt in the period from 1.12Mt in the same period of 2016 despite strikes at units of Freeport-McMoRan and Southern Copper, the energy and mines ministry (MEM) said in a statement.

Freeport's Cerro Verde mine produced 246,384t copper through the first six months, followed by China Minmetals' Las Bambas (217,640t), Antamina (216,380t), Southern (146,258t), Glencore's Antapaccay (96,487t), Chinalco's Toromocho (91,197t) and Hudbay Minerals' Constancia deposit (57,010t), the ministry said.

Gold production fell 6% to 72,513kg from 77,138kg in 1H16 due to declining output at mines operated by Newmont Mining and Barrick Gold, the ministry said. Newmont's Yanacocha mine produced 8,039kg and Barrick produced 7,666kg through June. Newmont lowered Yanacocha's 2017 guidance earlier this year.

Zinc production rose 12.6% to 808,011t on gains at Antamina, while iron ore gained 9.5% to 4.58Mt at Peru's only producer, Shougang Hierro Perú, and molybdenum climbed 3.7% to 12,743t.

Silver output fell 0.7% to 2.16Mkg, while tin at Peru's lone producer Minsur slid 0.4% to 8,811t and lead declined 2.1% to 151,700t, according to the ministry. Cadmium production at Votorantim Metais' Cajamarquilla refinery fell 4.8% to 377t, while tungsten output halted at the Pasto Bueno mine, the ministry said.

Minerals account for about 60% of the country's total exports. Peru, the world's second largest copper and silver producer, third ranked in zinc and tin and fifth in gold, aims to boost annual copper output to 3Mt/y by 2021.