Gold and iron ore production up in January, other key metals down

Gold and iron ore production in Peru increased last month by 14 percent and 32 percent, respectively, compared to January 2009 levels, while the production of other key metals fell, the Ministry of Energy and Mines said in a statement on Tuesday.

Gold production last month totalled more than 15.8 million fine grams, up from about 13.8 million fine grams produced in January 2009. The increase in Peru’s gold production, the ministry says, is due to a 57 percent increase in output last month by Minera Barrick Misquichilca, a subsidiary of Toronto-based multinational Barrick Gold. Barrick produced 31 percent of Peru’s gold last month.

Iron ore production reached 442,976 tonnes last month, a growth of 32 percent from the 336,253 tonnes produced in January 2009. Peru has only one iron ore miner, Shougang Hierro Peru, a subsidiary of Chinese state mining company Shougang. Their iron ore mine is located about 330 miles south of Lima in the department of Ica.

Copper production fell by 4.7 percent last month, from 106,797 tonnes in January 2009 to 101,825 tonnes. The ministry says this was due to a 54 percent decrease in production reported by Peruvian company Los Quenuales and a 47 percent drop by miner Colquisiri.

Peru’s zinc production dropped by 8.87 percent last month compared to 2009. National zinc production totalled 124,621 tonnes, down from 136,751 tonnes in January 2009. Los Quenuales mining company reported a 85 percent decrease in its zinc production, while Peruvian zinc miner San Ignacio de Morococha saw a decrease of 44 percent.

Silver production dropped by 2.71 percent from 304,200 fine kilograms in January 2009 to 295,968 fine kilograms last month. Silver production at Ares mine, which is owned by British-based Hochschild Mining and located about 170 miles from the city of Arequipa in Peru’s southern Andes, fell by 43 percent.

Lead production in Peru last January was 23,248 tonnes, the ministry added, a 15 percent drop from the 27,203 tonnes reported in January 2009. Chungar mining company, a subsidiary of Peru’s Volcan miner, reported a 30 percent decrease in lead production.

Peru is the world’s second largest producer of copper and sixth biggest in gold. It is also a top producer of silver, zinc, tin and lead.

Sharing is caring!

Leave a Reply

Your email address will not be published. Required fields are marked *