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Peru's copper, gold, zinc shipments rise in February

https://www.chemnet.com   Apr 11,2017 Platts
Peruvian export volumes of copper, gold, zinc, tin and molybdenum gained in February, while silver and lead shipments fell, the government said Monday.

Total metals export revenue jumped 59.8% from a year earlier to $2.23 billion in February, the central bank said in a statement posted on its website.

Copper shipments gained 44.2% to 231,300 mt a year earlier, while export revenue doubled to $1.19 billion and prices increased by 40% to $2.34/lb from $1.67/lb, the bank said. Freeport-McMoRan, China Minmetals, Chinalco and Hudbay Minerals all ramped up output at their Peruvian copper mines.

Gold exports increased by 16.8% to 476,000 oz a year ago, while export revenue rose 20% to $588 million and prices climbed 3% to $1,234/oz, the bank said. Hochschild Mining and Tahoe Resources both boosted production at mines brought online over the past two years.

Zinc shipments rose 35.3% to 115,000 mt a year earlier while revenue doubled to $194 million, according to the bank. Tin shipments from Minsur's San Rafael mine gained 6.7% to 1,400 mt, while revenue rose 40.7% to $28 million. Molybdenum shipments rose 39.6% to 1,800 mt, while export revenue doubled to $24 million, the bank said. Prices rose for all three metals.

Lead shipments fell 21% to 77,400 mt, while export revenues slid 3.5% to $155 million, offsetting a 22% increase in price, the bank said. Silver shipments halved to 400,000 oz, while export revenue declined 40% to $7 million.

Peru is the world's second-largest copper and silver producer, third-ranked in zinc and tin and No. 5 in gold.
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