SunSirs: Peru's Copper Production in June Fell Nearly 12% Year-on-year

https://www.chemnet.com   Aug 13,2024

On August 12th, foreign media reported that the Peruvian Ministry of Energy and Mines announced on Monday that Peru's copper production in June 2024 was 213578 tons, a year-on-year decrease of 11.7%. In the first six months of 2023, the country produced 1.29 million tons, a decrease of 2.1% compared to the same period last year.

Peru is the world's third-largest copper producer, losing the title to the Democratic Republic of Congo last year.

The Peruvian Ministry of Energy and Mines expects copper production to reach 3 million tons this year, higher than last year's 2.76 million tons.

The Peruvian government has been seeking to boost the mining industry, which was hit by anti-government protests early last year.

Peru hopes to benefit from the launch of the Tiamaria copper project. This project is a major copper mine project of Southern Copper Company (SCCO. N), a subsidiary of the Mexican group. Due to opposition from the local community, the project was stalled for more than a decade and is currently expected to start production in 2027.

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