Peru’s base metal mined output fell by 3.06pc on an annual basis in November 2020, due to lower production of copper and lead, the National Institute of Statistics and Informatics (Inei) stated. 

 

Peru’s copper production fell by 1.9pc in November from a year ago as lower volumes were mined by Cerro Verde, Minera Antamina, Las Bambas, Nexa Resources Perú and Gold Fields La Cimasai, Inei said wihtout disclosing actual volumes. Lead production also declined 9.3pc in November 2020 compared to the same month in 2019. However, production of zinc and iron ore increased by 20.8pc and 6.9pc, respectively.

 

In November 2020, Peruvian exports of mine products fell by 27.2pc to $1.58bn from $2.17bn in November 2019. During the same period, Copper exports were short by 32.5pc to $944,700 from $1.40bn. China purchased 63.7pc of the copper exported from Peru, Inei noted. In November, Lead exports decreased by 8.3pc to $122,200 from $133,300 and zinc exports went down by 51.3pc to $85,300 from $175,100 in the same period last year. Iron ore exports, on the other hand, climbed by 13.5pc to $79,100 in November from $69,800 a year ago. 

 

Mining represents 9pc of Peru’s GDP and 60pc of its exports with copper and gold making up most of the value. 
 

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