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  SteelHome >>Nonferrous Metals>>Market Info>>International Dynamics
 
Peruvian Copper, Zinc, Tin and Moly Output Rebounds in October As Miners Restaff

http://en.steelhome.cn [SteelHome] 2020-12-10 15:53:16

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Peru's copper, zinc, tin and molybdenum rebounded in October as miners managed to restaff operations following the end of a COVID-19 lockdown, while precious metals and lead fell.

Peruvian production of copper, zinc, tin and molybdenum rebounded in October as miners managed to restaff operations following a three-month COVID-19 lockdown.

Copper output climbed 1.4% to 207,034 mt from 204,139 mt a year ago, the Energy & Mines Ministry said in a statement Dec. 8. Gains were led by Antamina (+39.3%), Chinalco's Toromocho (+28%) and Glencore's Los Quenuales unit (+4%), according to the ministry.

Zinc production gained 8% to 142,181 mt in October as Antamina (+42.6%), Los Quenuales (+57.5%) and Nexa Resources' Milpo unit (+23.4%) boosted output, while molybdenum was up 9.2% to 2,857 mt. Tin producer Minsur, which brought online its $180 million B2 tailings plant at San Rafael last year, produced 2,156 mt of tin, up 62%.

Gold production dropped 28.2% to 7,580 kg from 10,561 kg a year ago, while silver was down 14.5% to 289,040 kg as output dropped at Newmont's Yanacocha unit, Canada's Pan American Silver and local firm Buenaventura. Lead dropped 15.6% to 22,504 mt.

Peru, the hardest-hit country by COVID-19 in the region after Brazil, saw miners struggle to rehire healthy workers following lockdown. Peru's Mining Federation, which estimates 10,000 miners have been infected, plans a series of protests starting Dec. 9 to pressure for improved safety conditions.

Peru is the world's second-largest copper, zinc and silver producer and No. 5 in gold. Minerals account for about 60% of Peru's total exports.

Source: Platts
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