Peru’s copper production recovers in the first two months of 2023, assures Minem

Peru’s iron and copper, metallic mining production registered a significant recovery during the first two months of 2023 by achieving an increase of 5.2 percent concerning the same period of the previous year, announced this Tuesday by the Ministry of Energy and Mines (Minem).

According to the Mining Statistical Bulletin (BEM) prepared by the Mining Promotion Directorate of Minem, the January record helped cumulative production to reach 390,955 fine metric tons (TMF) as of last February, higher than the 371,590 TMF of 2022.

Only in February, the national copper production reported 192,334 fine metric tons, reflecting an increase of 11.6 percent compared to the same month of 2022, when it amounted to 172,335 TMF, the portfolio said in a statement.

It explained that the new figure is due to the higher production levels achieved by Sociedad Minera Cerro Verde S.A.A. (3.9 percent), Southern Peru Copper Corporation (2.3 percent), and Minera Chinalco Peru S.A. (15.8 percent).

The Minem pointed out that, at a departmental level, the southern region of Arequipa maintained the first position by contributing 19.2 percent of copper production, while Ancash (central west) was in second place with 16.7 percent and Moquegua (south) in third place with 15.6 percent.

Thus, Peru consolidated its position as the world’s second-largest copper producer, “which generates benefits for the national economy since this metal is the country’s main export product”, said the portfolio.

On the other hand, according to the inter-monthly analysis, increases were recorded between January and February in the production of zinc (11 percent), silver (8.6 percent), and iron (0.2 percent).

He added that in the case of iron, the growth achieved in the first two months of this year was 44.6 percent, compared to the figure recorded in 2022.

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