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Silver production in Peru down 20% in January, ministry says

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(Kitco News) - According to the Ministry of Energy and Mines of Peru (MINEM), silver production in Peru, the world’s third largest silver producing country, was 205,489 kg in January 2023, a decline of 19.9% compared to 256,519 kg mined in January 2022.

MINEM said that this negative performance was primarily due to the lower production reported by Compañía Minera Antamina S.A. (-30.9%), Volcan Compañía Minera S.A.A. (-26.0%) and Compañía Minera Ares S.A.C. (-44.5%).

MINEM noted that in January 2023, Hudbay Perú S.A.C. produced 7,585 kg of silver (up 39.4% year-over-year), registering its highest level of production since November 2022.

At the company level, Compañía Minera Antamina S.A. was the largest silver producer in Peru accounting for 14.7% share of the country’s total silver production, followed by Minera Chinalco Perú S.A. (6.9%) and Volcan Compañía Minera S.A.A. (6.7%).

At the regional level, Pasco was first accounting for 20.9% share of Peru’s total silver production, followed by Áncash (20.0%) and Junín (14.8%).

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