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Copper production in Peru up 20.4% in March as Quellaveco ramps up output, ministry says

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(Kitco News) - According to the Ministry of Energy and Mines of Peru (MINEM), copper production in Peru, the world’s second largest copper producing country, amounted to 219,275 tonnes in March 2023, up 20.4% compared to March 2022 (182,173 tonnes).

MINEM said that this positive performance was mainly due to higher production by major local copper mining companies, including Sociedad Minera Cerro Verde S.A.A. (+7.3%) and Southern Perú Copper Corporation (+79.8%).

At the company level, Sociedad Minera Cerro Verde S.A.A. is first with an 18.8% share in total Peru’s copper output, followed by Compañía Minera Antamina S.A. (15.2%) and Southern Perú Copper Corporation (14.2%).

MINEM added that at the regional level, Arequipa is first with a 19.0% share in the country’s total copper production, followed by Moquegua (15.7%) and Áncash (15.5%).

The ministry noted that Anglo American’s new Quellaveco copper mine began commercial production in September 2022. In Q1 2023, the mine produced over 59 kt of copper.

In Q1 2023, Peru produced 615,514 tonnes of copper, which is an increase of 11.2% from Q1 2022 (553,763 tonnes).

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