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Silver production in Peru down 2.8% in July - report

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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 244,949 kg (7.9 moz) in July 2023, down 2.8% compared to 252,058 kg (8.1 moz) mined in July 2022.

MINEM said that this negative performance was primarily due to the lower production reported by Compañía Minera Antamina S.A. (-26.6%) and Compañía Minera Ares (-15.1%).

At the company level, Compañía Minera Antamina S.A. (owned by Glencore (33.75%), BHP Billiton (33.75%), Teck (22.5%), and Mitsubishi Corporation (10%)) was the largest silver producer in Peru accounting for 13.2% share of the country’s total silver production, followed by Volcan Compañía Minera S.A.A. (7.8%) and Hochschild Mining’s Compañía Minera Ares S.A.C. (7.3%).

At the regional level, Pasco was first accounting for 20.3% share of Peru’s total silver production, followed by Áncash (18.3%) and Junín (15.7%).

In January - July 2023, silver production in Peru amounted to 1,694,636 kg (54.5 moz), a decrease of 3.8% compared to January - July 2022 (1,761,302 kg or 56.6 moz).

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