Peru's copper production expands 3% in September and 16% in 9M23 - report
|Get all the essential market news and expert opinions in one place with our daily newsletter. Receive a comprehensive recap of the day's top stories directly to your inbox. Sign up here!|
(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 235,178 tonnes in September 2023, up 2.5% compared to September 2022 (229,490 tonnes).
MINEM said that higher copper production in Peru in September was achieved primarily due to the improved performance at Anglo American Quellaveco (+44.1%), Minera Las Bambas (+18.2%) and Marcobre (+22.4%).
At the company level, Freeport-McMoRan’s Sociedad Minera Cerro Verde retained first place with a 17.8% share of total copper production in Peru, followed by Compania Minera Antamina (15.5%; jointly owned by Glencore (33.75%), BHP (33.75%), Teck (22.5%), and Mitsubishi (10%)) and Southern Peru Copper (13.4%).
MINEM added that at the regional level, Arequipa is first with an 18.0% share in the country’s total copper production, followed by Moquegua (16.8%) and Áncash (15.8%).
According to the report, in January-September 2023, Peru produced 2,005,957 tonnes of copper, which is an increase of 16.0% compared to January-September 2022 (1,728,967 tonnes).
Anglo American’s new Quellaveco mine continued to contribute to the overall increase in copper production in Peru. In January-September 2023, the mine produced 225,334 tonnes of the red metal, which is more than tenfold increase compared to January-September 2022 (20,262 tonnes).