Gold production in Peru down 2.9% in November - report

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(Kitco News) - According to the Ministry of Energy and Mines of Peru (MINEM), gold production in Peru, the world’s eighth largest gold producing country, was 8,405 kg in November 2022, down 2.9% compared to 8,660 kg mined in November 2021.

MINEM said that this negative result was primarily due to lower production reported by Minera Yanacocha S.R.L. (-40.5%), Minera Aurífera Retamas S.A. (-
10.4%) and Compañía de Minas Buenaventura S.A.A. (-23.1%).

Importantly, the ministry noted that in November, Compañía Minera Poderosa S.A. (856 kg) and La Arena S.A. (338 kg) recorded their highest production levels so far in 2022.

At the company level, Compañía Minera Poderosa S.A. maintained its first position accounting for 9.8% of total gold production in Peru, followed by Minera Yanacocha S.R.L. (7.9%) and Minera Aurífera Retamas S.A. (6.6%).

At the regional level, La Libertad kept the first position accounting for 33.3% of Peru’s total gold production, followed by Cajamarca (20.6%) and Arequipa (19.3%).