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Gold production in Peru down 7.4% in May, ministry reports

Kitco Media
By Vladimir Basov
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(Kitco News) -According to the Ministry of Energy and Mines of Peru (MINEM), gold production in Peru, the world’s tenth largest gold producing country, was 7,688 kg (247 koz) in May 2023, down 7.4% compared to 8,299 kg (267 koz) mined in May 2022.

MINEM said that this negative performance was primarily due to the lower production reported by Compañía Minera Poderosa S.A. (-28.4%), Compañía de Minas Buenaventura S.A.A. (-23.6%) and Minera Yanacocha S.R.L. (-12.2%).

At the company level, Compañía Minera Poderosa S.A. maintained its first position accounting for 8.8% of total gold production in Peru, followed by Minera Yanacocha S.R.L. (8.0%) and Consorcio Minero Horizonte S.R.L. (6.9%).

At the regional level, La Libertad kept the first position accounting for 33.0% of Peru’s total gold production, followed by Arequipa (23.0%) and Cajamarca (20.2%).

The ministry also reported that gold production in Peru amounted to 37,233 kg (1.2 million ounces) in January-May 2023, which is a decline of 3.2% compared to January-May 2022 (38,574 kg or 1.24 million ounces).

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Vladimir Basov

Vladimir (PhD, MEng in Mining) is a professional mining engineer, scientist and analyst that has more than 20 years of practical in-field and research experience. He is particularly interested in collecting, processing baseline data and writing insightful data-driven mining industry analytics, articles, statistical and research reports.

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