Peru's copper output rises in 2006; gold output down
Source: Hoovers
metalsplace.com
Production of copper in Peru rose 3.9% in 2006 to 1,048,897 metric tons, the Ministry of Energy and Mines said late Wednesday.
The ministry also said gold output fell 2.3% during the year to 203,269 kilograms, it added.
December gold output was 15,426 kilograms, down 26.2% from the same month a year earlier, mainly because of declining production at the giant Yanacocha mine.
Zinc output totaled 201,794 tons in 2006, little changed from the 201,671 tons produced in 2005, the government said.
Mineral production has become a key force driving the Andean nation's economic growth, with a number of new mines opening in recent years.
Industry officials expect copper production to rise some 13% in 2007, mainly because of a planned increase in operations at Sociedad Minera Cerro Verde SAA (CVERDEC1.VL).
They also expect gold output to decline some 13% in 2007 from 2006.
Newmont Mining Corp. (NEM) has a 51.35% stake in Minera Yanacocha, while Peru's Compania de Minas Buenaventura SAA (BVN) holds a 43.65% share. |
