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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: Ken Benes who wrote (46344)	12/27/1999 10:30:00 PM
From: lorne	Respond to of 116994

Peru's Gold Output Surges 37%, Copper Climbs 3.8% in November vs Year Ago Tue, 28 Dec 1999, 1:20am EDT Lima, Dec. 27 (Bloomberg) -- Peru's production of gold and copper, its two leading exports, rose in November from a year earlier as expansion projects at major mines enabled companies to increase output. Gold production jumped 37 percent to 11,409 kilograms from a year earlier, according to preliminary Energy and Mines Ministry figures, boosted by U.S.-run Minera Yanacocha SA, Latin America's biggest gold producer and the start-up at Barrick Gold Corp.'s Pierina mine. Copper output rose 3.8 percent to 45,683 metric tons last month from a year earlier, as BHP Tintaya and Cyprus Amax Co.'s Cerro Verde mine increased output. Silver production surged 13 percent to 195,528 kilograms, and tin production surged 75 percent to 3,021 tons, while zinc output remained virtually unchanged at 73,597 tons. Minerals account for 40 percent of Peru's annual exports, so November's output is likely to help further narrow the nation's shrinking trade deficit this year. Rising production of Peru's main export minerals coincided with price increases of those metals. In the first 11 months of the year, production of gold, the No. 1 export, surged 38 percent, led by three straight months of record output at Yanacocha, owned by Newmont Mining Corp. and Cia. de Minas Buenaventura SA. Copper output jumped 11 percent in the first 11 months, led by Southern Peru Copper Corp., which expanded output at its Cuajone open pit mine. quote.bloomberg.com