Peru copper output falls nearly 5% in November on Antamina slide
me-metals: Copper output in Peru dipped in November as production from the Antamina mine slid, according to data from the Andean nation’s energy and mines ministry published on Wednesday.
According to me-metals cited from mining.com, Peru is the world’s third-largest miner of the key industrial metal.
Overall, national copper production fell 4.6% in November compared to the year-ago month to settle at 241,883 metric tons, a report from the ministry showed. That brought output last year through November to 2.47 million tons, slipping 1.1% compared to the same period in 2023.
The November output was hit by a drop in production at the Antamina mine, jointly operated by Glencore, BHP, Teck and Mitsubishi, which fell 31%.
Copper production, among Peru’s most important economic drivers, is expected to hold steady in 2024 and 2025 at around 2.8 million tons, according to industry experts. Production growth is seen hampered by aging mines affecting ore grades, as well as a lack of new projects coming online.
source: mining.com
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