According to Webstock Inc., citing foreign media on January 5, data released by Peru's Ministry of Energy and Mines on Wednesday showed that Peru's copper production in November 2024 declined due to a drop in output from the Antamina mine.
Peru is the world's third-largest copper producer.
The data showed that overall, Peru's national copper production in November fell by 4.6% year-on-year to 241,883 mt. From January to November 2024, total copper production amounted to 2.47 million mt, down 1.1% compared to the same period in 2023.
The Antamina mine, jointly operated by Glencore, BHP, Teck, and Mitsubishi, saw a 31% decline in production, impacting November's output.
Copper production is one of Peru's most important economic drivers. According to industry experts, production is expected to stabilize at around 2.8 million mt in 2024 and 2025. However, production growth is hindered by aging mines affecting ore grades and a lack of new projects coming online.
