Peru's Copper Production in May Fell by 11.2% YoY

SHANGHAI, Jul 7 (SMM) - Peru’s copper output in May fell 11.2% year-on-year to 174,258 mt, data from the Energy and Mines Ministry showed on Wednesday, as production at the Las Bambas mine was suspended from April to early June and a drop in ore grades also dragged on.

The country is currently the second largest copper producer in the world.

The data also showed that the country produced 898,175 mt of copper in the first five months of the year, down 0.3% year-on-year.

At the same time, the Cuajone mine owned by Southern Copper was also suspended between March and April due to protest.

The Peruvian Ministry of Energy and Mines also said that copper production at Southern Copper fell 26.8% year-on-year in the January-May period due to falling ore grades. But over the same period, copper production at the Antamina mine controlled by Glencore PLC and the Cerro Verde mine owned by Freeport Macmillan increased by 3.8% and 12.6%, respectively.