Peru's copper production was up 3.88% YoY in Q1

According to BNAmericas, Peru's copper production reached 666,455 mt in Q1, a 3.88% increase from 641,543 mt in the same period last year.

The growth was mainly driven by mid-sized copper companies, such as Las Bambas and Anglo American, which are set to become the top local producers.

According to the Ministry of Energy and Mines, Peru's copper production in March was 229,850 mt, compared to 220,000 mt in January and 217,000 mt in February. The Moquegua region is home to Anglo American's Quellaveco and Southern Copper.

Southern Copper Corporation, a subsidiary of Grupo México, remained the largest copper producer, with an output of 105,094 mt, accounting for 15.8% of the country's total production. The company operates the Toquepala and Cuajone copper mines, as well as the Ilo smelter.

However, another major copper mine, Cerro Verde, owned by Freeport-McMoRan, saw its Q1 production decline by 7% to 100,147 mt.

The Antamina copper mine produced 97,774 mt in Q1, a 7.6% decrease. The mine's shareholders are BHP (33.75%), Glencore (33.75%), Teck (22.50%), and Mitsubishi (10%).

The Las Bambas copper mine, owned by MMG (a subsidiary of China Minmetals), produced 95,733 mt, a 70.9% increase, while Anglo American's production rose by 11.1% to 79,950 mt.

Las Bambas contributed an additional 39,700 mt in Q1; otherwise, Peru's copper production would have declined.

Chalco's copper production was 54,803 mt, a 36.5% increase. Minsur's Marcobre copper mine produced 34,599 mt, a 16.7% increase.