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Peru Copper Output Up Nearly 2% in October as Antapaccay Surges

LIMA – Peru’s copper production rose 1.9% in October compared with the same month last year, totaling 240 097 metric tons for the month, the Andean country’s mines and energy ministry said on Monday.

Peru is the world’s second-largest producer of copper after neighboring Chile.

The ministry said in a statement the increase was due largely to strong performance at the Antapaccay mining firm, controlled by Glencore, where output jumped by nearly 36%, as well as at Grupo Mexico’s Southern Copper, where production was up by almost 7%.

In the year through October, output of the metal, which is key to industry worldwide, rose slightly more than 14% to settle at around 2.25 million tons.

Peru’s copper output was hampered early this year by production pauses triggered by violent anti-government protests across the country.

Peru’s government has said it will redouble its efforts to boost production, after a May report by research firm Wood Mackenzie said Democratic Republic of the Congo could in coming years take the South American nation’s place in global copper production rankings.

Peru’s production of gold, zinc, lead, silver and tin also rose in October, the government said, while that of iron and molybdenum fell. 

Source : Mining Weekly