Peru, the world’s fifth-largest gold and third silver producing country registered mining output expansion in the first six-month period of the current year, the Ministry of Energy and Mines (MEM) reported on Tuesday.
The gold production experienced a 7.7 por ciento increase, whereas the silver output grew by 3.5 or ciento in the anaylzed term.
Between January and June 2015, gold's year-on-year yield amounted to 2.2 million fine grams. In 2014, it had reached 2.09 million.
According to Peruvian authorities, rise is due to the recovery of production at the Latin America's largest gold deposit Yanacocha, operated by U.S. Newmont Mining Corporation. Its yield accounts for 20.57 por ciento of the Peruvian produce.
Productive recovery at Canadian Barrick Misquichilca mining company also contributed to the positive result.
Silver
With respect to silver, a 3.5 por ciento increase placed the output at 60.2 million kilograms compared to the 58.1 million registered during the first half of 2014.
In 2014, gold and silver production fell by 10.4 por ciento and 2.7 por ciento, respectively compared to 2013 due to world economic slowdown, the Peruvian Ministry of Energy and Mines indicated.
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JRA