Peruvian exports of copper and zinc rebounded in April, while gold, silver, lead, molybdenum and tin fell, the government said Monday.
Total metals export revenue dropped 22% to $1.37 billion in April, spurring a $861 million deficit as total exports fell 15% to $2.72 billion, the central bank said in a statement posted on its website.
Copper exports rose 40.5% to $679 million in April as Peru shipped 109,800 mt at $2.909/lb, compared with 75,300 mt at $3.289/lb in the same month a year earlier, the bank said.
Zinc exports rose 2% to $137 million after companies shipped 103,000 mt compared with 100,000 mt a year ago as higher production at mines operated by Volcan and Votorantim Metais unit Milpo offset lower prices.
Gold shipments from miners led by Newmont and Barrick halved to 243,100 oz from 483,800 oz a year earlier, spurring a 56% drop in export revenue to $316 million as the price of gold fell to $1,299/oz from $1,485/oz in April 2013, the bank said.
According to
platts.com, exports have also fallen as the Ollanta Humala administration clamps down on illegal gold mining operations in the Amazon jungle, which account for about 12% of the country's output.
Lead exports fell 48% to 88 million as shipments halved to 43,500 mt from 93,900 mt a year ago. Tin dropped 46% to $27 million as shipments from Minsur's San Rafael mine declined to 1,100 mt from 2,300 mt in April 2013.
Silver export revenue fell 31% to $32 million as silver shipments dropped to 1.6 million oz from 1.9 million oz, the bank said. Molybdenum declined 33% to $22 million as shipments fell to 1,200 mt from 1,600 mt a year earlier.
Peru is the world's third-biggest producer of copper and silver and the fifth major global producer of gold.
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Published: 6/10/2014