Growth in Peru's mining production will be slowly over the following months and will gain momentum as of 2015, mainly due to the startup of major projects and full production in the Toromocho mine by and during that year, the Ministry of Energy and Mines (MEM) said.
"Peruvian mining production will pick up next year, especially copper output, which will jump 20 percent", Guillermo Shinno, Deputy Mining Minister told Andina News Agency.
The high government official pointed out that Chinalco's recently inaugurated US$ 3.5 billion Toromocho mine and new $1.8-billion mine being built by Canada’s Hudbay will boost Peru's copper production in 2015.
"The Toromocho mine will add 275,000 tons to Peru’s current copper output of 1.4 million tons. And if the mine being built by Canada’s Hudbay begins operations by-year end and works normally, it will add 350,000 tons next year, so copper production will grow 20%", he said.
Shinno pointed out that this year's mining production was down basically because copper mine Antamina in Ancash is producing lower ore grades, because, among other reasons, to its geology.
Likewise, he went on to note the silver and gold production will grow slowly in the next two years, but output will pick up by 2017.
Peru is the world's third-biggest producer of copper after Chile and China. Copper is the country's main export product.
(END) AAC/AQR/DLG
Published: 9/20/2014