Peruvian gold and silver output increased 2% and 12%, respectively, in January this year, Peru’s Ministry of Energy and Mines (MEM) reported.
The production of gold in the first month of 2015 was 368.885 grams from the 361.940 grams in the same period last year.
The main reason for the increase is the yellow metal’s production from the Yanacocha mine, owned by Newmont Mining of Colorado, and the Canadian company Barrick Misquichilca.
“Peru is seventh in world ranking for holding largest gold reserves, and holds the second position in Latin America with 2,793 tons,” reads the ministerial report.
As for silver, of which Peru is the world's third largest producer, the 12% rise is equivalent to 9.8 million grams of production compared to the 8.8 million recorded in January 2014.
(END) JJN/JJN/RMB/MVB
Published: 3/27/2015