Freeport Indonesia to process 400,000t of copper concentrate at new smelter
Earlier this month, Freeport obtained an export permit for the rest of the year from the government.
Peru’s economy shrank by 0.63% in August compared to the same month a year earlier, undershooting analysts’ expectations, figures from the national statistics institute (INEI) showed on Sunday.
Economists polled by Reuters had forecast the economy would show a contraction of 0.2%.
Economic output in the world’s No.2 copper producer was dragged down by a drop in activity in sectors such as farming, manufacturing, construction and transportation, INEI said.
That performance was partly offset by an increase in mining activity, fishing and the energy sector, it added.
The latest data meant that during the first eight months of this year, the Peruvian economy contracted by 0.58%, INEI said.
A breakdown of the figures showed that manufacturing dipped by 4.11% year-on-year and construction by 9.57%. By contrast, the mining and hydrocarbon sector grew by 5.17%, while fishing posted a 49.14% jump, the figures showed.
(By Vivian Sequera and Dave Graham; Editing by Lisa Shumaker)
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