GRAPH: Mining vs AI vs Deepseek
Cheap and cheerful Chinese AI does little to unskew relative valuation of one chipmaker against the entire mining industry.
Copper production in Peru, the world’s No. 2 producer of the red metal, slipped 1.2% in January from the same month the year earlier to some 205,375 metric tons, the Andean nation’s mines and energy ministry said on Tuesday.
The new figures come after a 17% drop in output from MMG’s Las Bambas mine and a 13.4% fall from Freeport-McMoRan’s Cerro Verde mine.
That was below December’s output of around 255,000 tons, according to ministry data.
Peru’s copper production should reach 3 million tons this year after hitting 2.76 million tons in 2023, Mining Minister Romulo Mucho said earlier this month.
(By Marco Aquino; Editing by Aida Pelaez-Fernández and Anthony Esposito)
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