Deep sea mining puts $560 billion in land extraction at risk — report
Even in optimal scenarios, the activity would generate only $6.25 million in tax revenue for countries involved, says Planet Tracker.
Copper production in Peru rose 17.7% year-over-year in July, the Andean country’s ministry of energy and mines said on Thursday, climbing to an output of 229,728 metric tons of the red metal in the month.
The rise is thanks to the “optimal performance” of miner Marcobre, controlled by Peru’s Minsur and Chile’s Copec; as well as the Cerro Verde mine, which is operated by Freeport-McMoRan, the ministry said in a statement.
From January to July, copper production rose 19.8% compared to the year-earlier period, the ministry added.
Peru is the world’s second-largest copper producer, though output saw a hit at the beginning of the year as anti-government protests roiled the nation.
The Peruvian government, which expects copper production this year to reach 2.8 million metric tons, has redoubled efforts to boost mining after a May report found the Democratic Republic of Congo could overtake Peru in the next few years.
In July, production of other metals such as zinc, lead, iron, tin and molybdenum also rose, the ministry said.
(By Marco Aquino and Kylie Madry; Editing by Anthony Esposito)
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