China smelter group agrees to lower Q1 copper charges
The charges tend to fall when ore supply declines and rise when more concentrate is available.
Peru’s copper production plunged 12.5% to 2.15 million tonnes in 2020, the country’s Energy and Mines Ministry said on Monday, driven down by coronavirus-related restrictions that hammered output in the world’s second-largest producer of the red metal.
The ministry said gold production also dipped 32% in 2020, to 87.3 million fine grams.
Peruvian health authorities required the country’s sprawling gold and copper mines to sharply reduce staff between mid-March and May, prompting the sharp drop in output.
The ministry added that zinc production had also fallen 5.3% to 1.33 million tonnes.
Mining is a major economic engine in Peru, accounting for nearly 60% of the Andean nation’s exports.
(By Marco Aquino and Dave Sherwood; Editing by Paul Simao)
Comments