Peru's March gold, copper, silver output up; zinc drops Source: Dow Jones
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Mineral production has become a motor of the Andean nation's economic growth, with a number of new mines opening in recent years.
The government said that gold output totaled 17,135 kilograms in March, up 20.7% compared with the same month a year before.
In a report, the ministry pointed to increased output at various mines, including at Barrick Gold Corp.'s (ABX) Minera Barrick Misquichilca and at Minera Yanacocha SRL, which runs one of the world's largest gold mines.
Copper production rose 12% to 96,106 tons in March from the same month a year before.
Copper output rose at Minera Antamina and at Southern Copper Corp. (PCU), the government said.
Silver production in March was 285,115 kgs, an increase of 14.3% from the same period a year before.
Meanwhile, zinc production was 90,490 tons in March, down 9.4% from the same month a year earlier.
Among some of the other minerals, the government said that molybdenum output fell 3.8% to 1,661 tons in March.
Lead production was 23,018 tons in March, a decline of 11.4% from the same month in the previous year.
Tin output was 3,360 tons in March, down 6.5% from the same month in the previous year.
Iron output totaled 431,727 tons in March, a 17.7% increase from the same month in the previous year, the government said.
Newmont Mining Corp. has a 51.35% stake in Minera Yanacocha, while Peru's Compania de Minas Buenaventura SAA holds a 43.65% share.
The owners of Antamina are BHP Billiton, with a 33.75% stake; Falconbridge Ltd. with another 33.75%; Teck Cominco Corp. with 22.5% and Mitsubishi Corp. with 10%.
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