The Peruvian Ministry of Energy and Mines’ latest statistical report reveals that, in the 10th month of the year, the country’s gold output fell by 6.3% when compared to October of 2017. This, despite the fact that Minera Yanacocha, which is the main producer of the yellow metal, grew its output by 8.1%.
Copper production, on the other hand, fell by 3.8% in October when compared to the previous year, silver dropped by 9.1%, zinc by 7.9%, and lead by 8.4%.
On the positive side, the MEM reported that iron ore production grew by 66.8%, despite the fact that output was on the downside following a 17-day strike by Shougang Hierro Perú’s workers demanding higher pay.
Molybdenum was also up by 20.6% in October of 2018, mostly due to positive numbers registered by Compañía Minera Cerro Verde, Southern Copper (NYSE:SCCO), and Antamina.
Finally, the ministry informed that tin output rose by 5.4% y-o-y in October thanks to increased production at Minsur’s San Rafael mine in the western department of Puno.