TABLE-Peru's falling gold output slows in Sept, copper drops 13 pct

viernes 31 de octubre de 2014 16:49 GYT
 

LIMA Oct 31 (Reuters) - The rate of decline in Peru's gold output slowed to a 2 percent year-on-year slide in September while copper output dropped by 12.8 percent, the energy and mines ministry said on Friday.

The Peruvian government has said it is expecting a 20 percent drop in gold production in all of 2014 and a 9 percent rise in copper output.

Gold output has fallen by around 20 percent in previous months.

In the first nine months of 2014 production of gold in Peru fell 14.8 percent while copper rose 2.6 percent compared to the same period in 2013, according to official data.

The slower decline in gold production in September was driven by a 43.9 percent rise in output from Yanacocha, a large mine controlled by U.S.-based Newmont Mining Corp and Peruvian miner Buenaventura , the energy and mines ministry said in a statement.

Copper output in September was dragged down by a 33.5 percent plunge in production at Antamina, Peru's top copper miner, which is going through a period of weaker mineral grades.

Antamina - owned by BHP Billiton , Glencore Xstrata, Teck and Mitsubishi Corporation - contributes about 26.6 percent to Peru's overall copper output.

Output from Freeport McMoRan Inc's large copper mine, Cerro Verde, dropped 29 percent in September because of weaker results from its flotation units, the government said.

Peru is the world's fifth biggest gold producer and third leading copper and silver producer.   Continuación...