May 18, 2016 / 12:52 AM / in 2 years

Peru miner Volcan sees 6 pct rise in zinc output this year

May 17 (Reuters) - Peruvian polymetallic miner Volcan expects its zinc production to rise 6 percent this year to about 300,000 tonnes while silver output will likely be mostly stable at about 24 million-25 million ounces, the company’s president said on Tuesday.

President Jose Picasso added that the company would likely churn out 60,000-70,000 tonnes of lead in 2016, up slightly from last year.

The miner, Peru’s biggest producer of zinc, continues to scrape for savings by bargaining with providers and contractors for discounts as it struggles to weather slumping mineral prices, Picasso said.

“The price of zinc in May of last year was at $2,400 and today we’re at $1,850 or $1,860, enough to barely get by,” Picasso said on the sidelines of a mining conference.

But Picasso said the company, which closed its underground unit at its Cerro de Pasco mine in December, is still exploring for new prospects near its existing operations, “but only minimally in order to get through this stage.”

Reporting by Mitra Taj; Editing by Leslie Adler

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below