Peru: Mining production records significant growth in January 2024 compared to the previous year

Gold, zinc, silver, lead, tin, and molybdenum experience an increase, according to the latest edition of the Mining Statistical Bulletin.

The Ministry of Energy and Mines (MINEM), through the Mining Statistical Bulletin (BEM), reported that in January 2024, the metallic mining production of gold (+25.9%), zinc (+4.6%), silver (+16.6%), lead (15.9%), tin (+179.7%), and molybdenum (+8.8%) experienced significant increases compared to the same month in 2023.

Regarding the national gold production, in January of this year, the document, prepared by the General Directorate of Mining Promotion of MINEM, reported a growth of 25.9% compared to January 2023, mainly due to increased productive activity by Minera Boroo Misquichilca S.A. and Minera Yanacocha S.R.L.

Likewise, in the first month of the year, national zinc production increased by 4.6% compared to January of last year, driven by positive performance from Minera Shouxin Perú S.A., Nexa Resources Perú S.A.A., and Volcan Compañía Minera S.A.A.

Regarding silver production, it recorded an increase of 16.6% compared to the same month of the previous year, due to higher production levels reported by Compañía Minera Ares S.A.C. and Minera Chinalco Perú S.A.

Regarding national lead production, in January 2024, there was an increase of 15.9% compared to January 2023, as a result of good performance by Compañía de Minas Buenaventura S.A.A, Nexa Resources Perú S.A.A., and Volcan Compañía Minera S.A.A.

The BEM also indicates that tin production saw an increase of 179.7% compared to the same month in 2023. At the company level, Minsur S.A. continues to be the only tin-producing company in the country, operating in Puno.