Peru copper output edges down 1% in September
Adds quote and details
LIMA, Nov 19 (Reuters) -Peru's copper production fell 1.2% in September compared to the same month last year to settle at 232,423 metric tons, data from the ministry of energy and mines showed on Tuesday.
Peru is one of the world's largest suppliers of the industrial metal, and copper is a key national industry that churned out 2.76 million tons last year.
The monthly drop in production was mainly due to lower supply from the Andean country's two largest copper miners - Cerro Verde, controlled by Freeport-McMoRan FCX.N, and Antamina, jointly controlled by Glencore GLEN.L and BHP BHP.AX.
Output from CerroVerde andAntamina fell 11% and 6.7% respectivelyyear-on-year, the ministry of energy and mines said in a report.
Accumulated copper output from January to September stood at 1,993,627 metric tons, 0.6% less than in the same period last year, the ministry added.
Peru's government recently lowered its 2024 copper production expectations to 2.8 million tons, from about 3 million tons projected at the beginning of the year.
Reporting by Marco Aquino; Writing by Aida Pelaez-Fernandez; Editing by Kylie Madry
Related Assets
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
