Peru copper rising: report

Copper production in Peru rose 21.8% in June compared to the same month last year, Reuters has reported, citing the country’s ministry of energy and mines.

Production, according to the agency, hit 241,801 metric tons in the month, with output for the first half of the year up 17.6% thanks in part to June’s boost. The ministry added that production of zinc, lead and iron was also up in June.

The rise is despite a hit against copper output earlier this year due to protest action across the nation. Despite that, mining conglomerate Grupo Mexico said in a July earnings report that it was upbeat on production prospects as tensions die down.

The government also said in April it expected total copper production for 2023 to reach 2.8 million tons.

Peru has doubled down on efforts to ramp up its production efforts following a May report that the Democratic Republic of Congo could take its place as the world’s second largest copper producer in the next few years.

Source: Reuters 

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