Silver production in Peru down 9.1% in June - report

LIMA (Aug 10)  According to the Ministry of Energy and Mines of Peru (MINEM), silver production in Peru, the world’s third largest silver producing country, was 257,645 kg in June 2022, a decline of 9.1% compared to 283,558 kg mined in June 2021.

MINEM said that similarly, Peru’s silver production of 1,496,049 kg achieved in January-June 2022 showed a contraction of 7.5% compared to the previous year, primarily due to the lower production reported by Compañía Minera Ares S.A.C. (-10.2%), Volcan Compañía Minera S.A.A. (-7.3%) and Compañía de Minas Buenaventura S.A.A. (-49.3%).

The ministry said that significant decline in Buenaventura’s silver production was due to its Uchucchacua production unit continuing to partially suspend operations.

At the company level, Compañía Minera Antamina S.A. was the largest silver producer in Peru accounting for 17.6% share of the country’s total silver production, followed by Compañía Minera Ares S.A.C. (8.3%) and Volcan Compañía Minera S.A.A. (7.0%).

At the regional level, Áncash maintained its first position accounting for 22.1% share of Peru’s total silver production, followed by Pasco (19.5%) and Junín (14.8%).

KITCO