Surging metal prices and higher demand from China caused the value of Peru’s mining exports to rise to US$1.51 billion in the first quarter, representing a 52.3% increase over the comparable period in 2003.
Peru is the world’s sixth-largest gold producer. The country’s National Society for Mining, Petroleum and Energy says recorded gold sales in 2003 totalled US$583.7 million, whereas copper sales amounted to US$506.2 million.
Gold exports surged almost 60% in March 2004, reaching US$188.6 million, owing to an 86% rise in sales from the Yanacocha mine. Latin America’s largest gold producer, Yanacocha is owned by Newmont Mining and Peru’s Compania de Minas Buenaventura.
Copper exports hit a record US$218.8 million in March 2004, or nearly 125% higher than a year earlier. Contributing to the rise were a 40% rise in exports by Southern Peru Copper and a 25% jump in production at the Atamina base metals mine. Antamina is owned by Teck Cominco, Noranda, BHP Billiton and Mitsubishi. Southern Peru belongs to Grupo Mexico.
Zinc exports rose 35%, to US$47.4 million, between March 2003 and March 2004.
Peru ranks third among the world’s zinc producers, second in silver, and fifth in copper.
Overall, Peruvian exports in 2003 amounted to nearly US$9 billion, and mining accounted for more than half of that.
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