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Post by Franko10 ™ on Mar 15, 2005 8:36:27 GMT -5
Peru Jan Copper, Silver Output Rises; Zinc And Gold Fall (djones)
LIMA -(Dow Jones)- Peru's output of copper and silver rose in January, while production of zinc and gold declined in the first month of the year, the Energy and Mines Ministry said Tuesday.
The ministry said that exports of mining products rose 43.9% in January to reach $658 million, helping lead economic growth in the Andean nation.
Copper production rose 9.2% in January to 80,833 metric tons, mainly due to increased output at Compania Minera Antamina.
Output there rose 60.7% over the same month a year earlier due to processing of higher grade ore, the government said.
The ministry said that output at Southern Peru Copper Corp. (PCU) decreased 12.1% during the month due to lower grade ore. Output also declined at BHP Billiton's (BHP) Tintaya operation and at Sociedad Minera Cerro Verde SAA.( CVERDEC1.VL)
In January gold output totaled 15,517 kilograms, down 11.9% over the same month a year before, in part due to a 47.7% decline at Barrick Gold Corp. 's ( ABX) Pierina mine.
Output also declined by 5.3% at Minera Yanacocha SRL, the government said.
In January, zinc output fell 7.2% to 105,472 tons, mainly due to lower zinc output at the Antamina mine, but also weaker production at Volcan Compania Minera SAA (VOLB.VL) and at other mines, the ministry said.
Silver production in January was 275,804 kgs, an increase of 12.4% from the same period a year earlier.
Among some of the other minerals, the government said that lead production was 26,831 tons in January, an increase of 5.4% from the same month in the previous year.
Tin output was 3,350 tons in January, up 5.3% from the same month in the previous year.
Iron output fell 6.1% in January to 386,214 tons, the government added.
Molybdenum production rose 86% in January from the same month a year before to 1,372 tons, it said.
Minera Yanacocha is run by Newmont Mining Corp , (NEM) while Buenaventura SAA ( BVN) also holds a large stake.
The owners of Antamina are: BHP Billiton (BHP) with a 33.75% stake through its Rio Algom Ltd subsidiary; Noranda Inc (NRD) with another 33.75%; Teck Cominco Corp. (TEK.B.T) with 22.5% and Mitsubishi Corp. (MIB.TO) with 10%.
-Robert Kozak, Dow Jones Newswires; 511-221-7050;
peru@dowjones.com
Dow Jones Newswires
03-15-05 0745ET
Copyright (C) 2005 Dow Jones & Company, Inc. All Rights Reserved.
LIMA -(Dow Jones)- Peru's output of copper and silver rose in January, while production of zinc and gold declined in the first month of the year, the Energy and Mines Ministry said Tuesday.
The ministry said that exports of mining products rose 43.9% in January to reach $658 million, helping lead economic growth in the Andean nation.
Copper production rose 9.2% in January to 80,833 metric tons, mainly due to increased output at Compania Minera Antamina.
Output there rose 60.7% over the same month a year earlier due to processing of higher grade ore, the government said.
The ministry said that output at Southern Peru Copper Corp. (PCU) decreased 12.1% during the month due to lower grade ore. Output also declined at BHP Billiton's (BHP) Tintaya operation and at Sociedad Minera Cerro Verde SAA.( CVERDEC1.VL)
In January gold output totaled 15,517 kilograms, down 11.9% over the same month a year before, in part due to a 47.7% decline at Barrick Gold Corp. 's ( ABX) Pierina mine.
Output also declined by 5.3% at Minera Yanacocha SRL, the government said.
In January, zinc output fell 7.2% to 105,472 tons, mainly due to lower zinc output at the Antamina mine, but also weaker production at Volcan Compania Minera SAA (VOLB.VL) and at other mines, the ministry said.
Silver production in January was 275,804 kgs, an increase of 12.4% from the same period a year earlier.
Among some of the other minerals, the government said that lead production was 26,831 tons in January, an increase of 5.4% from the same month in the previous year.
Tin output was 3,350 tons in January, up 5.3% from the same month in the previous year.
Iron output fell 6.1% in January to 386,214 tons, the government added.
Molybdenum production rose 86% in January from the same month a year before to 1,372 tons, it said.
Minera Yanacocha is run by Newmont Mining Corp , (NEM) while Buenaventura SAA ( BVN) also holds a large stake.
The owners of Antamina are: BHP Billiton (BHP) with a 33.75% stake through its Rio Algom Ltd subsidiary; Noranda Inc (NRD) with another 33.75%; Teck Cominco Corp. (TEK.B.T) with 22.5% and Mitsubishi Corp. (MIB.TO) with 10%.
-Robert Kozak, Dow Jones Newswires; 511-221-7050;
peru@dowjones.com
Dow Jones Newswires
03-15-05 0745ET
Copyright (C) 2005 Dow Jones & Company, Inc. All Rights Reserved.
