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Peru's copper output dips for second straight month in August

11th October 2022

By: Reuters

  

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LIMA - Peru's copper production fell 1.5% year-on-year in August, the second consecutive monthly drop, due largely to lower activity from several mines controlled by Freeport-McMoRan and Grupo Mexico, according to government data.

Copper output in the world's second largest copper producer reached 207 739 t in August.

The South American country produced 1.5-million tonnes of the red metal in the first eight months of this year, a 0.3% drop from the same eight-month period last year, the energy and mines ministry said in a report released on Sunday.

Major copper mine Cerro Verde, controlled by Freeport-McMoRan and Buenaventura, reported an 11.5% decrease in its production during August; while output from Grupo Mexico's Southern Copper mines fell by 10.6%, according to the report.

Production recovered in June from the major Las Bambas mine controlled by China's MMG following the restart of operations after a truce reached with protesting communities that had prompted a temporary closure.

But the truce ended with no agreements, sparking fears of potential new conflicts going forward.

Edited by Reuters

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