Peru’s Copper Production Declines 1.2% in September Amid Output Slumps from Top Miners
Peru’s copper production fell by 1.2% in September, reaching 232,423 metric tons, compared to the same month last year, according to the Ministry of Energy and Mines.
Copper is a key industry in Peru, one of the world’s largest producers, which generated 2.76 million tons in 2023.
The drop in output was largely driven by decreased production from Peru’s two largest copper miners: Cerro Verde, controlled by Freeport-McMoRan, and Antamina, jointly controlled by Glencore and BHP. Output from both mines declined by 11% and 6.7%, respectively, year-on-year.
From January to September, Peru’s cumulative copper production totaled 1.99 million tons, marking a 0.6% decline from the previous year. Due to this slowdown, the government has revised its 2024 copper production forecast to 2.8 million tons, down from the initial projection of 3 million tons.
