Peruvian copper production recovered 11.2% in the first quarter of 2023

The production of copper national reached 219,275 fine metric tons (TMF) in March 2023, an increase of 20.4% compared to the same month of the previous year (182,173 TMF) leveraged by the higher production levels of Cerro Verde (+7.3%) and Southern Peru (+79.8%).

According to the Mining Statistical Bulletin (BEM) of May, the accumulated copper production in the first quarter of 2023 reached 615,514 TMF, a positive variation of 11.2% in contrast to the same period in 2022 (553,763 TMF).

At the level of mining holders, Cerro Verde SAA Mining Society consolidated itself as the main producer of red metal, with a share amounting to 18.8% of the total; followed by Compañía Minera Antamina SA, with 15.2%; and Southern Peru Copper Corporation, with a 14.2% contribution.

At the departmental level, Arequipa maintained first place with a share of 19%, followed by Moquegua (15.7%) and Áncash (15.5%). The three mines that boosted copper production in these regions are Cerro Verde, Quellaveco and Antamina, respectively.

It should be noted that Anglo American Quellaveco SA began commercial operations in September 2022, registering more than 100,000 TMF of copper at the end of the same year, and by the first quarter of 2023 it registered more than 59,000 TMF of copper.

Tin, zinc and silver on the ground

However, only copper and iron made progress in the first quarter of 2023 compared to the same period of the previous year. This second achieved an advance of 32.3%, above all due to the better results of Shougang Hierro Peru, which dominates 98.2% of national production.

For its part, gold fell -2.8%; zinc, -12.5%; silver -9.5%; lead, -5.1%; tin, -68.7%; and molybdenum -9.2%. It should be noted that this period corresponds to the strikes throughout the territory against the government of President Dina Boluarte.