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Peru copper production growth near 13% in February
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Peru copper production growth near 13% in February
Apr 16, 2024 9:36 AM

LIMA, April 16 (Reuters) - Peru's copper production grew

12.7% in February to reach 216,752 metric tons, the country's

energy and mining ministry said on Tuesday.

Peru is one of the world's top producers of copper, and

mining is a key driver of the Andean country's economy.

The announcement comes a day after the government

reported that the economy

expanded 2.85% in February

, led by just over 17% growth in metals mining, which

includes copper.

Copper's February performance was due in part to a

219.4% production boost from Glencore's ( GLCNF ) Antapaccay

mine.

Anglo American's Quellaveco mine saw production

up 40.7%, with Southern Copper ( SCCO ) production up 23.1%,

the ministry said in a report.

In the year's first two months, Peru produced a total

volume of 422,127 tons, 5.4% more compared to the same period

last year.

In 2023, Peru was displaced by the Democratic Republic

of the Congo as the world's second largest copper producer,

although it remains ahead of the African country in terms of the

volume of its exports, according to data from both nations.

Mining Minister Romulo Mucho said last month he expects

copper production to reach 3.0 million tons in 2024, up from

2.76 million tons last year.

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