Peru's January Gold, Silver Output Rises; Copper and Zinc Fall

Production of Peru's gold and silver increased in January, while output of copper and zinc declined, the government said.

The Mines and Energy Ministry said that Peru produced 15,116 kilograms of gold in January, up 13.2% compared to the same month last year. The ministry said that the increase was partially due to a 44.3% rise in production from Minera Yanacocha, South America's biggest gold producer.

Silver production in Peru, the world's second largest producer of the precious metal, increased 4.9% to 309,144 kilograms, the government said.

Copper output declined 4.8% in January to 97,765 tons on lower production from Sociedad Minera Cerro Verde SAA (CVERDEC1.VL), as well as declines at operations owned Gold Fields Ltd (GFI.JO) and Xstrata PLC (XTA.LN), the government said. Peru is the world's second-biggest producer of copper after Chile.

Zinc production was 102,290 tons in January, down 15.7% compared to the year-ago month.

Among some of the other minerals, molybdenum output declined 5.1% to 1,340 tons in January, the government said. Lead output increased 3.7% to 18,675 tons.

Iron ore output fell 3.3% to 522,443 tons in January, while tin output declined 7.9% to 2,095 tons.

-By Ryan Dube, Dow Jones Newswires; 51-945 043 802; peru@dowjones.com

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