Peru's Oct copper, zinc, lead, moly, silver shipments fall on hampered operations

Peru's copper, zinc, lead, molybdenum and silver shipments all fell YOY in October, while gold and tin deliveries rose, the government said Dec. 22.

Copper deliveries dropped 28% to 180,800 mt from 251,200 mt a year earlier, while prices jumped 53% to $4.32/lb from $2.83/lb, boosting export revenue by 10% to $1.72 billion, the central bank said in a statement posted on its website.

Zinc shipments halved to 61,300 mt from 126,800 mt a year earlier, while export revenue fell by a third to $133 million, the bank said. Lead exports dropped by a quarter to 44,400 mt from 60,900 mt, trimming export revenue by 14% to $107 million. Prices rose for both metals.

Molybdenum deliveries plunged 37% to 2,400 mt from 3,900 mt, while revenue rose 54% to $93 million. Silver fell 18% to 400,000 oz, while revenue was down a quarter to $9 million.

Protests in the southern Andes hampered operations at mines including China Minmetals' Las Bambas, Glencore's Antapaccay and Hudbay Minerals' Constancia.

Gold exports led by Newmont and Gold Fields rose 10.6% to 500,700 oz from 452,500 oz a year ago, increasing export revenue by 3.5% to $890 million, even as prices dipped 6.5% to $1,777/oz from $1,900/oz, the bank said.

Peru's lone tin producer, Minsur, which ramped up operations at its $171 million, 50,000 mt/y B2 tailings project, boosted tin shipments by 58% to 3,000 mt, with revenue tripling to $111 million.

Peru is the world's second-largest copper, zinc and silver producer, fourth-ranked in lead and tin and No. 6 in gold.