Monthly Mining Statistical Bulletin / June 2024

Title: Monthly Statistical Bulletin – Mining, June 2024 Publisher: National Society of Mining, Petroleum and Energy (SNMPE)

Overall Industry Performance:

• In June 2024, production of copper, gold, zinc, iron, and lead decreased compared to June 2023.
• Production of molybdenum, silver, and tin increased.
• The mining sector’s GDP fell by 8% in June 2024 compared to June 2023.
• For the first half of 2024, the mining sector’s GDP was 2% higher than the same period in 2023.

Copper:

• Production: 214,000 metric tons
• 12% lower than June 2023, 8% lower than May 2024
• Decrease mainly due to lower production from Chinalco, Antapaccay, and Anglo American Quellaveco
• Average price: $4.37 per pound, 5% lower than the previous month

Gold:

• Production: 8 metric tons
• 2% lower than June 2023, 1% lower than May 2024
• Slight increases in production from Boroo, Poderosa, Yanacocha, and Horizonte
• Average price: $2,328 per troy ounce, 1% lower than the previous month

Silver:

• Production: 291 metric tons
• 6% higher than June 2023, 2% lower than May 2024
• Increase due to higher production from Buenaventura, Nexa Peru, and Southern
• Average price: $30 per troy ounce, 1% higher than the previous month

Zinc:

• Production: 107,000 metric tons
• 21% lower than June 2023, 5% lower than May 2024
• Decrease mainly due to lower production from Antamina and Chinalco
• Average price: $1.28 per pound, 5% lower than the previous month

Lead:

• Production: 25,000 metric tons
• 0.3% lower than June 2023, 1% higher than May 2024
• Slight decrease due to lower production from Chungar and Minera Bateas
• Average price: $0.97 per pound, 3% lower than the previous month

Iron:

• Production: 1,065,000 metric tons
• 15% lower than June 2023
• Decrease due to lower production from Shougang
• Average price: $107 per metric ton, 10% lower than the previous month

Tin:

• Production: 2,783 metric tons
• 6% higher than June 2023, 6% higher than May 2024
• Increase due to higher production from Minsur
• Average price: $14.5 per pound, 3% lower than the previous month

Molybdenum:

• Production: 3,779 metric tons
• 25% higher than June 2023, 0.5% higher than May 2024
• Increase due to higher production from Southern, Antamina, Anglo American Quellaveco, and Cerro Verde
• Average price: $23.23 per pound, 5% higher than the previous month

Investments:

• June 2024: $378 million, 1% lower than June 2023
• First half of 2024: $2,119 million, 10% higher than the same period in 2023
• Top investing companies: Antamina, Shougang, and Cerro Verde

Exports:

• June 2024: $4,108 million, 3% higher than June 2023
• First half of 2024: $22,062 million, 7% higher than the same period in 2023
• Copper represented 51% of mining exports, gold 30%, and iron 4%
• Mining exports accounted for 65% of the country’s total exports

The report provides a comprehensive overview of Peru’s mining industry performance, highlighting production levels, price trends, investments, and export figures for various minerals in June 2024 and the first half of the year.