Business Recorder
Peruís Feb copper output up

Peruís Feb copper output up

LIMA: Peruís copper production rose by 5.42 percent in February from the same month a year earlier, the slowest growth rate in two years as the Andean country wrestles with infrastructure damage caused by torrential rains, official data showed on Saturday.

The Ministry of Energy and Mines said in a statement that copper production totaled 178,283 tonnes in February.

Peruís entire mining sector, a key part of the economy, grew just 1.47 percent in February, compared with the 33.59 percent rise reported in February last year, the ministry statement said. The country has been hit by extraordinarily hard rains this year, which have destroyed thousands of kilometers of roads and caused other damage.

Peru, the worldís second biggest copper supplier, produced a record 2.35 million tonnes of the metal in 2016, up 38.4 percent from 2015.

Peruís economy grew 0.74 percent in February versus February 2016, the weakest pace since late 2014 as construction and manufacturing activity contracted while mining slowed.

The government recently revised down its economic growth forecast for this year to 3 percent from a previous 3.8 percent. The ministry statement said Peruís gold production fell 11.91 percent in February, to 11,676,057 grams, while silver fell 11.29 percent, to 325,925 kilograms. óReuters

Lahore Paper Market RatesPakistan Mercantile Exchange - PMEX

+ -
Top e-Business Recorder