Peru’s Copper Production Drops 1.2% in September Amid Lower Output from Key Mines

Peru's copper production fell by 1.2% in September compared to the same month last year, reaching 232,423 metric tons, according to data released by the Ministry of Energy and Mines on Tuesday. Peru, one of the world’s largest copper producers, produced 2.76 million metric tons of copper last year.

The monthly decline in copper production was primarily driven by reduced output from the country’s two largest copper mines—Cerro Verde, controlled by Freeport-McMoRan, and Antamina, jointly controlled by Glencore and BHP. Production at Cerro Verde fell by 11%, while Antamina saw a 6.7% drop compared to the previous year, as reported by the Ministry of Energy and Mines.

From January to September, Peru's accumulated copper output reached 1,993,627 metric tons, representing a 0.6% decrease compared to the same period last year. Additionally, the Peruvian government recently lowered its copper production expectations for 2024 from 3 million tons to 2.8 million tons.