Commodity News
HeadLine : Peru Copper output nosedive in first half of 2020, ravaged by coronavirus
Date : Aug 5 2020
Peru, a top global metals exporter, saw its output of copper, gold and zinc nosedive in the first half of 2020, ravaged by restrictions put in place to curb the coronavirus outbreak, the government said on Tuesday. The world’s No. 2 copper producer said production of the red metal plunged 20.4% in the first half of 2020 versus the same period in 2019. The Peruvian government decreed a quarantine in mid-March with special restrictions on mining activity. The industry, a key economic engine for the Andean nation, began to gradually normalize operations in May. The mines ministry reported copper production of 180,792 tonnes in June, 40.8% higher than the previous month as mines resumed production. Mine products represent 60% of Peru’s exports.

Source: Reuters
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