Peru's Copper Production Faces Decline

Peru's copper production decreased by 1.2% in September compared to the previous year, reaching 232,423 metric tons. This decline is attributed to reduced output from major miners Cerro Verde and Antamina. As one of the top global suppliers, Peru's dip in production could have implications for the global copper market.

Peru has experienced a decline in its copper production, with figures showing a 1.2% drop in September compared to the same month last year, according to information released by the Ministry of Energy and Mines on Tuesday.

This decline in output resulted in a total production of 232,423 metric tons. The South American nation is recognized as one of the world's leading producers of this indispensable industrial metal.

The production dip was mainly influenced by a reduction in output from Peru's two largest copper mining operations, Cerro Verde, controlled by Freeport-McMoRan, and Antamina, which is operated by a joint venture between Glencore and BHP.

(With inputs from agencies.)