Peru's gold production fell to a five-year low in June as output declined at Newmont Mining Corp. (NEM:US)'s Yanacocha mine.
The country's production plunged 37 percent to 11,546 kilograms (25,450 pounds), the lowest output for the month since 2002, on a 69 percent drop at Yanacocha, the world's largest gold mine, the Energy and Mines Ministry said in a statement on its Web site.
Copper production rose for a fifth month, gaining 14 percent to 94,738 metric tons as Freeport-McMoRan Copper & Gold Inc. (FCX:US) tripled output at its Peruvian unit. Phoenix-based Freeport, the world's second-biggest copper producer, brought on line an $850 million expansion earlier this year at Cerro Verde, Peru's third-largest copper mine.
Zinc rose by 38 percent to a record 138,680 metric tons, lead gained 6.5 percent and iron production increased 29 percent. Silver output fell 5 percent, tin dropped 5.7 percent and molybdenum fell 4 percent.
Peru is the world's third-largest producer of copper, zinc and tin, No. 1 in silver and fifth in gold. The Andean nation's first-half mining exports rose 18 percent to $7.5 billion on surging copper, gold and zinc prices, according to the ministry.
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