Peru: Gold production in Peru to increase by 10% this year

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Peru: Gold production in Peru to increase by 10% this yearPeru’s gold production would register an increase of 5-10% by the end of 2010, totaling 200.2 tons, Peru’s Mining, Petroleum and Energy Society (SNMPE) estimated today.

The SNMPE Gold Committee President Jose Miguel Morales detailed that in 2008 Peru’s the gold production totaled 179.8 tons, while last year it went up to 182 tons.

“This level of production has enabled the country to consolidate as the sixth producer in the world concentrating 7.7% of the international production of the precious metal,” he said.

Morales said this year’s production will increase only by 10 percent as until now there any huge project that can improve this number.

“We have medium and long-term big projects, and that is why we can maintain the current production level”, he said.

He recalled that in 1993, Peru produced less than 600,000 ounces of gold, and currently it produces up to 6 million ounces.

Mining explorations was the driven force behind this number, as well as the economic and democratic stability generated by the government.

Morales made this statements when announcing the Ninth International Gold Symposium in Lima May 18 to 20, organized by the SNMPE Gold Committee.

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