Zinc production in the country dates back to the pre-Colonial era and today it represents about half the value of the country’s total revenues.
Peru is currently ranking third in world zinc reserves and second in global zinc production, according to information from Investing News. This is a new recognition to the country, apart from being known as a major producer of copper, gold, and silver.
“Today, copper, gold and zinc represent about half of the value of the country’s total export revenues.”, Investing News reported.
In 2017 Peru produced 1,47 million tons of zinc, which represented 10.2% more than what was produced the previous year.
Also, Investing News says that zinc prices have been constantly increasing and it has benefited greatly Peru’s mining sector, contributing to the fact that copper, gold, and zinc represent today about half the value of the country’s total export revenues.
Analysts expect the trend to continue over the next few years. “While zinc prices averaged US$1.31/lb for 2017 as a whole, we expect them to average above US$1.46/lb in 2018 and perhaps US$1.41/lb in 2019,” said S&P Global Market Intelligence’s metals and mining team, according to Investing News.
Zinc production in this country dates back to the pre-Colonial era. It was then in 1922 that the first modern zinc refinery in Peru (La Oroya) began operations, and by the end of the 20th century it had become one of the world’s leading zinc producers.
(Cover Photo Wikimedia Commons)
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