The government reported that the production of key metals such as copper, silver, lead, tin and molybdenum reported significant increases compared to the results of the same month in 2023.
The production of key metals such as copper, silver, lead, tin and molybdenum registered significant increases in August of this year compared to the results of the same month in 2023, reflecting the strength and dynamism of the sector, reported the Ministry of Energy and Mines (Minem).
Likewise, the inter-monthly record shows increases in the production of copper (10.9%), gold (5.1%), zinc (6.3%), silver (18.8%), lead (2.2%), iron (2.4%) and tin (0.4%) in relation to what was reported in the previous month, according to the Mining Statistical Bulletin (BEM) prepared by the General Directorate of Mining Promotion and Sustainability.
Regarding the cumulative analysis, from January to August, significant increases are observed in the production of most of the main products such as gold (10.5%), silver (13.6%), lead (9.6%), iron (1.5%), tin (44.7%) and molybdenum (30.3%), compared to the record for the same period in 2023. However, there are falls in copper (0.7%) and zinc (11.4%).
Highest monthly copper production
In August, domestic copper production reached 246,568 fine metric tons (FMT), the highest monthly figure so far this year, reflecting not only a 10.9% month-on-month growth compared to July 2024, but also a 10.7% year-on-year increase compared to what was reported in August 2023.
Meanwhile, silver production in August totaled a significant month-on-month increase of 18.8% and was up 30% compared to what was reported in August 2023.
While lead production in August showed a month-on-month growth of 2.2%, there was also an increase of 10.1% compared to the production obtained in August 2023. Cumulative production reached an increase of 9.6% compared to production from January to August 2023.
Tin production in August increased by 0.4% compared to July of this year (2,820 FMT). Cumulative production increased by 44.7% compared to the same period of the previous year.
Domestic molybdenum production in August 2024 increased by 42.4% compared to August 2023 (2,545 FMT). And in the accumulated period up to the eighth month of 2024, it achieved a growth of 30.3% compared to the same accumulated period in 2023.
Regarding zinc production, it achieved a monthly growth of 6.3% in August, and gold production in the eighth month of the year registered an expansion of 5.1% compared to July 2024.
