"Silver Production in Peru Declines: MINEM Report Reveals Decreased Output in 2022"
Data from the Ministry of Energy and Mines of Peru (MINEM) highlights a decline in silver production in the country, which is one of the largest silver-producing countries in the world. In December 2022, a total of 276,693 kg of silver was produced, which represents a decline of 6.4% compared to the previous year. This decline can be attributed to the lower production reported by two of the major silver producers in Peru, Compañía Minera Antamina S.A. and Compañía Minera Ares S.A.C.
Compañía Minera Antamina S.A. was the largest silver producer in Peru, accounting for 16.4% of the country's total silver production. Compañía Minera Ares S.A.C. and Volcan Compañía Minera S.A.A. were the other two major silver producers, accounting for 7.8% and 6.7% of the total production, respectively.
The region of Áncash remained the leading silver-producing region in Peru, accounting for 20.8% of the country's total silver production. Pasco and Junín were the second and third largest producing regions, accounting for 20.2% and 14.4% of the total production, respectively.
Finally, MINEM reported that the overall silver production in Peru declined by 7.6% in 2022, with a total of 3,079,790 kg of silver produced compared to the previous year. This decline in production highlights the challenges faced by the silver mining industry in Peru and the need for the industry to find ways to overcome these challenges and increase production in the future.