Peru continues to be the largest gold producer in Latin America and sixth in the world
Peru remained the leading gold producer in Latin America and sixth in the world in 2018, despite lower production compared to the previous year, the government reported.
The Andean country retained the sixth place in the world with a production of 145 tons in 2018, less than the 151 tons of 2017, said the Peruvian Ministry of Energy and Mines, citing the annual report of the United States Geological Survey (USGS), which uses as an international reference.
China is the first gold producer with 400 tons, followed by Australia (310), Russia (295), the United States (210) and Canada (185).
Peru contributes 4.4% of gold to world gold production.
In Latin America, Peru leads the list ahead of Mexico (8th worldwide, with 125 tons) and Brazil (10th, with 81 tons).
The largest gold mine in Latin America is in Cajamarca, northern Peru, where the giant Newmont exploits the Yanacocha field, a huge open pit mine.
In terms of silver and copper, Peru remains the second world producer of both metals behind Mexico and Chile, respectively.
"In 2018 Peru remained the second world producer of copper, silver, zinc (...) and sixth in the production of gold."
Copper production in Peru in 2018 was 2.44 million tons, 11.8% of the world total. The first producer of the red metal was Chile, with almost 5.8 million tons. Peruvian silver production reached 4,163 tons and ranks second in the world behind Mexico (6,100 tons). Peru contributes 15.5% in global silver production. Zinc production added 1.47 million tons, equivalent to 11.6% of the world total.
Mining is one of the engines of the Peruvian economy, contributing around 10% of GDP. China is the largest mining investor in Peru, controlling about one-third of the production. Mining investment shot up to 1,193 million dollars in the first quarter of 2019, an increase of 37.1% compared to the same period of 2018.