World’s No. 2 Copper Producer Hits the Hard Part of Its Recovery
- Peru mines are prioritizing margins over volume, Gobitz says
- The industry hasn’t had any disruptions from political turmoil
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Peru, the biggest copper-producing nation after Chile, bounced back from hard lockdowns to post double-digit output growth mid year. The next stage of its recovery is proving slower.
Mines have invested in social distancing measures to keep workers safe and are now focusing on defending margins rather than just lifting production, said Victor Gobitz, president of Peru’s Institute of Mining Engineers.