Peru saw its iron ore output increase year-on-year in the first half of 2018. The positive improvement nevertheless was partially offset by lower production in June, according to data issued by the country's mines and energy ministry (MEM) and monitored by Kallanish.
“The growth of iron production in the first half of the year was supported by the good results from January to May, which helped to contain a fall by -23.6% in June alone. This decrease was due to a fall in the performance of the CPS1 mining unit of Shougang Hierro Perú (-29.6%),“ MEM confirms.
During the January-May period, Peruvian iron ore production amounted to 5,030,466 tonnes. This was up by 9.8% compared to 4,582,549t in the same period of 2017. In June alone, output reached 615,830t, or -23.6% less y-o-y and -24.6% down on that in May. These figures include output from SHP and its joint venture with China’s Baiyin Nonferrous Metals Group, Minera Shouxin Perú (MSP).
SHP is a subsidiary of major Chinese steelmaker Shougang Group. The Peruvian company extracts, processes and sells iron ore from its deposits located in the Marcona district of Nasca province, in Peru’s Ica region. MSP processes Shougang's mining tailings.