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Thursday, 7th May 2009 (1066 views)

Gold output in Peru rose by 8.77 per cent between March 2008 and 2009, figures from the country's mining ministry have shown.

The world's sixth largest gold producer pulled 15,639,825 fine grams of the precious metal from mines during March, while output of other major metals fell, Reuters reports.

Copper declined by 1.33 per cent, lead by 7.65 per cent, zinc by 9.73 per cent, tin by 12.01 per cent and iron by 34.07 per cent over the 12-month period.

Silver was the only other metal to see production increase, up 9.78 per cent year-on-year. At 318,494 fine kg, Peru generated more of the metal than any other country in the world.

Metals are a significant contributor to Peru's economy and account for a large part of its exports.

Indeed, gold is so important to the country that coins made from the metal appear on its official coat of arms.

 

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