LIMA, Feb 14 (Reuters) - Peru's mining ministry on Friday said copper output in 2024 amounted to 2,736,150 metric tons, down 0.7% from 2023. The drop marked the copper giant's first decline after four straight years of recovery following the pandemic.
Industry sources had predicted Peru's copper output would remain stable at around 2.8 million tonnes in both 2024 and 2025, due to declining ore grades and a lack of new projects.
The Democratic Republic of the Congo overtook Peru as the world's second largest copper producer in 2023.
(Reporting by Marco Aquino, Writing by Daina Beth Solomon,)
((daina.solomon@thomsonreuters.com;))
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