Sunday, April 25, 2010

Peru's metals production in the first quarter of 2010 sucked

Here are the charts for Peru's five major metals exports:
Yup, 2010 royally sucks so far, dudes. Just the YoY drop in copper alone is U$97m in lost revenues (assuming an average of U$7,000/MT for the stuff).

The thing about economic growth is that it doesn't come along automatically. Despite what Peru's mining industry obviously believes, you tend to need to produce more over a certain time period if you want to grow.