Thursday, June 9, 2011

Peru copper production falls off a cliff in April 2011

The April 2011 production numbers for Peru metals are out today and the main driver of the economy, copper production, is not good at all. Here's the chart...

...and as you can see, production at 88,481 tonnes for April is the worst monthly performance since January 2008 (after which the Cerro Verde expansion kicked in). This on the back of a pathetic Feb 11, too.  The other main revenues earner, Gold, was crappy at 12.623m grams (405,884 oz), too. Here's that chart.

And moly was crap, and silver was crap, and zinc was crap. All figures here, including the über-woeful 47mt of tungsten out of much for those bullshitters and their new production upgrades. Another mediocre operation hiding behind high spot prices....just like the government of Peru, in fact. DYODD, dudettes and dudes.