Huge Decline In Peru’s Silver Production Suggests Future Supply At Risk

The Peru Ministry of Energy and Mining just released their silver production data for February, and it was a whopper to the downside. Actually, I was quite surprised to see how much Peru’s silver production declined versus the same month last year. Also, Peru’s gold February production took a similar big hit.
According to the Peru Ministry of Energy and Mining data, the country’s silver production fell 12% to 323.1 metric tons (mt) this February versus 367.4 mt the same month last year:
This is a 44 mt decline in one month, nearly 1.5 million oz lost. Here is the table from the Peru Ministry of Energy and Mining showing various metals production data for February:
Silver is shown as ‘PLATA’ and as we see, overall silver production for JAN-FEB has declined 6.7% compared to the same period last year. Which means, Peru’s silver production took a much larger hit in February than in January. Furthermore, Peru’s gold production (shown as ‘ORO’), also declined significantly by falling 11.3% in February.

This post was published at SRSrocco Report on APRIL 18, 2017.

 

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