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Articles tagged with: Peru

Pitinga outlook positive after record year

Post By: Tom Mulqueen on Monday, 06 March 2017

Minsur's consolidated results, released last week, report that tin output from the Pitinga mine in Brazil rose by 20% year-on-year to 6,875 tonnes, a record high since the mine's acquisition by Minsur in 2008, while refined tin produced at the Pirapora smelter in Brazil rose 6% to 5,873 tonnes. Refined tin production by Minsur's operations in Peru and Brazil totalled 25,445 last year, down 1% from 2015, but in line with official guidance.

The company's Brazilian operations, which are...

Minsur’s Peruvian production down in 2016

Post By: Tom Mulqueen on Wednesday, 15 February 2017

Individual Q4 results for Minsur's Peruvian operations, released today, reveal refined tin production totalled 19,573 tonnes in 2016, down 3.2% from 2015. Despite a 20% year-on-year fall in refined production to 5,023 tonnes in Q4, 2016 production guidance of 19kt to 19.5kt was exceeded.

In addition to the contraction in refined tin output from the Pisco smelter during Q4, tin-in-concentrate production from the San Rafael Mine fell 6% year-on-year to 4,828 tonnes in Q4, while head grades fell to...

Minsur reports Q3 rise in Peruvian production

Post By: Tom Mulqueen on Monday, 07 November 2016

Minsur's individual Q3 results, released at the end of October, reveal a 25% improvement in refined tin production from its Pisco smelter to 5,182 tonnes, and a 5% increase in tin-in-concentrate production from the San Rafael Mine to 5,114 tonnes, compared to Q3 2015.

The increased performance was explained both by lower production in September 2015, due to scheduled maintenance carried out at the Pisco smelter, and also the commissioning of the company's new Ore Sorting plant during Q3...

Expected production and price increases support Minsur credit rating

Post By: Tom Mulqueen on Tuesday, 19 January 2016

Minsur's tin production from its operations in Peru and Brazil is forecast to increase from some 26,000 tonnes in 2015 to close to 30,000 tonnes in 2017 in a new analysis by Fitch Ratings.

Fitch affirmed a BBB- rating on Minsur bonds, with a stable outlook. In a release Fitch noted the low costs of tin production in Peru, the group's "historical track record of very low leverage" and management's "aggressive plan to reduce costs and capex, responding...

Minsur production falling

Post By: Peter Kettle on Thursday, 10 May 2012

Official March mine production data released by Peru's mining ministry showed increases in output of most base and precious metals, with the exception of tin. March tin production was reported at 2,294 tonnes, down by 6.6% compared to the same month of 2011. First quarter tin-in-concentrate production amounted to 6,607 tonnes, 2.7% lower than in the same period of last year.

Production in the 2011 comparison period was already depressed as a result of a significant reduction in ore...

Minsur production and profits fall in 2011

Post By: Peter Kettle on Monday, 20 February 2012

Peru's only tin producer Minsur SA reported a 27% fall in net profits and a 16% drop in refined tin production last year, with a particularly sharp drop in profits in Q4. Net profit plunged 90% year-on-year in October-December to 24.8 million soles (US$9.24 million) from 259 million soles, BNAmericas reported, quoting local bank BCP.

The main reasons for the change were lower sales revenues and extraordinary items relating to investments and exchange rate fluctuations. The average tin...

Peru November production falls

Post By: Peter Kettle on Thursday, 05 January 2012

Peru's mining ministry released official mine production figures this week showing that the country's output of most metals except copper declined in November. November tin-in-concentrate production was 2,393 tonnes, 2.3% lower than in November 2010. All of Peru's tin production comes from Minsur's San Rafael operation, the world's largest tin mine.

Cumulative production in the first 11 months of 2011 amounted to 26,764 tonnes, down 14.9% on the same period of 2010, due mainly to an official limitation on...

Peru tin production lower

Post By: Peter Kettle on Wednesday, 05 October 2011

Latest mine production figures released by Peru's Mines and Energy Ministry showed higher copper and gold production in August, but lower output of tin, lead, zinc and silver.

August production of tin-in-concentrate from Minsur's San Rafael mine in Puno province fell 8% year-on-year to 2,680 tonnes. Year to date production in the first eight months of the year fell 20% to 19,346 tonnes as a result of reduced throughput up to May while tailings storage arrangements were examined. Annual...