Peru Forecast to Surpass China in Copper Output as Mine Opens
- Peru's mining sector is a `bright spot' in region, BMI says
- Analysts expect commodities to bottom in 2016, rebound in 2017
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Peru is likely to surpass China as the world’s second-largest copper producer after the South American country’s biggest new mine, Las Bambas, began shipments last month, BMI Research said.
Peru’s copper output will increase 19 percent in 2016 to 1.9 million tons, according to the country’s central bank, as Melbourne-based MMG Ltd. ramps up to full production in the second quarter at Las Bambas. The company said it expects to produce 275,000 to 330,000 tons from the mine this year.