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UPDATE 1-Peru's Antamina expects to double its zinc output next year
October 10, 2016 / 5:56 PM / in a year

UPDATE 1-Peru's Antamina expects to double its zinc output next year

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LIMA, Oct 10 (Reuters) - One of Peru’s top copper and zinc mines, Antamina, will likely double its zinc output to between 340,000 tonnes and 360,000 tonnes next year to take advantage of an expected rise in prices, the mine’s general manager said on Monday.

Abraham Chahuan added that annual copper production would probably rise to 430,000 tonnes in 2016 and 2017, slightly above the 412,000 tonnes the mine reported in 2015, according to the energy and mines ministry.

BHP Billiton and Glencore Plc each own 33.75 percent stakes in Antamina. Teck Resources Ltd controls 22.5 percent of the mine and Mitsubishi Corporation 10 percent.

Chahuan said the open-pit operation in Peru’s central Andes is expected next year to tap a layer of zinc veins that would allow it to reap the benefits of potential price increases as a global shortage looms.

“There’s a lot of talk about how there are greater expectations for the price of zinc, and that’s ... going to coincide with our much greater production of zinc next year,” Chahuan said at a press conference.

Reporting by Marco Aqui and Richard Chang

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