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Wednesday, 21st April 2004 (4993 views)

Peru has become the world's sixth largest gold producer, according to figures from the industry's top precious metals consultancy.<BR/><BR/>In its 2004 outlook published last week, the London-based Gold Field Mineral Services said Peru now ranked sixth in the world for gold production, behind South Africa, the United Sates, Australia, China and Russia. The country rose one place in the world rankings last year, leapfrogging Indonesia.<BR/><BR/>Peru's private mining society congratulated the country's gold miners for boosting production during a successful 2003, Reuters news agency reports.<BR/><BR/>"This rise is an achievement that we have worked hard for," Carlos Galvez, head of the gold committee of the private National Society of Mining, Petroleum and Energy said in a statement. "Mining companies and especially gold miners have made efforts and contributed to boosting production, despite the fact that country risk has increased and the index of policies to promote investment, published by (influential Canadian think-tank) the Fraser Institute, has gone down."<BR/><BR/>Peru, home to Latin America's biggest gold mine, Yanacocha, produced 172 tonnes of gold in 2003, 15 tonnes more than the previous year. Mr Galvez said he expected 2004 gold production of 175 tonnes and insisted that Peru could aspire to becoming the world's number five producer once new mine Alto Chicama is fully up and running. <BR/><BR/>Peru is hosting a major international gold conference from May 4-7 in Lima.

 

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