{"id":53830,"date":"2020-06-23T15:24:57","date_gmt":"2020-06-23T20:24:57","guid":{"rendered":"https:\/\/olduvai.ca\/?p=53830"},"modified":"2020-06-23T15:25:01","modified_gmt":"2020-06-23T20:25:01","slug":"breaking-news-peru-silver-mine-supply-collapsed-in-april","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=53830","title":{"rendered":"BREAKING NEWS: Peru Silver Mine Supply Collapsed In April"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\"><a href=\"https:\/\/srsroccoreport.com\/breaking-news-peru-silver-mine-supply-collapsed-in-april\/\">BREAKING NEWS: Peru Silver Mine Supply Collapsed In April<\/a><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">With the data now finally out, Peru\u2019s silver mine production collapsed in April.&nbsp; Due to the shutdown of a large portion of Peru\u2019s mining industry, as a result of the global contagion, the impact on the world\u2019s second-largest silver supply was enormous.&nbsp; While I had mentioned in previous articles that I expected to see silver production from Mexico and Peru to decline significantly, I\u2019m amazed actually to see the real numbers.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Over the past several months, I have checked the Peru Ministry of Mines website for updates on the domestic mine supply figures.&nbsp; However, they have not updated their monthly production data since December 2019.&nbsp; I tried writing the Peru Ministry of Mines website to find out why they haven\u2019t been updating their figures, but I received no reply.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">I decided to do a bit more digging and found a newly released April 2020 Mining Update in response to the global contagion.&nbsp; This new Mining Bulletin published Peru\u2019s mine production data for January to April 2020.&nbsp;&nbsp;<strong>According to the recently released data, Peru\u2019s silver mine supply in April fell to 85 metric tons (mt) versus 322 mt during the same month in 2019<\/strong>:<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/d39ua1j16brbz0.cloudfront.net\/wp-content\/uploads\/2020\/06\/Peru-Silver-Mine-Supply-April-2019-vs-April-2020.png\" alt=\"\" class=\"wp-image-22293\"\/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Peru\u2019s silver mine supply collapsed by 74% in just a few months.<\/strong>&nbsp; If we convert to troy ounces, the year-over-year change was a decline from 10.3 million oz (Moz) to 2.7 Moz.&nbsp; Thus, the world\u2019s second-largest silver mine supply fell 7.6 Moz in April.&nbsp; Now, if we look at Peru\u2019s monthly mine supply over the past year, we can see that silver production started to decline in March:<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/d39ua1j16brbz0.cloudfront.net\/wp-content\/uploads\/2020\/06\/Total-Peru-Silver-Monthly-Mine-Production-April-2010-April-2020.png\" alt=\"\" class=\"wp-image-22294\"\/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">As the Peruvian government started implementing mine closures in the middle of March, silver production fell by nearly 100 metric tons compared to February.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">So, if we compare the change in the first four months of 2020 versus the same period last year, here is the result:<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u2026click on the above link to read the rest of the article\u2026<\/p>\n","protected":false},"excerpt":{"rendered":"<p>BREAKING NEWS: Peru Silver Mine Supply Collapsed In April With the data now finally out, Peru\u2019s silver mine production collapsed in April.&nbsp; Due to the shutdown of a large portion of Peru\u2019s mining industry, as a result of the global contagion, the impact on the world\u2019s second-largest silver supply was enormous.&nbsp; While I had mentioned [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[1593,730,19645,12073],"class_list":["post-53830","post","type-post","status-publish","format-standard","hentry","category-economics","tag-peru","tag-silver","tag-silver-mining","tag-srsrocco-report"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/53830","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=53830"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/53830\/revisions"}],"predecessor-version":[{"id":53831,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/53830\/revisions\/53831"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=53830"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=53830"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=53830"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}