Peru’s MEM published the January 2011 production numbers today, so let’s take a step back, start at 2009 and see how the big five metals (in order of dollar importance, copper, gold, zinc, silver, lead) shape up:
Anyone for laurel resting? Peru’s export values go shooting up but the production tonnage remains stagnant
Even worse for gold, and the slide is on. Remember that 16% of the gold in the table comes from the Madre De Dios shithole officialproduction (lawd knows about the black market stuff).
Again, no investment = no growth
The inertia means that in 2010 Peru lost its mantle of world’s number one silver producing nation, a title which is now back in the hands of Mexico.
Hey, here’s a metal to invest in…looks like nobody wants to make it anymore.
Look up tin. moly, iron ore and tungsten yourself (though if you’re long MLG.to you won’t be impressed by January’s 59t production number). DYODD.