Volcan reported operating results for the second quarter of 2016. Zinc production dropped 8.5% to 68,300t in the quarter, while lead declined 23.3% to 11,900t, silver fell 12.4% to 5.6Moz and gold dropped 11.1% to 1,600oz. Copper output jumped 33% to 1,500t. Zinc production fell after Volcan halted operations at its Cerro de Pasco open pit mine and ore grades declined at its Yauli unit, while lead and silver output dropped at its Chungar unit and silver was down at its newest mine, Alpamarca.

The company revised operating guidance for the full year of 2016. The company trimmed production guidance for this year as declining ore grades and suspension of operations at one of its mines slashed output of most metals. The company cut zinc production guidance to 275,000-285,000t from an earlier target of 299,000-305,000t, while lead guidance was reduced to 50,000-55,000t from 57,000-60,000t. Guidance for other metals remained unchanged at 22.5-23.5Moz silver, 4,000-5,000t copper and 3,500-5,000oz gold.