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Peru's mining sector contracted 2% in February

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(Kitco News) - The National Institute of Statistics and Informatics of Peru (INEI) announced today that the domestic mining and hydrocarbons sector declined by 5.34% in February 2021.

INEI said that this decline was associated with the lower activity in the metallic mining subsector, which fell by -2.18% due to the lower production volumes of gold (-25.5%), silver (-14.4 %), lead (-10.0%), iron (-9.3%) and molybdenum (-0.7%); however, the production of zinc (15.2%), tin (8.8%) and copper (1.0%) increased.

A similar trend was reported for the hydrocarbons subsector which fell by -20.83% due to the reduced level of extraction of crude oil (-44.7%), natural gas (-9.4%) and natural gas liquids (-8, 7%).

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