Peru's mining sector soars 82% in May
(Kitco News) - The National Institute of Statistics and Informatics of Peru (INEI) announced today that the domestic mining and hydrocarbons sector increased 66.89% in May 2021 compared to the same month of 2020.
INEI said that this increase was driven by a significant improvement in the metallic mining subsector (82.48%) due to the higher production of zinc (385.9%), silver (168.3%), lead (159.6%), gold (91.7%), tin (86.4%), copper (54.3%), and molybdenum (5.9%); while the contribution of iron production was absent in the comparison base.
INEI added that the hydrocarbons subsector increased by 6.66% due to the higher level of extraction of crude oil (30.4%) and natural gas liquids (1.8%); while natural gas extraction decreased (-7.3%).
However, INEI noted that it is important to remember that in May 2020, the domestic mining and hydrocarbons sector’s production decreased by 45.79% primarily due to the COVID-19 pandemic restrictions.