Peru's mining industry contracts 5.85% in November 2021 - report
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(Kitco News) - The National Institute of Statistics and Informatics of Peru (INEI) announced Sunday that the domestic mining and hydrocarbons sector contracted by 5.29% in November 2021 compared to the same month of 2020.
INEI said that the domestic mining and hydrocarbons sector decreased primarily because of the negative performance in the metals mining subsector, which declined by 5.85% due to lower production of zinc (-18.4%), iron (-15.8%), copper (-6.5%) and lead (-5.0%).
This was partially offset by an increase in the production of molybdenum (8.0%), tin (3.5%), gold (2.7%) and silver (0.8%).
INEI also reported that the domestic hydrocarbons subsector decreased by 1.88% as a result of the lower extraction of natural gas liquids (-6.7%) and natural gas (-4.2%), while crude oil production increased by 13.3%.
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