Make Kitco Your Homepage

Peru's mining industry contracts 5.85% in November 2021 - report

Kitco News

Welcome to Kitco News' 2022 outlook series. The new year will be filled with uncertainty as the Federal Reserve looks to pivot and tighten its monetary policies. At the same time, the inflation threat continues to grow, which means real rates will remain in low to negative territory. Stay tuned to Kitco News to learn from the experts on how to navigate turbulent financial markets in 2022.

(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%.


Centerra Gold confirms negotiations with Kyrgyz govt over Kumtor mine

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.