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Peru's metals mining industry contracts 10.7% in May – report

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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 fell by 6.62% in May 2022 over May 2021.

INEI said that this negative performance was due to the decline in Peru’s metals mining subsector (-10.69%), associated with lower production of zinc (-17.9%), lead (-15.9%), copper (-12.6%), silver (-11.1%), iron (-3.7%) and gold (-2.0 %).

According to the report, this was partially offset by higher domestic production of tin (6.0%) and molybdenum (3.5%).

INEI added that Peru’s hydrocarbons subsector increased by 20.33%, primarily due to the higher extraction of natural gas (79.9%), crude oil (10.4%) and natural gas liquids (3.4%).

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