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Peru's mining and hydrocarbons sector expands in December as copper production up 19.2%

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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 expanded by 9.34% in December 2022 compared to December 2021.

In its press release, INEI said that this increase was a result of the positive performance in the domestic metallic mining subsector (11.05%), while hydrocarbons subsector fell by 1.03%.

According to the report, Peru’s metallic mining subsector expanded by 11.05% due to the higher production of iron ore (99.4%), copper (19.2%), lead (3.2%) and tin (2.3%); this was partially offset by lower production of molybdenum (-12.1%), silver (-6.4%), gold (-4.0%) and zinc (-2.7%).

INEI added that the country’s hydrocarbons subsector declined by 1.03% due to the lower extraction of natural gas liquids (-4.9%), which was partially offset by the increased extraction of crude oil (4.0%) and natural gas (0.9%).

The agency also reported that in FY 2022, Peru’s mining and hydrocarbons sector expanded by 0.35% compared to FY 2021.

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