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Peru's mining sector expands in May as copper production up 36%

Kitco Media
By Vladimir Basov
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(Kitco News) - The National Institute of Statistics and Informatics of Peru (INEI) announced last week that the domestic mining and hydrocarbons sector expanded by 16.74% in May 2023 compared to May 2022.

In a press release, INEI said that this improvement was a result of the positive performance in the domestic metallic mining subsector, which increased by 21.02% in May y-o-y due to higher production of copper (36.1%), molybdenum (17.1%), zinc (8.2%), lead (5.3%) and tin (6.5%).

This was partially offset by lower production of gold (-7.4%), silver (-4.7%) and iron ore (-3.7%).

INEI added that Peru’s hydrocarbons subsector contracted by 4.47% in May due to lower extraction of natural gas liquids (-3.9%), natural gas (-1.8%) and crude oil (-8.3%).

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Vladimir Basov

Vladimir (PhD, MEng in Mining) is a professional mining engineer, scientist and analyst that has more than 20 years of practical in-field and research experience. He is particularly interested in collecting, processing baseline data and writing insightful data-driven mining industry analytics, articles, statistical and research reports.

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