MINING SECTOR

The mining and hydrocarbons sector decreased 4.4% year-on-year in December, explained by lower production of hydrocarbons (-4.5%) and metal mining (-4.1%). Thus, the sector decreased by 4.3% in 2021.

The mining and hydrocarbons sector decreased by 4.4% in December, explained by lower production of hydrocarbons (-4.5%) and metal mining (-4.1 percent). In hydrocarbons, there was a lower production of natural gas liquids (-7.1%), and in metal mining, there was a lower extraction of gold (-16.6%), molybdenum (-12.8%), and copper (-3.8%).

• In 2021, the mining and hydrocarbons sector contracted by 4.3% compared to 2020. The result was explained by the lower production of natural gas (-6.2%), copper (-5.2%), and natural gas liquids (-4.3%). In particular, the production of hydrocarbons was affected by maintenance activities in March and April and, due to technical problems in May and July - September.

• In December, the average price of copper was in cvt. US$/lb 433.3, which meant a decrease of 2.2% compared to the previous month. The reduction reflected the slower pace of manufacturing activity in China.

Source: MINEM- Ministry of Energy and Mines

The international price of Copper // In ctv. US$, average data for the period

Mining activity in Peru has grown steadily since March 2020, with a 21.6% increase in mining investment from January to November 2021 compared to the same period in 2020. The top five mining companies, that led investments were Anglo-American Quellaveco, Antamina, Southern Peru, Chinalco, and Las Bambas.

The departments that benefited the most from the investments were Moquegua, Áncash, and Ica. Mineral production has also increased during the same period, with the production of iron, tin, silver, zinc, lead, gold, copper, and molybdenum. In addition, the mining sector employed 246,641 people in November 2021, which represents an increase of 23.3% compared to the same period of the previous year.

Source: BCRP , OSINERGMIN