Peru's copper output expanded by 48.1% in March 2016 from same month the year before, the National Institute of Statistics and Informatics (INEI) reported on Monday.
Thus, such growth contributed to significantly boosting the country's mining activity, as well as economic growth.
Arequipa (206.3%), Cusco (91.7%) and Ancash (20.8%) led the highest copper extraction at regional level. Together, they account for 64.2% of the total national production.
In this sense, Ayacucho (84.9%), Tacna (1.5%), Pasco (1.5%), La Libertad (1.2%) and Ica (0.7%) also stood out during the said period.
Production in the mining and hydrocarbons sector increased 16.2% in March, due to higher production of copper, which for thirteenth consecutive month has been the main driver of this sector’s growth.
Reserves of copper, gold, silver and other minerals, as well as favorable investment conditions, allow Peru to remain attractive to foreign mining businessmen, economist and Financial Times writer Tim Harford said last week.
Copper extraction accounts for 70.56% of mining projects in the Andean nation, followed by polymetallic minerals and iron with 10.19% and 9.08%, respectively.
(END) RGP/JJN/HMC/MVB
Published: 5/23/2016