Andina

Peru: Mining sector to remain 'dynamic' during next months

Explotación minera. Foto: ANDINA/ archivo.

Explotación minera. Foto: ANDINA/ archivo.

13:49 | Lima, Sep. 16.

Peruvian mining production will maintain a close-to-10% growth rate in the remainder of the year boosted by mega-projects' yields, such as those of Toromocho, Antamina, Cerro Verde and Constancia, Peru's National Society of Mining, Petroleum and Energy (SNMPE) Director Jose Miguel Morales projected.

"Mining GDP acceleration will continue in the remainder of the year, not at the level registered in July [16.6%], but on an important upward trend in average term; it is rather due to volume than prices," he told Andina news agency.

According to the recent National Institute of Statistics and Informatics (INEI) report, mining sector grew by 16.6% in July; the second highest rate so far this year.

This performance was supported by greater copper (32.8%), molybdenum (9.1%), lead (8.3%), zinc (5.7%), silver (5.7%) and gold (0.7%) extractions. 

The said expansion contributed to Peruvian economic growth (3.26%) in the month of July.

(END) RGP/JJN/AVV/MVB


Published: 9/16/2015