Peru: Mining exports exceed US$9 billion between January and March 2022

RIO DE JANEIRO, BRAZIL – The Ministry of Energy and Mines (Minem) of Peru indicated that, during the first quarter of 2022, metallic and non-metallic mining exports reached the figure of US$9.579 billion, reflecting an increase of 9.7% compared to the same period of 2021.

According to figures from the General Directorate for Mining Promotion and Sustainability (DGPSM) of Minem, the results as of March 2022 show the mining subsector with 57% of total Peruvian exports, of which 55.8% correspond to metallic mining products and 1.2% non-metallic mining products.

Read also: Check out our coverage on Peru

Figures from the Central Reserve Bank (BCR) also indicate that, in March 2022, mining products totaled US$3.181 billion dollars, which meant a growth of 2.2% compared to the same month last year. Likewise, the value of exports of gold (16.3%), silver (3.3%), tin (36.6%) and molybdenum (14.6%) registered increases compared to March 2021.

Meanwhile, according to official figures, the interannual variation of the volume shipped, reported an increase in gold and iron of 2.6% and 37.6%, respectively.

Copper registered a decrease of 4.6% in the year-on-year volume shipped due to the lower production of Southern Peru Copper Corporation, as a result of the stoppage of its Cuajone mining unit in Moquegua, however, it would already be operating normally and its eventual rebound would be reflected in numbers in the April report.

Finally, the Minem reported that mining activity in Peru has directly employed a total of 240,813 workers, reflecting a growth of 1.2% in March compared to what was registered the previous month (238,012 people employed).