Peru’s mining production fell by 13.5pc in 2020 on an annual basis according to the National Institute of Statistics and Informatics (Inei) data.
Copper output fell by 12.7 in 2020 compared to 2019, due to lower production from Cerro Verde, Las Bambas, Antamina, Hudbay Perú, Sociedad Minera El Brocal, Nexa Resources Perú, Antapaccay, and Gold Fields La Cima, Inei said in a statement on Feb 15, without disclosing volumes. The institute cited lower demand for copper, lead, iron ore, and zinc due to the COVID-19 pandemic for the reduced volumes.
Lead production declined by 21.8pc in 2020 against the previous year due to lower production from Buenaventura, Minera Raura, Nexa Resources El Porvenir, Nexa Resources Atacocha, Minera Argentum, Volcan, and Pan American Silver Huarón.
Iron ore output declined by 12.1pc last year compared to 2019 on reduced output from Shoungang Hierro Perú y Minera Shouxin Perú, while zinc output dropped by 5.3pc in the same period due to reduced volumes from Volcan, Minera Raura, Nexa Resources Perú, Minera Chungar, Nexa Resources, El Porvenir, Buenaventura, Minera Argentum, San Ignacio de Morococha, and Santa Luisa mines.
Exports
Peru’s mining exports also fell by 8.5pc to $26.5bn in 2020 from the previous year. Copper exports fell 8.2pc, while zinc shipments declined by 18.4pc Inei stated. Lead exports in 2020 reduced by 6.4pc compared to 2019, while exports of iron ore during the same period increased by 15pc.
The mining industry is one of the most important economic activities in Peru, representing about 9pc of the country’s GDP and 60pc of its exports. Copper and gold are the most important metals exported by value.