Precious metal exports slightly recover in Peru
Total export numbers are still far below those at the beginning of the year.
Peru's gold exports rose 86% in June, compared to the previous month, copper exports by 31% and zinc exports by 136%, according to new data released by the Ministry of Energy and Mining. Gold, copper and zinc account for 50% of the country's metal exports and, according to Minem, mining is still responsible for over 60% of Peru’s international trade, despite the slowdown caused by the Covid-19 pandemic. In its latest report, the government agency notes that June's positive results reflect the gradual and safe reactivation of mining operations - a process that began in May - and the recovery in global markets. In an earlier communiqué, the Mines Ministry reported that copper production reached 180,792 tons in June, 40.8% up on the previous month, while gold production rebounded 49.7% from May to 5,877,891 fine grams. In contrast, zinc production rose by 313.6% to 119,174 tons. The ministry also noted the recovery in the mining sector when looking at electricity consumption at the mining sites. "In May \[electricity consumption\] showed a decrease of 30.6% compared to the same month of 2019. However, in June 2020 the number fell to 12.9%," the report said. Peru is the world's no. 2 copper producers in the world.