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Peru mining exports fall almost 20% year/year in January amid protests

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Summary

In January 2021, Peru's mining exports dropped 19.8% compared to the same month in 2020 due to devastating protests in the country. Copper exports, which Peru is the world's second largest producer of, saw a 25% drop in foreign sales, driven by a 20.3% drop in volumes and a 5.9% drop in the metal's price. Gold exports also decreased by 28%, due to a 30.8% drop in volumes and despite a 4% price hike. Mining minister Oscar Vera said mines have begun to transport copper concentrate to ports again after protests hindered shipments.

Q&As

How much did Peru's mining exports drop by in January compared to the same month last year?
Peru's mining exports dropped 19.8% in January compared to the same month last year.

What caused the drop in Peru's copper exports in January?
The drop in Peru's copper exports in January was caused by a 20.3% drop in volumes and a 5.9% drop in the metal's price.

What was the total value of Peru's mineral exports in January?
The total value of Peru's mineral exports in January was $2.473 billion.

What caused the drop in Peru's gold exports in January?
The drop in Peru's gold exports in January was caused by a 30.8% drop in volumes and a 4% price hike.

How did protests in Peru affect the mining industry in January?
Protests in Peru hampered shipments and interrupted the southern mining corridor in the country, affecting the mining industry in January.

AI Comments

👍 It's encouraging to see that Peru's mining sector has resumed the transport of copper concentrate to ports for exporting after the protests. This shows that both the government and the mining industry are taking steps to ensure the country's economic stability.

👎 The annual drop of 28% in gold exports and 19.8% in total mineral exports in January demonstrates the devastating impact of protests on the country's economy, and the negative effects will likely continue in the coming months.

AI Discussion

Me: It's about how Peru's mining exports fell almost 20% in January due to protests. Copper exports dropped 25% and gold exports dropped 28%.

Friend: That's really concerning. It looks like the protests have had a major effect on the economy.

Me: Absolutely. It could have serious implications for Peru's economic growth and development in the long run. It could also have wider implications for the global economy, as Peru is a major producer of copper and gold.

Action items

Research the current political situation in Peru and the impact it has had on the mining industry.
Analyze the economic implications of the drop in mining exports in Peru.
Develop strategies to mitigate the effects of the protests on the mining industry in Peru.

Technical terms

Peruvian mining exports: The total amount of minerals exported from Peru in a given month.
SNMPE: The National Mining, Oil and Energy Society, a business chamber in Peru.
Copper: A metallic element used in a variety of industries.
Foreign sales: The sale of goods or services to customers in another country.
Volume: The amount of a product or service sold in a given period of time.
Price: The amount of money charged for a product or service.
Interruption: A break or pause in an activity.
Social conflicts: Disputes between individuals or groups in a society.
Extracted copper: Copper that has been mined from the ground.
Gold: A precious metal used in jewelry and other products.
Thomson Reuters Trust Principles: A set of standards for ethical and responsible journalism.