Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Peruvian mining production has fallen by 60pc over the past three weeks after miners halted operations to contain the spread of COVID-19, according to data from the Institute of Mining Engineers, Peru.


On March 15, the Peruvian government announced a state of national emergency until April 12, which included halting mining operations, in its efforts to limit the spread of COVID-19. The government recently extended its national emergency until April 26.


After the emergency ends, the mining industry should be among the first to restart operations to avoid more losses in the industry and economy, Miguel Cardozo, vice president of the Institute of Mining Engineers of Peru said in a statement.


A month before the shutdown, Peruvian metallic mining output rose by 3.25pc compared to February 2019, according to the latest data released by the National Institute of Statistics and Informatics (Inei) on Wedneday. 


In February, mining production was driven by higher demand for iron ore (67pc), molybdenum (46.8pc), lead (10.9pc), tin (10.4pc), zinc (9.7pc) and silver (12.9pc), while copper production fell by 3.5pc decreased and gold fell 10.7pc, according to Inei.


The mining industry is one of the most important economic activities in Peru, representing about 9pc of GDP and 60pc of the country’s exports. Copper and gold are the most important metals exported by value.


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