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

Peru’s iron ore production increased by 113.46pc in January-June compared to the same period in 2020 and by 185.36pc in June against the same month last year, according to the country’s National Institute of Statistics (INEI). 


The agency attributed the higher output to raised mining activity in June after the gradual easing of government-induced lockdowns related to the COVID-19 pandemic. 


Tin production saw a yearly increase of 73.42pc in January-June, while zinc was up 53.27pc, lead 25.20pc, and copper 14.44pc in the same timeframe 


INEI explicitly highlighted the high iron volumes obtained by Shougang Hierro Perú and Minera Shouxin partly reflecting a lower base of comparison given the ongoing talks between the government and the miners at Shougang, which is the largest iron ore producer in Peru.


On Aug 13, the Minister of Energy and Mines, Iván Merino Aguirre, held a meeting with the representatives of the workers’ unions of Shougang along with Jorge Marticorena, congressman for the Ica province, district mayor of Marcona Elmo Pacheco, and other authorities to ratify President Pedro Castillo´s new criterion of Social Profitability for mining projects and investments. 


Merino explained that through this initiative the government planned to work with private companies to help the communities surrounding these mines through improved infrastructure, respect for indigenous communities, and better environmental protection. Shougang has said that it has accepted this criterion and will work in coordination with all concerned parties to implement it. 

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