Andina

Peru: Mining and hydrocarbons production up 1.83% in May 2024

10:03 | Lima, Jul. 18.

National production in mining and hydrocarbons subsectors rose 1.83% last May as a result of the good performance of metallic mining activity (+2.39%), the Ministry of Energy and Mines (Minem) has highlighted.

Minem indicated that the positive result in the metal mining sector is due to greater production of molybdenum (+22.7%), silver (+21.9%), iron (+20.7%), lead (+19.8%), tin (+7.2%), and gold (+4.5%). 

It explained that these advances were released by the National Institute of Statistics and Informatics (INEI) in the "Current Economic Activity Report," which states that this performance was partially offset by lower extraction of zinc and copper.

However, said technical report warns that the hydrocarbons subsector decreased 1.68%, an index associated with lower volume of crude oil exploitation (-9.4%). Yet the production of natural gas liquids (+1.5%) and natural gas (+0.4%) increased.

The document also indicates that the electricity subsector registered a rise of 1.93%, reflected in an increase due to greater generation of hydroelectric energy (+10.3%) and non-conventional renewable energy (+60.6%), plus a progressive decrease in thermoelectric generation (-14.7%).

Meanwhile, the INEI technical report mentions the decrease in gas distribution (-3.08%), determined by lower demand from electric generators (-8.7%); although, additionally, an increase in demand from companies (+17.4%) and natural gas vehicle refueling stations (+8.2%) is reported.

It should be noted that Minister Romulo Mucho's administration continues to work to unblock more investments and make new projects viable in the mining-energy sector, as it offers great opportunities for the country's economic growth and in favor of millions of Peruvians.

(END) NDP/MVB

Published: 7/18/2024