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LatinNews Daily - 15 June 2021

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In brief: Mining exports recover in Peru

* The Sociedad Nacional de Minería, Petróleo y Energía (SNMPE), a local extractive industry lobby, has announced that Peru’s mining exports totalled US$11.17bn in January-April, representing a 49% increase on the same period in 2020, when exports totalled US$7.5bn. Copper exports were up 66.7% year-on-year, totalling US$3.41bn, while gold exports increased by 17.7% to US$2.47bn. The SNMPE said that the increased revenue from mining exports was attributable to a 67.6% rise in the value of copper and a 60.7% increase in export volume compared to 2020, when the world entered a severe economic slowdown as a result of the coronavirus (Covid-19) pandemic. Peru’s labour minister, Javier Palacios, said that Peru’s regions had received over PEN1.65bn (US$425.8m) in transfers from the mining industry in the first four months of 2021, consisting of royalties, taxes, and compensation payments. Palacios said that Ancash region had received the greatest share of mining transfers (27.2%; PEN451m), followed by Arequipa (11.6%; PEN192m), and Tacna (10.2%; PEN170m).