LatinNews Daily - 02 July 2021

In brief: Peru sees strong growth in extractive industry

* Peru’s national statistics institute (Inei) has published a report showing year-on-year growth in activity of 66.89% in the extractive sector for May 2021. This was mostly driven by metallic mining, which accounted for 82.48% of the growth followed by hydrocarbon extraction, which accounted for 6.66%. The strong performance, which followed a year-on-year contraction in activity of 45.79% in May 2020, was driven by increased production of zinc (up 385.9%), silver (168.3%), lead (159.6%), gold (91.7%), tin (86.4%), copper (54.3%), and molybdenum (5.9%). Crude oil extraction increased by 30.4% and liquid natural gas increased by 1.8%, but natural gas extraction declined by 7.3%.

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