Conflicts hold back mining investment 13.2%

social conflicts the strengthening since December last year had a direct impact on the growth of the sector, and this can be verified using the data released Ministry of Energy and Mines (Minem).

According to the portfolio, reports for January and February showed a 13.2% decline in investment in the mining industry compared to the same period in 2022, when total projects amounted to $526 million.

Mining equipment fell 38.7% in these months, but a significant 67.7% drop was also found in activities critical to the growth of the sector.

In accordance with He MinemIn February alone, the drop was 22% “due to social and weather aspects that are emerging in the country.”

Which mining companies have contributed the most to the sector?

In the report antamine had a 14% equity stake, having increased spending in the second month of the year at its Huincush refinery.

Meanwhile, Southern Peru Copper Corporation Sucursal del Perú is in second place with a 10.5% share, followed by Anglo American Quellaveco with 10.1%.

We take into account that the mining sector also affects the generation Job direct, which fell by 0.1%, with the Arequipa region ranking first in terms of the distribution of jobs across the country.

How did mining develop?

According to Minem, there was a drop in production tin (-79.4%), molybdenum (-17.5%), silver (-14.4%), lead (-8.4%), zinc (-6.4%) and gold (-5, 9%).

While iron rose 44.6% and copper rose 5.2%, the latter was driven by Cerro Verde’s mining. Southern Peru Copper Corporation and Minera Chinalco.