Peru's Molybdenum Production Exceeded Pre-Pandemic Levels

According to Peru's Communiqué, between January and February of 2021, the mining for molybdenum production has surpassed the levels registered during the pre-pandemic stage. According to the epidemic report from February 18 to March 17, the death data provided by the National Center for Disease Control and Prevention of Peru (CDC), the local health bureau (Diresa) and the Comprehensive Health Network (Diris) provided differences.

The Office of the Auditor General requires relevant departments in all regions to provide information to find out the reasons for the difference in death figures. According to the report, these reasons include: poor CDC monitoring; the cut-off point of statistical data in various regions is inconsistent with the CDC; only cases with symptoms and positive test results are recorded.

On the other hand, the Peruvian Ministry of Energy and Mining (Minem) reported that in the first two months of 2021, the mining output of zinc, tin, iron and molybdenum exceeded the pre-epidemic level.

Minem Minister Jaime Galvez pointed out that due to the increase in the price of mineral products, Peru's mining exports have recovered, especially six of the eight major export metals. In addition, the mining volume has also been higher than the level before the epidemic.

The Minister stated that since the largest decline in mining output in May 2020, the Peruvian mining industry has been recovering steadily, with open-pit mining recovering better than underground mining. The Minister also emphasized that the mining concession area of Peru accounts for nearly 15% of the country's land area and has great potential.

Finally, the Minister pointed out that despite the outbreak of the Covid-19 pandemic, Peru is still an attractive country for molybdenum mining investment. The mining industry will become the main driving force of Peruvian economic recovery to the pre-pandemic level. The current challenge is to strengthen the social work of the mining community and promote the more involved smaller companies.

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