The mining industry is growing in Peru
October saw a growth of 1.37 percent compared to the same period last year. The production of the domestic mining community increased mainly in iron, gold, copper, molybdenum and silver. There was some decline in the production of zinc, tin and lead. At this year's PDAC virtual conference, Jaime Gálvez, the Minister of Energy and Mines, predicted that mining investment in 2021 will increase by around 21 percent year-on-year.
This is because mining is an important factor in the Peruvian economy. Many companies are also dependent on the mining supply chain. For the country to experience economic growth, the important mining sector is promoted. This in turn leads to job creation. In the spring of 2020, a hard lockdown course had been followed before companies were brought back up. Digital technologies have found their way into the sector. And Peru is one of the most interesting mining countries, as it is home to large deposits of metallic and non-metallic raw materials. It's no wonder, then, that virtually all of the world's major mining companies have a presence in Peru. After all, gold, silver and copper were already being processed in Peru long before the Inca era. Today, more than half of the country's export earnings can be attributed to mining. Mining companies are also audited for compliance with environmental standards and regulations.
Mining companies focused on Peru include Hannan Metals and Tier One Silver.
Hannan Metals - https://www.youtube.com/watch?v=t6PFpRjvfTo - owns the prospective San Martin copper-gold-silver project there.
Tier One Silver - https://www.youtube.com/watch?v=t6PFpRjvfTo - counts five projects in its portfolio, including the main Curibaya project. Drilling has already returned high-grade silver mineralization.
Current company information and press releases from Hannan Metals (www.resource-capital.ch/en/companies/hannan-metals-ltd/) and Tier One Silver (www.resource-capital.ch/en/companies/tier-one-silver-inc/).
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