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Peru's mining exports would be around US$47 billion and will grow 7.4% in 2024, according to BCR
Thursday, May 23, 2024 - 19:30
Fuente: Agencia Andina

This would be raising the forecasts that were made at the beginning of this year. The issuing entity had projected that mining shipments would reach US$40,541 million by the end of 2024.

The president of the Central Reserve Bank of Peru (BCRP), Julio Velarde, projected that mining exports would be around US$ 47,000 million this year due to the better prices of minerals in the international market, which would imply a growth of 7.4 % compared to what was registered last year (US$ 43,733 million).

"If the prices of two days ago remain unchanged, projections suggest that mining exports will approach US$47 billion this year," he said at the Mining Symposium organized by the National Society of Mining, Petroleum and Energy (SNMPE).

This would be raising the forecasts that were made at the beginning of this year. The issuing entity had projected that mining shipments would reach US$40,541 million by the end of 2024.

This would imply a 15% increase in the BCR's projections on mining exports for this year.

GREATER DEMAND

On the other hand, Velarde explained that the use of artificial intelligence is generating greater demand for electrical energy.

"The greater demand for copper not only comes from the issue of substitution with renewable energies but also from the use of new technologies that increases the consumption of electrical energy. It is a factor that was not being considered in the provisions of five years ago," said.

He commented that this change will provide important support for metals such as copper in the next five years.

Autores

Agencia Andina