Lima, Peru – Peru's mining sector continued its upward trajectory in November 2024, with mineral exports reaching a robust US$4.212 billion, marking a 19% increase compared to the same month in 2023. This data was released today by the National Society of Mining, Petroleum, and Energy (SNMPE).

Copper, Peru's primary export, contributed significantly to this growth. Exports of the red metal totaled US$2.237 billion in November, a 22.6% surge from the previous year. This increase can be attributed to both a 9.2% rise in copper prices and a 12.3% growth in export volume.

Gold also performed exceptionally well, with exports reaching US$1.315 billion in November, representing a 27% year-on-year increase. Despite a 4.8% decline in volume, the price of gold soared by 33.4%, bolstering overall export value.

When examining the cumulative data for the first eleven months of 2024, Peru's mineral exports totaled US$42.757 billion, reflecting a 10.3% increase compared to the same period in 2023. Copper maintained its dominance, accounting for a substantial 50% of the total mineral exports during this period.