Tuesday, February 12th 02:33 PM IST

Peru 2012 mineral exports shrink 1.7% on Gold

# Peru exports  # Yanacocha  # gold Peru  

Peru's national statistics agency INEI said the nation saw a 1.7% fall in mining exports in 2012 due to an 11.4% decrease in gold exports.

LIMA(BullionStreet): Decrease in gold exports trim overall mineral exports of Peru by 1.7 percent last year.

Peru's national statistics agency INEI said the nation saw a 1.7% fall in mining exports in 2012 due to an 11.4% decrease in gold exports.

In December last year, country's gold exports took a 35.2% dive in December from $191mn in 2011 to $124mn last year.

The lower gold exports contributed to the 18.7% drop in overall mineral exports in the last month of 2012.

Gold exports to the US rose 20.8% year-on-year, but were down 18.3% and 21.5%, respectively, to Switzerland and Canada.

Copper exports to China jumped 51.9%, but shipments to Chile were down 38%. Peru's principal export markets in 2012 were the US (15.8%), China (13.8%), Switzerland (6.4%), Chile (4.9%) and Canada (4.8%).

Minerals account for some 60% of the country's exports. Copper exports saw a slight decrease of 1.2% in December year-on-year to $211mn, while zinc ($434,000) and lead ($401,000) were down 13.9% and 53.9%, respectively.

Copper ($2.13bn) and lead ($550mn) exports rose in 2012 by 9.1% and 15.8%, respectively. Zinc slipped by 0.9% to $453mn in the year.

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