Peru’s economy recovers strongly – good for the mining industry

Peru is rich in mineral resources such as gold, silver, copper and zinc.

Agricultural products also play a major role in Peru, but are subject to the El Niño and La Niña phenomena. For commodity fans, gold, silver and Co are of interest in the country known for Maya and Inca culture. Now the economy in Peru has also recovered tremendously. In the second quarter of 2021, the gross domestic product (GDP) increased by 42 percent compared to the same quarter last year. Although GDP fell 30 percent in the second quarter of 2020 due to a hard lockdown, the recovery is still spectacular. In the spring, the country was politically unstable, with the results of the presidential election contested.

This led to uncertainties, as a result of which foreign investors withdrew an estimated three billion US dollars. As a result, the national currency depreciated sharply. Now, due to the enormous economic recovery, Peru’s central bank has even raised key interest rates for the first time in five years. If the economic recovery continues, there could be further growth potential. Economic growth is generated, for example, by new investments, higher labour supply, the development of raw material deposits or technical progress.

Economic growth is important because it is needed for an increase in living standards, a more equal distribution of income and wealth, and for the fulfilment of governmental tasks. Kuya Silver and Hannan Metals are companies with projects in Peru.

Hannan Metals – is an exploration company with the goal of finding large copper-silver and copper-gold deposits. It is vigorously exploring the San Martin copper-silver project, which has already produced very good results.

Kuya Silver – focuses on silver and owns the Bethania project in Peru, which contains the Bethania mine that was producing until 2016. The operation is to be restarted along with an expansion.

Current corporate information and press releases from Kuya Silver (- -) and Hannan Metals (- -).

In accordance with §34 WpHG I would like to point out that partners, authors and employees may hold shares in the respective companies addressed and thus a possible conflict of interest exists. No guarantee for the translation into English. Only the German version of this news is valid.

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