Peru Mineral, Hydrocarbon Exports Seen Rising 29.8% In 2011

Consulting firm Maximixe said Tuesday that it expects Peru’s mining and hydrocarbon exports to increase by 29.8 percent this year to $32.2 billion, state news agency Andina reported.

The increase is due to the higher price for metals and petroleum, Maximixe said.

The consultant said that it forecast mineral and hydrocarbon exports to increase another 10 percent in 2012 due to higher mining production.

Higher production will come from expansions at polymetallic miner Antamina and Mexican-owned copper producer Southern Copper.

Maximixe said that the outlook for exports in 2012 could be higher if there was not the uncertainty in the global economy, which has resulted in a decline in metal prices due to expectations for lower demand.

Between January and August, Peru’s mineral exports brought in revenue of about $18 billion, up 36.1 percent compared to the year-ago period. Mineral exports account for about 60 percent of Peru’s overall shipments abroad.

 Natural gas and petroleum exports grew 68.2 percent in the period to $3.18 billion.

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