Latest news with #AdrianArmas
Bloomberg
09-05-2025
- Business
- Bloomberg
Peru's Emergency Mining Ban to Cost $200 Million in Lost Gold Output
Peruvian gold output is expected to be significantly dented in the coming month due to a mining ban in a northern region of the country that's seen an up-tick in criminal activity culminating in the murder of 13 mine workers. The central bank estimates that companies will lose about 60,000 ounces of production in the next 30 days, its chief economist Adrian Armas told reporters Friday. That's worth about $200 million at current prices and represents about 20% of the country's total output in the month of February, the most recent production data available.
Reuters
15-04-2025
- Business
- Reuters
Peru economy undershoots expectations in February
LIMA, April 15 (Reuters) - Peru's economy grew 2.68% in February, data from the nation's INEI statistics agency showed on Tuesday, falling short of estimates despite most sectors logging growth. The February data landed below the 3.5% estimate of analysts polled by Reuters. The Andean nation's key mining and energy sector shrank 1.36%, with utilities and telecommunications services also contracting. Peru is the world's third-largest copper producer. The farming and the smaller fishing sectors advanced 4.35% and 24.64%, respectively. Manufacturing industry expanded by 1.94% and transportation was up 5.66%. The central bank's top economist said last week that the nation's economy would face a moderate hit from newly implemented tariffs from the U.S. Economist Adrian Armas said the Peruvian economy likely grew around 4% in the first quarter.
