Peru election: Pedro Castillo to face Keiko Fujimori in run-off

A trade unionist will face the conservative heir of the powerful Fujimori family in Peru in a presidential run-off. Sunday's first round saw leftist Pedro Castillo, who has promised to write a new constitution and change de economic model, take the lead. His challenger will be the conservative Keiko Fujimori. Voters are concerned about the economy and the handling of the pandemic. With nearly 96% of the votes counted, Mr Castillo had 19% while Ms Fujimori was on 13%, according to Peru's electoral authority.

Peruvian copper covers 27% of China’s imports

Peru is the second largest supplier of copper and zinc to China, the main consumer of the metals in the world, informed the Minister of Energy and Mines, Jaime Gálvez. Peru supplies around 27% of China's demand for the red metal and 19% for zinc, he added. The reflection of this dynamic can be seen in international trade where, according to Gálvez, 64.2% of the value of copper exports last year was destined for China; and in the case of zinc, it represented 23.8%.

Peruvian mining exports grew 15% in the first two months of 2021, reaching $5.23bn

Peruvian mining exports reached $5.23 billion in the first two months of 2021, 15% more than exports in the same period last year ($4.55 billion), according to the National Society of Mining, Petroleum and Energy (SNMPE). Copper exports in the period January-February 2021 amounted to $2.635 billion, which meant an increase of 29.7% over the first two months of 2020, but only in the second month copper sales abroad were benefited by the increase in the price of the red metal by 45%.

Government subsidises payrolls of more than 15,000 companies

The Ministry of Labour published the first list of more than 15,499 companies chosen for the allocation of the payroll subsidy.The group of companies selected generated the hiring of 80,010 jobs corresponding to November 2020. Of the total number of subsidised jobs, 87% correspond to temporary contracts, where only 25.4% are young people and 61.6% are adults. While permanent contracts are made up of 2.3% young people and 10.7% adults.

Strike Resources to ship iron ore from Peru to China amid high demand

Strike Resources (SRK) has signed a two-year offtake agreement with an international iron-ore trading firm for iron ore mined from its Apurimac Iron Ore Project in Peru. The agreement includes a $2 million prepayment facility to fund the first ore shipment. The offtake agreement has been entered by Strike’s Peruvian subsidiary company and Good Importing International, an international iron ore trading company currently involved in iron ore offtake into China from various countries including Australia, Russia and South Africa.