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In 2019, the gold production of Peruvian mines surpassed that of the mines of many African countries, which have always been ahead in this particular global ranking. This advance is the result of massive investments that now allow the Latin American country to boast lower production costs and a large production. In 2020, according to data from the US Geological Survey, Peru ranked seventh among the world's gold producing countries. Mexico follows closely, in eighth world position.
The production of Peruvian gold and silver has increased in the last five years by 2% and 12% according to data from the Ministry of Energy and Mines of Peru. But that is not all. In 2017, Paraguay's GDP grew by 4.95% compared to the previous year. Then, as already mentioned, there is Mexico, known above all for silver. However, gold also has an ancient tradition in the country since it has been mined for at least 500 years. However, virgin deposits still exist, many of which have recently become accessible thanks to improvements in mining technology.
The countries of Latin America, therefore, are well on the way to overcoming dominant positions in the ranking of lands where the production of precious metals is greater, consequently bringing significant benefits to the economy not only of individual states, but of the entire continental area.
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