Peru mining sees strong drill results as election runoff looms

Aftermath Silver reported Phase‑3 diamond drilling results from the Berenguela silver‑copper‑manganese deposit in Puno, Peru. The assay showed 25.3 m with 184 g/t silver, 1.39 % copper and 19.1 % manganese, and a second interval of 37.8 m with 150 g/t silver, 1.65 % copper and 26.3 % manganese. The news lifted the company's share price about 20 % and underscored the high‑grade mineralisation that could feed a future mine.

The sector remains crucial to the Peruvian economy – mining accounts for roughly 60 % of exports and attracted about $6 billion in investment last year. However, the upcoming presidential runoff between left‑wing candidate Roberto Sánchez and conservative Keiko Fujimori is creating market nervousness. Analysts warn that a Sánchez victory could trigger bond‑price drops and a weakening of the sol if his platform includes stricter regulations, higher taxes, or revocation of licenses such as the $1.8 billion Tía‑María project for Southern Copper. A recent central‑bank report also showed business confidence at its lowest in two years, adding to investor caution.