Peru Power Grid Cost Surge Threatens 15% of Global Silver Supply
A pipeline rupture, emergency funding for Petroperú, and Strait of Hormuz pressures have spiked energy costs in Peru, endangering approximately 15% of global silver mine output.
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Peru's power grid costs have quintupled, driven by a pipeline rupture, an emergency state finance package for state oil company Petroperú, and rising pressure on imported diesel from the Strait of Hormuz. Underground silver mines, which cannot easily adjust operations, are particularly exposed.
According to the report, roughly 15% of global silver mine supply now faces acute energy-cost stress. The situation could tighten silver availability if mines are forced to cut output or shut down.
Source: FXStreet Forex News