All mining activity in Peru is in the hands of private companies operating under long-term licences granted by the government. The World Bank/IFC’s Doing Business 2011, puts Peru in the second place after México in the regional countries attractive for doing business.
Mining sector in Peru
Peru is a top metal and mineral producer and in 2010 ranked 3rd largest country in mining exploration. The
market is US$ 5.4bn worth of goods and services.
Mining is the bedrock of the Peruvian economy and acts as a driver for other sectors such as
power, construction, railways and financial services.
All mining activity in Peru is in the hands of private companies operating under long-term
licences granted by the government. The World Bank/IFC?s Doing Business 2011, puts Peru in
the second place after M?xico in the regional countries attractive for doing business.
Peru is the leading mining country in Latin America based on the 2010 production levels of
Mineral Global Ranking Latin American Ranking
Silver 1 1
Copper 2 2
Zinc 2 1
Gold 6 1
Tin 3 1
Bismuth 3 1
Tellurium 3 1
Lead 4 1
Mercury 4 1
Molybdenum 4 2
Selenium 9 2
Cadmium 12 2
Iron 17 5
U.S. Geological Survey, The Silver Institute, Gold Fields Minerals Services, International
Copper Study Group, International Lead and Zinc Study Group, International Tin Research
Institute, International Molybdenum Association, Latin-American Institute of Iron and Steel.
Total mining exports in 2010 were US$21.72 billion, approximately 62% of the Peru?s total
exports. In the first quarter of 2011 exports of mining metallic products has reached US$8.4
billion, which represents an increase of 27.4% over the same period in 2010.
Over the next 5 years investments in the mining sector will be US$ 47 billion. Main companies
Anglo American (UK) US$3.7 billion, Xstrata Copper (UK/Swiss) US$6.7 billion, Chinalco
(China) US$2.2 billion, Antamina (JV with Xstrata and BHP Billiton) US$1.2 billion, Rio Tinto
(UK) US$1 billion, Minmetals (China)/ Lumina Copper US$2.5 billion, Zijin Mining (China)
US$1.4 billion, Shougang Corp. (China) US$1billion, Nanjin Zhao US$3.2 billion, Metminco
(Australia) US$2.2 billion, Candente Copper (Canada) US$1.5 billion, Freeport-MacMoran
Copper US$1 billion, Votoramtim Metais (Brazil) US$3.2 billion, Newmont (US) and
Buenaventura (Peru) US$3.5 billion.
Some specific projects include:
? Antamina (copper/zinc and molybdenum/silver /lead) project currently upgrading their
installations and producing capacity through an expansion plan of 38% in their mineral
processing, extending the life of the project from 2023 to 2029. Works include
modifications in the concentrating plant, expansion of the power supply and modifications
to the port. US$377 million invested in the first half of 2011.
? Chinalco?s copper project Toromocho with a total investment of US$2.2 billion invested
2011 US$223.12 million in the first half of 2011.
? Xtrata Las Bambas project continues with the development of this large project having
invested US$349 million so far and in June 2011 alone they have invested US$18.9
million. They are in the process of building a port at Oco?a in the Arequipa Region to
deliver copper concentrates. This terminal will have a capacity to attend bulk carrier
vessels of up to 250,000 TM dead weight. The port will require a total investment of
US$60 million and should be ready by 2013.
? The construction of a new port terminal exclusively for mineral concentrates in Callao,
Lima will start by end 2011, with an investment of around US$120 million. The terminal
will be ready in three years with a concession contract of 20 years and an output of 2
thousand tons per hour.
? Local mining company Volcan will build three hydroelectric plants and one transmission
line by 2015. With an investment of approximately US$ 558.9 million the power plants are
of 180, 110 and 9.2 MW. The transmission line will require an investment of US$ 22.1
million and should be ready by end 2012.
Latest export opportunities ? Mining
Latest export opportunities - Peru
Getting into the market
There are a large number of companies in Peru supplying the mining sector. Many of them act as
agents for foreign suppliers. British products are supplied both through direct selling and agency
or representative operations. Consumable items like drills and chemicals are usually sold through
a local importer, while major capital items should be marketed and sold directly to the logistics
departments of the mining companies.
More about doing business in Peru
Market intelligence is critical when doing business overseas, and UKTI can provide bespoke
market research and support during overseas visits though our chargeable Overseas Market
Introduction Service (OMIS).
To commission research or for general advice about the market, get in touch with our specialists
in country - or contact your local international trade team.
?Michelle de Rivero, British Embassy Lima. Tel: +51 (1)617 3034 or email:
?Sharon Ganney, British Embassy Lima. Tel: +51 (1)617 3031 or email:
Contact your local international trade team
UKTI runs a range of events for exporters, including seminars in the UK, trade missions to
overseas markets and support for attendance at overseas trade shows.
Latest events ? Mining
Perumin Mining Convention and Exhibition
Date: September 2013
International Gold Symposium
Date: May 2012
International Congress of Women in Mining - WAAIME
Date: August 2012
More about OMIS and other UKTI services for exporters