“• The Peruvian mineral industry is important to its economy and enjoys competitive advantage from lower direct cost of production on account of good ore grades and low labor and energy costs and has and will remain, its major economic driver as evidenced from its contribution to exports, government tax revenues and employment generation.
• To September 2014, the mining sector’s contribution to exports was US$13.9 million or 49.5%, while in 2013, it accounted for 56% of exports, 13% of government revenues and generated 14% of employment.
• The country’s mining industry stands to benefit from a combination of positive factors. First, strong international commodity prices during 2008-2012 helped it reap rich dividends, followed by good grades and competitive costs which have helped it to remain as a target for foreign investments.
• The Peruvian Ministry of Energy and Mines has indicated that mining and metals sector investment will be worth US$59.5 billion over 2014-2020 of which around 60% will go into copper projects, with gold and iron ore accounting for the majority of the rest, driven primarily by the private sector, drawing upon a stable legal framework, free trade pacts, low external vulnerabilities and good investment grade rating which has helped in attracting most global mining multinationals.”
