Peru was recently ranked by Bloomberg Markets Magazine as the fourth most attractive emerging economy for investment, behind only China, South Korea and Thailand. The Peruvian economy has doubled in size since 2002, with mining accounting for 24.45% of total foreign investment in 2011, and over 50% of total trading volume on the Bolsa de Valores de Lima, Lima’s stock exchange. An estimated $53 billion is expected to flow into the country over the course of the next decade for mining projects alone, with $19.5 billion of these investments to be realized in 2013 and 2014. Investments in the sector are speculated to rise by 16% this year alone. According to the U.S. Geological Survey, in 2012 Peru was the world’s third largest producer of copper, silver, zinc and tin, in addition to the fourth largest producer of molybdenum, the fifth largest producer of lead, and the sixth largest producer of gold. Beyond this, Peru is also known for phosphates, tungsten and, increasingly, iron and uranium.

It is the country’s lack of resource nationalism that has attracted such wide diversity of investment. Operating in Peru does not entail the same threat of nationalization of other Andean countries, like Bolivia or Ecuador. For five years already Peru has been deemed investment grade and those who have invested in the country have been handsomely rewarded. Peru boasted one of the best country-focused exchange traded funds last year, outperforming many commodity specific funds, like those focused on gold and copper, which had been a staple for investors in the industry.