In 2020, investment into Peru’s mining industry totalled US$4.33 billion, a decrease of over 29% from the US$6.15 billion spent in 2019. However, a rebound is expected in 2021. Producers have been looking to make up for time lost during the three-month lockdown in 2020, spurred on by the surging copper price, which hit an all-time-high in May 2021, and has remained over US$4/lb since February.
The election of Pedro Castillo’s Perú Libre government comes at a crucial moment for the country. Peru’s mining sector could be its engine of economic recovery, but this will require collaboration between the State and the private sector. To take advantage of the bullish macro outlook for mining and metals, political stability and addressing a cumbersome permitting process are urgent.
Our 2021 Peru Mining Report, the latest in GBR’s flagship Industry Explorations series, is the product of over 120 interviews with major mining companies, junior explorers, engineering firms, consultants, service providers, equipment and technology suppliers and associations. The result is an up-to-date review and analysis of the current operations, projects and trends in Peru's mining industry.