PUBLICATION

Global Business Reports

AUTHORS

Lucrezia Falcidia, Kolby Kaller, Susana Isotupa

Peru Mining 2022 Pre-Release Edition 1

March 22, 2022

In 2021, the Peruvian mining industry rebounded after the devastating effects of the pandemic. It attracted investments around US$5.24 billion, which represented a 21% increase with regards to the previous year. Mining producers started making up for lost time after the easing of restrictions and encouraged by soaring metals prices, bringing huge opportunities to the whole value chain.

However, 2021 was also marked by a contentious general election, where Pedro Castillo won the runoff by an exceptionally narrow margin. The months following his victory have been characterized by a profound political instability and an uptick in social conflicts, which are significantly hindering investments in new mining projects.

If the mining industry is to take full advantage of the Peru’s outstanding geological potential and the bullish outlook for metals, more clarity in mining policies is key to attract investments into the country, as well as a more favorable environment to promote dialogue with society.

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RECENT PUBLICATIONS

Peru Mining 2024 Pre-Release II

As the second half of 2024 approaches, Peru stands at a crossroads. According to the latest figures, the Democratic Republic of Congo has surpassed Peru as the second-largest copper producer. Cabinet changes under Boluarte's administration and ongoing corruption cases have taken a toll on investor confidence, and illegal mining remains a pressing issue. However, not everything is lost for the Andean country, and the mining sector presents growth opportunities.

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MACIG

"We plan to double our copper production by the end of the decade. There remains significant upside potential in the gold industry, and the copper operations are strategic and additive to that."

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