Peru is well known for its rich culture, its beautiful mountains, beaches and of course, the Inca ruins and from even before the Spanish inquisition - an abundance of precious metals.
Background on present day Peruvian mining
- The Peruvian Government has been losing tax and royalty revenues from small mines and informal miners exporting below the radar for hundreds of years.
- Recently instituted “formalization” process requires all mines to process materials through a recognized permitted mill facility.
- All investment grade gold and industrial application gold comes from rough mineral referred to as gold ore and must be processed through the milling regimen similar to our plant in order to bring it to the required level of purity.
- Many “informal miners” have been identified and have applied for “formalization”, and will need to ship their materials to an approved mill, presenting an outstanding opportunity for our Yuramayo Processing Plant
About 80% of the miners who have recently formalized or began the process of formalization are in Southern Peru and almost 15,000 miners are in the region of Arequipa. The Yuromayo processing facility is situated in the heart of the Arequipa region, just 2kms off the Pan American Highway, and because many of these small / medium sized miners do not have a licensed processing facility, ours is a perfect solution.
How Peru ranks in mineral production by global output
Peru ranks in first position in respect of copper, lead, molybdenum, tin, and zinc.
Peru’s national gold production holds first ranking in Latin America with Peru being the sixth highest producer of gold globally behind China, Australia, USA, Russia & South Africa.
Peru is first in the World for its production of silver (followed by China and Mexico).
The stability of the Peruvian judicial framework has been fundamental to encouraging investments in the mining sector. The total committed investment in the mining sector for the period 2009-16 is over $35.5 billion.
- World’s 6th largest producer of gold
- World’s 2nd largest producer of silver
- World’s 3rd largest producer of copper and zinc
- Mining provides 64% of the nation's exports
- US$53B investment expected over the next decade.
- Only country in South America serious about formalizing small scale mining sector.
- Political reform has rendered security concerns insignificant as compared to Brazil and Columbia.
- The worlds largest mining companies have been operating in Peru since the early 1990’s