Mining

By any measure, Peru is a giant of the global mining industry. Only Chile and China produce more copper and the country is the world’s seventh-largest producer of gold and the third largest of silver. It is unsurprising that Peru’s economic fortunes have been tied to the mineralogy of the Andes Mountains for many centuries. The mining industry has been the driver behind the growth of the Peruvian economy for 10 years, today accounting for about 17.6% of GDP and half of exports. In the first half of 2015 Peru exported just over $9bn of metals, its weakest six-month performance since 2009. However, local miners are well placed to withstand a period of low prices, and the entrance of major new projects means 2016 should be a bumper year for production. A coherent strategy for resolving social conflicts is set to figure among the priorities of future governments. This chapter contains an interview with Rosa Maria Ortiz, Minister of Energy and Mines.