Mining

The mining sector can be described as one of the main engines of the Peruvian economy as it accounts for 12% of total GDP. It creates direct employment for 174,000 workers and indirectly accounts for another 1.5m jobs. In 2016 mining exports totalled $23.8bn – consisting of 65% of the country’s total merchandise exports. The medium-term outlook is certainly positive, with a range of new mines set to be developed, including Quellaveco in the Moquegua region, where work could start late in 2017. Projects that could come to fruition in 2018 include the Mina Justa and Marcona mines in Ica, the Ollachea gold mine in Puno and expansion works for the Toromocho project in Junín. Work on the Pampa de Pongo iron reserve in Arequipa is expected to start in 2020, and at the Laguna Norte gold mine in La Libertad in 2021.

This chapter contains interviews with Carlos Gálvez Pinillos, Vice-President and CFO, Minas Buenaventura, and Luis Rivera, Vice-President, Gold Fields Las Americas.