Mining

Contributing around 10% to GDP in 2017, the mining sector is fundamental to Peru’s economy, accounting for significant levels of foreign exchange and tax revenues, as well as the creation of direct and indirect jobs. Supportive legal and tax regimes, low production costs and an abundance of natural resources all contribute to increasing investor appetite, together with a relatively stable macroeconomic and political environment, which has given rise to favourable mining policies. However, the sector is not without its challenges; growth is only just now returning after a period of low commodities prices, while conflicts in mining regions in some parts of the country have made it clear that mining companies need to work more closely with local communities. Still, the recommencement of key projects, rising mineral prices and the pro-business policies of the new administration of President Martín Vizcarra all bode well for the sector. This chapter contains interviews with Luis Marchese, President, National Society of Mining, Petroleum and Energy; and Country Manager, AngloAmerican; and Mariela García, CEO, Ferreycorp.