Precious Metals Mining in Peru to 2020

Peru had the second-largest share (16.7%) of global silver reserves at the end of 2013, with 87,000 tonnes (t), and had the eighth-largest gold reserves at 1,900t, indicative of a 3.5% global share. In mine production, the country was the leading producer in Latin America in terms of gold output in 2013, and was the fifth largest producer globally. Its silver mine production in the same year was the second highest in Latin America, as well as the third-highest globally.

Scope

The report contains an overview of the Peruvian precious (gold and silver) metals mining industry, together with the key growth factors and restraints affecting it. Furthermore, it provides information about reserves, production, production by region, Peruvian vs global mine production, demand by end-use, prices, competitive landscape and major active, exploration and development projects.

Key Highlights

• The Peruvian mineral industry is important to its economy, and enjoys a competitive advantage from the lower direct cost of production on account of good ore grades and low labor and energy costs, and has and will remain its major economic driver, as evidenced from its contribution to exports, government tax revenues and employment generation.

• The mining sector’s contribution to exports was US$13.9 million to September 2014, or 49.5%, while in 2013 it accounted for 56% of exports and 13% of government revenues, and generated 14% of employment.

• The country’s mining industry stands to benefit from a combination of positive factors. First, strong international commodity prices during 2008-2012 helped it reap rich dividends, followed by good grades and competitive costs which have helped it to remain a target for foreign investments.

• The Peruvian Ministry of Energy and Mines has indicated that mining and metals sector investment will be worth US$59.5 billion over 2014-2020, of which around 60% will go into copper projects, with gold and iron ore accounting for the majority of the rest. This is driven primarily by the private sector, drawing upon a stable legal framework, free trade pacts, low external vulnerabilities and a good investment grade rating, which has helped in attracting most global mining multinationals.

Reasons to buy

Gain an understanding of the Peruvian precious metals mining industry, the relevant drivers and restraining factors, reserves, historic and forecast production, prices, the competitive landscape and the country's fiscal regime.

Companies mentioned

Newmont Mining Corporation

Barrick Gold Corporation

Compania de Minas Buenaventura SAA

Volcan Compania Minera SAA

Table of Contents

1 Executive Summary

2 Precious Metals Mining in Peru – Drivers and Restraints

2.1 Precious Metals Mining in Peru – Drivers

2.2 Precious Metals Mining in Peru – Restraints

3 Gold Mining in Peru – Reserves and Production

3.1 Reserves by Grade and Geographic Region

3.2 Historical and Forecast Production

3.3 Total Production by Region

3.4 Gold Prices

3.5 Total Production by Major Mines

3.6 Major Exploration and Development Projects

3.7 Peruvian vs Global Gold Mine Production

3.8 Demand by End-Use Sector

4 Silver Mining in Peru – Reserves and Production

4.1 Reserves by Grades and Geographic Regions

4.2 Historical and Forecast Production

4.3 Total Production by Region

4.4 Silver Prices

4.5 Total Production by Major Mines

4.6 Major Exploration and Development Projects

4.7 Peruvian vs Global Silver Mine Production

4.8 Demand by End-Use Sector

5 Competitive Landscape

5.1 Newmont Mining Corporation

5.2 Barrick Gold Corporation

5.3 Compania de Minas Buenaventura SAA

5.4 Volcan Compania Minea SAA

6 Fiscal Regime

6.1 The Peruvian Mining Industry – Governing Bodies

6.1.1 Ministry of Energy and Mines (MINEM)

6.2 The Peruvian Mining Industry – Governing Laws

6.2.1 General Mining Law

6.2.2 Mining Royalty Act

6.2.3 Prospecting and Exploration

6.2.4 Mining Concession

6.3 The Peruvian Mining Industry – Rights and Obligations

6.3.1 Rights

6.3.2 Obligations

6.4 The Peruvian Mining Industry – Key Fiscal Terms

6.4.1 Royalties

6.4.2 Corporate tax

6.4.3 Capital gains tax

6.4.4 Depreciation

6.4.5 Withholding tax

6.4.6 Loss carry forward

6.4.7 Value added tax (VAT)

7 Appendix

7.1 What is This Report About?

7.2 Methodology

7.3 Secondary Research

7.4 Primary Research

7.5 Contact GlobalData

7.6 About GlobalData

7.7 GlobalData’s Services

7.8 Disclaimer

List of Tables

Table 1: Gold Mining in Peru – Reserves by Region (Thousand Ounces), 2012

Table 2: Gold Mining in Peru – Gold Mine Production, (Thousand Ounces), 2000–2020

Table 3: Gold Mining in Peru – Major Active Mines, 2014

Table 4: Gold Mining in Peru – Major Exploration Projects, 2014

Table 5: Gold Mining in Peru – Major Development Projects, 2014

Table 6: Silver Mining in Peru – Reserves by Regions (Thousand Ounces), 2012

Table 7: Silver Mining in Peru – Silver Mine Production (Million Ounces), 2000–2020

Table 8: Silver Mining in Peru – Major Active Mines, 2014

Table 9: Silver Mining in Peru – Major Exploration Projects (Thousand Ounces), 2014

Table 10: Silver Mining in Peru – Major Development Projects (Thousand Ounces), 2014

Table 11: Precious Metals Mining in Peru – Newmont Mining Corporation, Major Projects, 2014

Table 12: Precious Metals Mining in Peru – Barrick Gold Corporation, Major Projects, 2014

Table 13: Precious Metals Mining in Peru – Compania de Minas Buenaventura SAA, Major Projects, 2014

Table 14: Precious Metals Mining in Peru, Volcan Compania Minera SAA, Major Projects, 2014

Table 15: The Mining Industry in Peru – Royalty Rates (%), 2014

Table 16: The Mining Industry in Peru – Depreciation Tax Rates (%), 2014

Table 17: The Mining Industry in Peru – Withholding Tax Rates (%), 2014

List of Figures

Figure 1: Precious Metals Mining in Peru – Exports by Economic Sector (%), 2013

Figure 2: Precious Metals Mining in Peru – Planned Investment by Sector, 2014–2015 (%)

Figure 3: Gold Mining in Peru – Location of Gold Reserves by Region (%), 2012

Figure 4: Gold Mining in Peru – Gold Mine Production (Thousand Ounces), 2000–2020

Figure 5: Gold Mining in Peru – Total Production by Region (%), 2013

Figure 6: World Nominal Gold Prices – US$/oz (2000–2013)

Figure 7: World Forecast Nominal Gold Prices – US$/oz (2013*–2020)

Figure 8: Gold Mining in Peru – Peruvian vs Global Gold Mine Production (%), 2013

Figure 9: Gold Mining in Peru – Demand by end-use (%), 2013

Figure 10: Silver Mining in Peru – Location of Silver Reserves by Region (%), 2012

Figure 11: Silver Mining in Peru – Silver Mine Production (Million Ounces), 2000–2020

Figure 12: Silver Mining in Peru – Total Production by Region (%), 2013

Figure 13: World Nominal Silver Prices – US$/oz (2000–2013)

Figure 14: World Forecast Nominal Silver Prices – US$/oz (2013*–2020)

Figure 15: Silver Mining in Peru – Peruvian vs Global Silver Mine Production (%), 2013

Figure 16: Silver Mining in Peru – Demand by end-use (%), 2013

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