the mineral industry of peru

7/29/2019 The Mineral IndusTry of Peru

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2010 Minerals Yearbook

U.S. Department of the InteriorU.S. Geological Survey

PERU [ADVANCE RELEASE]

March 2012


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Peru2010 [ADVANCe reLeASe] 17.1

TheMineral indusTryof Peru

By Alfdo C. Gmndi

In 2010, P occpid a lading position in th global

podction of th following minal commoditis: asnic

tioxid (foth aft China, Chil, and Moocco), bismth

(thid aft China and Mxico), copp (scond aftChil), gold (sixth aft China, Astalia, Soth Afica, th

unitd Stats, and rssia), lad (foth aft China, Astalia,

and th unitd Stats), molybdnm (foth aft China,

th unitd Stats, and Chil), hnim (foth aft Chil,

Kazakhstan, and the United States), silver (rst followed by

China and Mxico), tin (thid aft China and Indonsia), and

zinc (second after China). In Latin America, Peru was rst in the

podction of bismth, gold, lad, silv, tllim, tin, and zinc,

and scond in th podction of cadmim, copp, molybdnm,

and slnim (Books, 2011a, b; Calin, 2011a, b; edlstin,

2011; Gog, 2011; Gbman, 2011; Ministio d enga y

Minas, 2011a, p. 2021; Polyak, 2011a, b; Tolcin, 2011).

Ps goss domstic podct (GDP) basd on pchasingpow paity incasd to $275.7 billion in 2010 fom

$253.4 billion in 2009. As it covd fom th wak conomic

cycl of 2009, Ps GDP gw at a at of 8.8% compad

with 0.9% in 2009. Ps nt montay intnational svs

incasd to $44.1 billion compad with $33.1 billion in

2009. expots xcdd impots by $6.8 billion. Accoding to

gistd statmnts sbmittd by companis and invstos to

PoInvsin (as qid by Aticl 19 of Lgislativ Dc

No. 662) Ps foign dict invstmnt (FDI) achd

$20.8 billion in 2010 compad with a visd $19.4 billion

in 2009, which psntd an incas of 7.2%. This FDI

provided Peru with additional benets, such as technology

tansf and managmnt xptis. Th main socs of pivatinvstmnt to P w Spain ($4.6 billion), th unitd Stats

($3.0 billion), Soth Afica ($2.0 billion), Chil ($1.6 billion),

Bazil ($1.2 billion), and th unitd Kingdom ($1.1 billion),

among oths. Th mining scto civd th lagst sha of

FDI ($4.8 billion, o mo than 23.1%). Mch of th invstmnt

was mad in th past 5 yas thogh th implmntation of

vaios pojcts. Th majo mining companis activ in P,

in tms of amont invstd in nw min pojcts, w Anglo

Amican Qllavco S.A. (a sbsidiay of Anglo Amican

plc. of th unitd Kingdom); Compaa Mina Antamina

S.A. (a sbsidiay of BHP Billiton Ltd. of Astalia, 33.75%;

Xstata Copp of Switzland, 33.75%; Tck Cominco Ltd.

of Canada, 22.5%; and Mitsbishi Cop. of Japan, 10%); Gold

Filds La Cima S.A. (a sbsidiay of Gold Filds Ltd. of

Astalia); Mina Yanacocha S.r.L. (a sbsidiay of Nwmont

Mining Cop. of th unitd Stats and Compania d Minas

Bnavnta S.A.A. of P); Socidad Mina Co Vd

S.A.A. (a sbsidiay of Fpot-MacMoan Copp of th

unitd Stats); Sothn P Copp Cop. (a sbsidiay of

Gpo Mxico, S.A. d C.V.); Votoantim Mtais Cajamaqilla

S.A.; and Xstata Tintaya S.A. (a sbsidiay of Xstata plc

of Switzland). Invstmnts in th Pvian mining scto,

of mo than $50 billion, w annoncd fo th coming

yas (2011 thogh 2015). In 2010, FDI in th ngy scto

amontd to $2.8 billion and that in th hydocabons scto was

$0.5 billion whereas the communications and nancial sectorscivd $3.8 billion and $3.1 billion, spctivly (Banco

Cntal d rsva dl P, 2011, p. 17; Lna, 2011, p. 3, 30;

Ministio d enga y Minas, 2011a, p. 4447; PoInvsin

Pivat Invstmnt Pomotion Agncy in P, 2011).

In 2010, mining companis committd to invst $20.7 billion

in 23 xploation pojcts. Among ths companis, Jinzhao

Mining P S.A. (a sbsidiay of Nanjinzhao Gop Co. Ltd.,

Zibo of China) committd to invst $3.3 billion in th Pampa

d Pongo ion pojct, which is locatd in th Aqipa rgion

and was to stat opations by 2012; Minmtals/Jiangxi Copp

of China ($2.5 billion) wold opat th Galno copp pojct,

which is locatd in th Cajamaca rgion and was to stat

opations by 2014; Apimac Fm S.A. (a sbsidiay ofStrike Resources of Australia) ($2.3 billion) planned to dene

th Apimac ion pojct, which is locatd in th Apimac

rgion and was to stat opations in th na ft; and

Mina CN S.A.C. (a sbsidiay of Mtminco Ltd. of Astalia)

($2.2 billion) planned to dene the Los Calatos copper-

molybdnm pojct, which is locatd in th Moqga rgion

and was to stat opations in th na ft (Lna, 2011,

p. 40, 42; Ministio d enga y Minas, 2011a, p. 48).

Th conty had 11 min pojcts that had appovd

nvionmntal impact assstmnts (eIA) and w nd

constction. A total invstmnt of $16.6 billion had bn

committd fo ths pojcts. Among th invstos, Xstata

P S.A. (a sbsidiay of Xstata Copp of Switzland)had committd to invst $4.2 billion in Las Bambas copp

pojct, which is locatd in th Apimac rgion and was to

stat opations by 2014; Mina Yanacocha had committd

to invst $3.5 billion to opat th Minas Conga copp-gold

min, which is locatd in th Cajamaca rgion and was to

stat opations by 2015; Anglo Amican Qllavco S.A.

had committd to invst $3.0 billion to opat th Qllavco

copp min, which is locatd in th Moqga rgion and

was to stat opations by 2014; and Mina Chinalco P

S.A. (a sbsidiay of Chinalco-Alminm Cop. of China)

had committd to invst $2.2 billion to opat th Toomocho

copp min, which is locatd in th Jnin rgion and was to

stat opations by 2013 (Lna, 2011, p. 4243; Ministio d

enga y Minas, 2011a, p. 47).

eight opating mins w in th xpansion pocss, and

a total invstmnt of $5.1 billion had bn committd fo

ths xpansions of xisting opations. Among th opating

companis involvd, Compaia Mina Antamina had committd

to invst $1.1 billion to xpand th Antamina copp-zinc

min, which is locatd in th Ancash rgion and was to stat

xpandd opations by aly 2012; Shogang Cop. of China

had committd to invst $1.0 billion to xpand th Macona


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17.2 [ADVANCe reLeASe] u.S. GeOLOGICAL SurVeY MINerALS YeArBOOK2010

ion min, which is locatd in th Ica rgion and was to stat

xpandd opations by aly 2012; and Socidad Mina Co

Vd had committd to invst $1.0 billion to xpand th Co

Vd Min, which is locatd in th Aqipa rgion and

was to stat xpandd opations by 2012 (Lna, 2011, p. 46;

Ministio d enga y Minas, 2011a, p. 48).

Th stability of th Pvian jdicial famwok was

fndamntal to ncoaging invstmnt in th mining scto.

Th total committd invstmnt in th mining scto fo th

piod 2011 thogh 2016 was $42.5 billion, of which thlading contis and invstos w China ($10.4 billion),

Switzland ($5.7 billion), th unitd Stats ($5.6 billion),

Canada ($5.5 billion), th unitd Kingdom ($4.7 billion),

Astalia ($4.5 billion), and Mxico ($2.8 billion), among oths

(Lna, 2011, p. 4244; Ministio d enga y Minas, 2011a,

p. 4849).

Pivat invstmnt in P contind to incas owing to

th contys macoconomic stability and th involvmnt of

opating companis with th commnitis wh thy opat.

Also, foign invstmnt in th minal scto contind to b

stong bcas th contys lgal famwok with spct to th

minal indsty was invsto findly and bcas th conty

contind to hav positiv conomic gowth (Ministio denga y Minas, 2011c).

In 2010, invstmnts in th mining scto incasd by

47% and amontd to $3.7 billion. Majo capital invstmnts

incldd Xstata Tintayas invstmnt in th Antapaccay copp

pojct in Csco rgion; Antaminas invstmnt to incas

th installd capacity of its concntato plant by 20,000 mtic

tons p day (t/d); Yanacochas invstmnt in th ngining

and dsign of th Minas Conga pojct, th xpansion of th

lixiviation aas in Chapiloma S, and th constction of a

cntal spply wahos; and Sothn Ps invstmnt to

modniz and xpand its facilitis in Cajon and Toqpala

(tabl 2; Ministio d enga y Minas, 2011a, p. 5051;

2011c; PoInvsinPivat Invstmnt Pomotion Agncyin P, 2011).

Ptlos dl P S.A. (Ptop), which was a stat-ownd

company, was involved in the transportation, rening, and

marketing of rened products and other derivatives of

ptolm. Ptop was xcldd fom th pivatization

pocss bt was athoizd to paticipat in th xploation

fo and podction of hydocabons nd law No. 28244 of

Jn 2, 2004. Th stat agncy Ppto S.A. was catd

on Novmb 18, 1993 (law No. 26221) to b sponsibl fo

pomoting invstmnts in th Pvian hydocabon scto.

Ppto ngotiats, signs, and administs hydocabon

contacts fo which Ptop mst compt with th pivat

scto (Ministio d enga y Minas, 2011c, d).

In 2010, Ppto attactd invstmnt of abot $3.3 billion

to th hydocabon scto. Th Camisa Natal Gas Pojct

civd an invstmnt of $1.3 billion, and invstmnt in

Camisa was xpctd to incas to $3.0 billion by 2013.

Peru LNG, which was Camisas liqid natal gas (LNG)

pojct, was a patnship of Hnt Oil Co. of Dallas, Txas

(50%), rpsol YPF, S.A. of Spain and SK engy Co. Ltd. of

th rpblic of Koa (20% ach), and Mabni Cop. of Japan

(10%). Constction of th Peru LNG plant, which wold hav

th capacity to podc 4.4 million mtic tons p ya (Mt/y)

of LNG, contind on schdl, with initial dlivy of LNG

pojctd fo mid-2012. Th total pojct cost was stimatd to

be about $3.8 billion, which included nancing costs (Camisea

Pojct, 2011; PoInvsinPivat Invstmnt Pomotion

Agncy in P, 2011).

Minerals in the National Economy

Th combind val of th mining and hydocabon sctosdcasd by 0.1% in 2010 compad with a small incas

of 0.6% in 2009. The decrease reected the lower rates of

xtaction of pcios mtals (gold and silv) and bas mtals

(copp, lad, and zinc), pls tin, althogh it was patially offst

by incasd podction of ion and molybdnm in spons

to th gowing dmand of Asian makts. Consqntly,

podction in th mining scto dcasd by 4.9% bt was

offst by incasd podction in th hydocabon scto of

29.5% compad with an incas of 16.1% in 2009. Fo th

dcad 2001 thogh 2010, annal gowth fo th two sctos

combind avagd 5.3%. Th minal scto mployd 135,673

popl in 2010 compad with 125,603 in 2009; this did not

incld th naly 62,000 activ infomal mins (tabl 1; BancoCntal d rsva dl P, 2011, p. 2829; Lna, 2011, p. 43;


Government Policies and Programs

Ps laws with spct to domstic and foign invstos

contind to b govnd by sch constittional mandats as

Lgislativ Dc No. 662 (pomotion of foign invstmnt),

which allows invstos nstictd accss to all conomic

sctos; Lgislativ Dc No. 757 (famwok fo th

dvlopmnt of pivat invstmnt), which ptains to pivat

invstmnt gowth; and Lgislativ Dc law No. 868 of May

1996 (Texto Unico Ocial) as approved by Supreme DecreeNo. 059-96-PCM, which pomots pivat invstmnt in pblic

infastct and tility woks. Within th famwok of Dc

law No. 708 of Novmb 1991 (pomotion of invstmnt

in mining), Lgislativ Dc law No. 818 of Apil 1996

(incntivs fo invsting in natal socs), and Spm

Dc law No. 162-92-eF of Octob 1992 (ls gaanting

foign invstmnt), mo than 250 domstic stability and

gaant contacts had bn signd sinc 1993 (Banco Cntal

d rsva dl P, 2011, p. 97; Lna, 2011, p. 45; Ministio

d enga y Minas, 2011a, p. 4469; 2011c).

Spm Dc law No. 014-92-eM of Jn 1992 (th

general mining law) and the Texto Unico Ocial provide

gaantd potctions to mining vnts and contacts

nd th Pvian Civil Cod. Consqntly, sch vnts

and contacts a immn fom nilatal changs by any

govnmntal athoity in P withot an appopiat lgal

o administativ mdy o abitation by th Convnio

Constittivo dl Cnto Intnacional d Aglo d

Difncias rlativas a Invsions [Fomal Consnt of th

Intnational Cnt fo Sttlmnt of rlativ Diffncs

on Invstmnts] (Banco Cntal d rsva dl P, 2011,

p. 104105).


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P nactd Spm Dc law No. 047-2002-eF of

Apil 2002 (impot dtis fo capital goods) to dc th dtis

paid to 7% fom 20% and 12% on capital goods to b sd in

xploation and podction of ctain minals, sch as oil and

gas in th Amazon gion. Law No. 27623-eF was nactd in

Janay 2002 to liminat th 18% sals tax on capital goods

and svics fo minal xploation. Spm Dc law

No. 015-2004-PGM of Janay 2004 (lgal famwok fo

dcntalization) was stablishd to s vns fom minal

podction to maximiz th wll-bing of th local commnitisthogh conomic gowth, nvionmntal potction, and

social dvlopmnt in a sstainabl way. Spm Dc

law No. 066-2005-eM of May 2006 (lgal famwok fo

cation of th Diccin d Gstin Social) was stablishd to

administ th copoat social sponsibility pogam in th

mining scto (Banco Cntal d rsva dl P, 2011, p. 104;


Th Pvian Constittion stablishs qal potction fo

domstic and foign invstos who nt into agmnts with

th Govnmnt. Hydocabon law No. 26844 of May 1997

liminatd th xclsiv ights of stat-ownd Ptop to

control the secondary recovery of crude oil, rening, and

impots and sbsqnt sal of ptolm and bypodcts. ThPvian laws hav attmptd to ns mo-favoabl minals

and cd oil and gas xploation and podction contact tms

fo invstos (Ministio d enga y Minas, 2011a, p. 1217;

2011d; PoInvsinPivat Invstmnt Pomotion Agncy in

P, 2011).

Lgal pocds to obtain mining ights w mad asi by

th nactmnt of complmntay lgislation Spm Dc

law No. 018 of Jly 9, 1992. Th Govnmnt linqishd

its xclsiv managmnt of xploation, mining, smlting,

and rening of metals and fuel minerals. Individuals and

pivat companis a allowd to hold mining pmits in

P. In th lgal famwok fo invstmnt and taxation, no

distinction is mad among domstic and foign invstos,and consotia, copoations, and joint vnts fomd in P

o aboad. Mnicipalitis and rgional govnmnts in aas

wh minal socs (mtals and indstial minals) a

xploitd civ 50% of th taxs collctd to b invstd in

dcation and social pogams (halth, hosing, and oths)

in confomanc with th Canon Mino (Ministy rsoltion

No. 266-2002-eF/15 of May 1, 2002). Th mittanc of

dpciation, dividnds, and oyaltis aboad has no stictions.

Contacts can b signd by invstos, and th Govnmnt

gaants th stability of lgal commitmnts and taxs.

To incas potction of invstos intsts, P signd

agmnts with th Wold Banks Mltilatal Invstmnt

Gaant Agncy in Apil 1991, which was athoizd by

Lgislativ Dc law No. 25312, and with th Ovsas

Pivat Invstmnt Cop. in Dcmb 2002, which was

athoizd by Lgislativ Dc law No. 25809 (Ministio

d enga y Minas, 2011c; PoInvsinPivat Invstmnt

Pomotion Agncy in P, 2011).

Th Diccin Gnal d Asntos Ambintals (DGAA) of

th Ministio d enga y Minas (MeM) has th sponsibility

to addss nvionmntal poblms that slt fom ngy

and mining activitis and is mandatd to implmnt th

laws and glations of th nvionmntal lgal famwok,

sch as Lgislativ Dc No. 613 of Sptmb 1990 (th

nvionmntal cod) and Spm Dc No. 016-93-eM of

Apil 28, 1993 (th nvionmntal glation). Th sstainabl

dvlopmnt modl fo th mining and ngy sctos bgan in

1993 with glations and pocds fo th gadal dction

of polltion, which incld conomic dvlopmnt policis and

nvionmntal potction. Th mining indsty mst comply by

adjusting its ongoing operations to permissible efuent levels

and its nw opations by sing clan tchnologis (Ministiod enga y Minas, 2011c; PoInvsinPivat Invstmnt

Pomotion Agncy in P, 2011).

Th DGAA valats and poposs th nvionmntal

glations fo th mining and ngy sctos, which incld

th maximm mission lvls that a compatibl with th

intnationally accptd limits st by th unitd Nations and th

Wold Bank, appovs nvionmntal impact assssmnts fo

nw opations and nvionmntal adjstmnt and managmnt

pogams fo ongoing ons, and administs th national

nvionmntal infomation systm. Th MeM is athoizd

to manag nvionmntal affais in th minal scto, sch

as by stablishing th nvionmntal potction policy and

maximum allowable levels for efuents, signing environmentaladministativ stability agmnts, ovsing th

nvionmntal ffct of opations, dtmining sponsibilitis,

and imposing administativ sanctions. Th oil companis,

in paticla, w nd pss bcas th nmb of

opations in th Amazon rain Foston of th wolds most

snsitiv cosystmswas incasing (Ministio d enga

y Minas, 2011c; PoInvsinPivat Invstmnt Pomotion

Agncy in P, 2011).

Production

In 2010, incass in minal podction w ld by

molybdnm (37.9%) and ion (36.7%); dcass in minalpodction incldd lad (13.4%), gold (10.8%), tin (9.7%),

silver (7.2%), zinc (2.8%), and copper (1.7%); signicant

production decreases in rened products were led by silver

(65%), lad (13.4%), and copp (7%); and no podction was

potd fo antimony, asnic, bismth, indim, and tllim.

Ths minal otpt dcass w xpctd to b vsd

in spons to th gowing dmand of Asian makts and to

mtal pic incass in th na ft. Mtal pics in 2010

compad with thos of 2009 incasd fo tin (by 50.5%),

copp (46.6%), silv (37.5%), zinc (30.8%), gold (25.8%),

and lad (25.3%). Th hydocabon sctos otpt incasd by

29.5% owing to th incasd xtaction of natal gas mostly at

Camisa. Cd oil otpt incasd by 30.2%; it was xpctd

to contin to incas in th na ft owing to th 30 nw oil

xploation and long-tm podction contacts signd in 2010

(tabl 1; Banco Cntal d rsva dl P, 2011, p. 2829;

Ministio d enga y Minas, 2011b, ).

Structure of the Mineral Industry

Th stct of th Pvian minal indsty contind

to chang owing to th stablishmnt of consotia in sch


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dglatd indstis as ptolm and natal gas, and of joint

vnts in ngy and mining pojcts. Incasd nmbs of

domstic and foign companis a paticipating in pospcting,

xploation, podction, and tad of minals, natal gas, and

ptolm. Foign companis contacting with Ppto in th

ngy scto and with th stat agncy Cntomn P S.A. in

th minal scto incldd Anglo Amican and BHP Billiton

plc of th unitd Kingdom; Sllidn Gold Cop. Ltd. and Tck

Cominco Ltd. of Canada; Hnt Oil Co. and Nwmont Mining

Cop. of th unitd Stats; Mabni Cop., Mitsbishi Cop.and Mitsi & Co., Ltd. of Japan; Shogang Cop. and Zijin

Mining Gop of China; Pols S.A. of Mxico; SK engy

Co. Ltd. of th rpblic of Koa; rpsol YPF of Spain; Val

S.A. and Gpo Votoantim Mtais S.A. of Bazil, and Xstata

Plc. of Switzland (tabl 2; Ministio d enga y Minas,

2011a, p. 5051; 2011c).

Aft 7 consctiv yas of xpansion, th podction

of hydocabons incasd by 29.5% in 2010. This gowth

sltd pimaily fom th incasd podction of natal gas

(12.4%), which was associatd with th initiation of Plsptols

xpots of gas fom lot 56 in Jn aft th gas was pocssd

in th Mlchoita plant, which was opatd by P LNG (a

consotim intgatd by Hnt Oil, rpsol YPF, SK Cop., andth Mabni Co. of Japan). In 2010, this consotim signd an

agmnt with th Govnmnt to bild a $3.8 billion natal

gas liqfaction plant 169 km soth of Lima to allow xpots of

Camiseas liqueed natural gas (table 2; Ministerio de Energa

y Minas, 2011a, p. 5051; 2011c; PoInvsinPivat

Invstmnt Pomotion Agncy in P, 2011).

Pivat domstic intsts ownd most of th mdim- and

small-sizd mining opations. Mo than 300 foign mining

companis had bn stablishd in P sinc 1990. Cd oil

was tanspotd thogh th contys 1,754 kilomts (km) of

piplin; natal gas and natal gas liqids, thogh 983 km of

dual pipeline; and rened products, through 13 km of pipeline.

Pots that w impotant to th minal indsty inclddCallao, Chimbot, Ilo, Mataani, Paita, Pto Maldonado,

Salaverry, San Martin, San Nicolas, and Talara on the Pacic

Ocan, and Iqitos Pcallpa and Yimagas on th Amazon

riv and its tibtais. P had an installd lcticity-

gnating capacity of 5,050 mgawatts (MW), abot 90% of

which was in hydolctic plants. Th ngy mix, by soc,

was hydolctic (79%), fossil fl (20%), and oths (1%)

(Ministio d enga y Minas, 2011a, p. 8283; 2011d, ;

u.S. Cntal Intllignc Agncy, 2011).

Mineral Trade

In 2010, Ps xpots amontd to abot $35.6 billion,

which was 31.9% high than that of 2009, and its impots

amontd to mo than $28.8 billion, which was 37.1% high

than that of 2009. Th contys total tad balanc codd a

spls of abot $6.8 billion compad with $5.9 billion in 2009.

Ps mining scto accontd fo mo than $21.7 billion

of total xpot vns in 2010 compad with almost

$16.4 billion of total xpot vns in 2009. In 2010, Ps

ptolm and divativs scto accontd fo abot 8.7%

($3.1 billion) of total xpot vns compad with abot

7.1% ($1.9 billion) of total xpot vns in 2009. In Jn

2010, P statd xpoting natal gas, which amontd to

$284 million; th lading dstinations fo th natal gas xpots

w Spain ($87 million), th unitd Stats ($57 million), and

th rpblic of Koa ($44 million), among oths. Ps

impots of cd oil and lbicants amontd to $2.9 billion

in 2010 compad with $5.2 billion in 2009 (Banco Cntal d

rsva dl P, 2011, p. 6263; Lna, 2011, p. 3; Ministio

d enga y Minas, 2011a, p. 89).

In 2010, th unitd Stats and China contind to b Pslading tading patns. Th dstination makts of Pvian

xpots as a pcntag of total xpots w th unitd Stats

(16.9%), China (15.4%), Switzland (10.9%), Canada (9.4%),

Japan (5.1%), Gmany (4.3%), Chil (3.9%), and Spain

(3.4%), among oths. Ps lading impot patns w th

unitd Stats (19.2%), China (16.7%), Bazil (7.3 %), ecado

(5.0%), Chil (3.9 %), and Colombia and Japan (4.5% ach),

among oths. Th unitd Stats, China, Bazil, Japan, and

Chil, in od of th val of th commoditis impotd,

w th main impots of gold, copp, and molybdnm.

P sold abot 11% of its xpots to oth mmbs of th

Mcado Comn Andino (ANCOM), whos mmbs w

Bolivia, Colombia, ecado, P, and Vnzla; abot 3.1%to th Mcado Comn dl Cono S (MerCOSur) contis

of Agntina, Bazil, Paagay, and ugay and associat

mmbs Bolivia and Chil; and 14.3% to oth Latin Amican

contis (Banco Cntal d rsva dl P, 2011, p. 6364;


Commodity Review

Metals

Copper.In 2010, th pic of copp incasd as a slt

of th covy of global conomic activity. Th avag pic

of copp incasd by 46.6% compad with that of 2009 to$3.4 p pond aft aching a cod of $4.4 p pond in

Dcmb. This pic incas was associatd with gowing

tightnss in th copp makt owing to th incasd dmand

by mging conomis and also to spply constaints in som

podcing contis. P podcd 1.1 million mtic tons (Mt)

of copp (C contnt) in 2010, which was almost th sam

amont as in 2009. With this lvl of podction, th conty

maind th wolds scond ankd podc (bhind Chil),

acconting fo almost 8% of wold podction. Th contys

copp mtal xpots in 2010 totald abot 1.25 Mt and w

vald at abot $8.9 billion compad with 1.24 Mt vald at

mo than $5.9 billion in 2009; this naly 51% incas in val

compad with that of 2009 was owing to th incas in th pic

of copp to $3.21 p pond in 2010 fom $2.16 p pond in

2009 (Banco Cntal d rsva dl P, 2011, p. 29, 31, 251;

Ministio d enga y Minas, 2011a, p. 2122, 35; 2011b).

Owing to Chinas incasd dmand fo copp, th Chins

rm Aluminium Corp. of China (Chinalco) was planning to

dvlop th Toomocho dposit, which contains 1.4 billion

mtic tons (Gt) of povn and pobabl svs at a gad of

0.71% copp qivalnt, and to podc 275,000 mtic tons

p ya (t/y) of copp mtal by 2013. Consocio Xiamn


6/15


Zijin Tonggan Invstmnt Dvlopmnt Co. Ltd. (Zijin Mining

Gop) of China was also planning to dvlop th rio Blanco

copp pojct, which is locatd in th Dpatmnt of Pia and

contains 1.3 Gt of povn and pobabl svs at a gad of

0.57% copp qivalnt, to podc 25 Mt/y of copp o by

2015 (Lna, 2011, p. 29, 43, 48; Ministio d enga y Minas,

2011a, p. 50).

In 2010, Ps plannd invstmnts of abot $42.5 billion

incldd minal pojcts with advancd xploation, fasibility

stdis, and xpansion wok. Mo than 66.5% ($28.2 billion)of th plannd invstmnts w fo copp pojcts, sch

as Las Bambas ($4.2 billion) and Los Chancas ($1.2 billion)

copp dposits, which a locatd in th Dpatmnt of

Apimac and w ownd by Xstata and Sothn Copp,

spctivly. Oth invstmnts in copp dposits incldd th

patnship of China Minmtals Cop. and Jiangxi Copp Co.,

Ltd. of China, which had acqid 93.9% intst in Nothn

P S.A.s Galno copp pojct in Clndin, Dpatmnt

of Cajamaca. Th stimatd invstmnt in th Galno copp

pojct (which has svs of 803 Mt at a gad of 0.63%

copp qivalnt) was $2.5 billion to podc copp mtal

by 2014. Sothn Copp was planning to invst $600 million

in additional exploration and to improve efciencies at theCajon and th Toqpala copp mins by 2012 and to invst

$950 million in its Tia Maa copp pojct, which is locatd in

th Dpatmnt of Aqipa, to podc 120,000 t/y of copp

mtal by 2015. Oth invstmnts incldd an invstmnt of

almost $15 billion to xplo 13 copp dposits locatd in

th Dpatmnts of Ancash, Aqipa, Apimac, Cajamaca,

Csco, Hancavlica, La Libtad, Lambayq, and Moqga

btwn 2011 and 2016; Xstata Copps invstmnt of

$1.5 billion in th Antapaccay copp dposit in Csco; and

rio Tintos invstmnt of $1.0 billion in La Ganja copp

dposit in Cajamaca (Banco Cntal d rsva dl P, 2011,

p. 29, 31, 251; Lna, 2011, p. 41, 43, 48; Ministio d enga

y Minas, 2011a, p. 51).Gold.In 2010, gold otpt was abot 164.1 mtic tons (t)

compad with almost 184 t in 2009, which was a dcas

of abot 10.8%. This dcas was owing to th dcas in

gads of o at Mina Yanacocha and by dcasd podction

by Baick Gold Cop. of Canada, also owing to th low

podction in its nits at Alto Chicama and Piina. Th fom

nit had dclining podction bcas th mins svs

w naly dpltd. Ps gold xpots in 2010 totald abot

196 t (6.3 million toy oncs) vald at abot $7.8 billion

compad with abot 218 t (7.0 million toy oncs) vald

at abot $6.8 billion in 2009, which was an incas in val

of mo than 14.7%. In 2010, Ps plannd invstmnts of

abot $5.8 billion w xpctd to incld minal pojcts

with advancd xploation and nvionmntal assssmnt wok

fo gold, sch as Mina Yanacochas Pita cianation plant

at Yanacocha Min ($270 million), its pojct at Chaqicocha

($400 million), and its Minas Conga pojct ($3.5 billion)

in th Dpatmnt of Cajamaca, which was xpctd to b

compltd by 2015; Bnavntas Tantahatay gold dposit

($56 million) in th Dpatmnt of Cajamaca, which was

xpctd to b compltd by 2012; and Baicks Lagnas Not

gold dposit ($400 million) in th Dpatmnt of La Libtad,

which was xpctd to b compltd by 2012 (Banco Cntal d

rsva dl P, 2011, p. 2930, 251; Lna, 2011, 41, 43, 45;


Of th total gold otpt in 2010, lag-, mdim-, and

small-scal podcs potd podction of abot 145.1 t of

gold, and an nknown nmb of gold placs and infomal

individal mins potd podction of almost 19 t of gold.

Placs accontd fo abot 11.6% of th gold podcd in th

conty. Th sothastn Ands had wll-known gold placs

on th Inambai riv and its tibtais. Plac gold waspodcd mostly in th Inca and th Maiatgi rgions and

fom ivs and stams thoghot th jngl (Banco Cntal

d rsva dl P, 2011, p. 2930; Ministio d enga y

Minas, 2011a, p. 24, 51).

Iron Ore.Shogang Hio P S.A.A. (a sbsidiay of

Chinas Shogang Cop.) contind to b Ps sol ion o

podc (xclsivly fom th Macona ion o min in th

Dpatmnt of Ica). Min otpt incasd to mo than 6.1 Mt

of ion contnt in 2010 fom almost 4.5 Mt in 2009, o a 36.7%

incas owing to incasd dmand fom China. In 2010, ion

o xpots incasd to 7.7 Mt in 2010 fom 7 Mt in 2009 at a

val of $623 million compad with $299 million in 2009, o

an incas in val of mo than 108%. This incas in thval of ion o was in spons to high pics ($67.6 p

mtic ton in 2010 and $42.6 p mtic ton in 2009). In 2010,

Ps plannd invstmnts of abot $6.6 billion w xpctd

to incld minal pojcts with advancd xploation and

nvionmntal assssmnt wok and xpansion fo ion, sch

as Shogangs Macona Min xpansion ($1.0 billion) in th

Dpatmnt of Ica, which was compltd in 2011; Chinas

Nanjinzhao Gop Pampa d Pongo ion pojct ($3.3 billion)

in th Dpatmnt of Aqipa, which was xpctd to b

compltd by 2012; Stik rsocs Inc. of Astalias

xploation of th Apimac ion o dposit ($2.3 billion), with

plans to stat opations by 2015; and Cvo rsocs Inc.

of Canadas xploation of th Co Ccopan and th Hillqion o dposits, which a locatd in th Dpatmnt of Csco

(Banco Cntal d rsva dl P, 2011, p. 34, 251; Lna, 2011

p. 45, 47, 48; Ministio d enga y Minas, 2011a, p. 29, 51).

Lead, Silver, and Zinc.Th podction of lad contnt

dcasd to 261,978 t in 2010 fom 302,459 t in 2009, o a

dcas of 13.4%, mainly as a slt of low podction in

el Bocal and th Volcan lad mins. expots of lad amontd

to 770,000 t vald at $1.58 billion in 2010 compad with

681,400 t vald at $1.12 billion in 2009; pics incasd to

$0.930 p pond in 2010 fom $0.743 p pond in 2009. Th

podction of silv contnt in 2010 dcasd to 3,640 t fom

3,923 t in 2009, o a dcas of 7.2%. Dspit this dcas,

P was th wolds lading podc of silv, acconting

fo 16.7% of wold podction. P spassd Mxicos and

Chinas silv otpt of 3,500 t and 3,000 t, spctivly, in

2010. Th xpot val of silv amontd to $118 million in

2010 compad with $214 million in 2009; pics incasd to

$19.2 p toy onc in 2010 fom $13.2 p toy onc in 2009

Th Pvian zinc indsty podcd abot 1.47 Mt of zinc in

concntats in 2010 compad with abot 1.51 Mt in 2009, o

a dcas of 2.8%. Th val of xpots of zinc amontd to

abot $1.7 billion in 2010 compad with almost $1.2 billion


7/15


in 2009; pics incasd to $0.585 p pond in 2010 fom

$0.408 p pond in 2009 (Banco Cntal d rsva dl P,

2011, p. 2932, 251; Ministio d enga y Minas, 2010a,

p. 2529, 35, 51).

Tin.Podction fom Minss San rafal Min, which is

locatd in th Maiatgi rgion, was 33,848 t in concntat in

2010 compad with 37,503 t in 2009. Minss tin smlting and

rening operations, which are located in Pisco, south of Lima,

podcd 36,451 t of mtal in 2010 compad with a visd

34,388 t in 2009. P contind to b th lading tin podcin Latin Amica followd by Bolivia and Bazil. Mins, which

was th only flly intgatd tin sppli in P, podcd

mo than 14% of th wolds otpt and xpotd 33,500 t

vald at $663 million in 2010 compad with 38,000 t vald

at $479 million in 2009; pics incasd to $8.977 p pond in

2010 fom $5.715 p pond in 2009 (Banco Cntal d rsva

dl P, 2011, p. 29, 251; Ministio d enga y Minas,

2011a, 29, 35).

Industrial Minerals

Phosphate Rock.Val S.A. (Val) of Bazil was planning

an xpansion of its Bayova opn pit in Scha ($300 million)in th Dpatmnt of Pia, which was to b compltd in

2012. In 2010, Val changd th empsa Mina rgional

Ga Bayva S.A.s nam to Ca. Mina Miski Mayo S.A.C.

(CMM). In 2010, CMMs phosphat dposits (Bayova pojct)

podcd abot 48,500 t of phosphat ock, which was almost

28% mo than in 2009. Th 90,000-t/y ftiliz plant that was

opatd by CMM podcd an stimatd 21,800 t of phosphat

(P2O

5) in 2010. CMMs Bayova opn pit containd a sv

bas of 240 Mt of phosphat with a podction capacity of

4 Mt/y of phosphat concntat with a minimm gad of 30%

P2O

5, which wold b sd to podc ftilizs. In 2010, Val

statd xpoting phosphat ock to Bazil, India, Mxico, and

th unitd Stats (Lna, 2011, p. 45; Ministio d enga yMinas, 2011a, p. 30; Val S.A., 2011).

Mineral Fuels

Coal.Ps lagst coal dposits a locatd at Alto

Chicama in La Libtad Dpatmnt. Oth known coal dposits

occ in th Cnca dl Santa in th Maaon rgion and

th coal basins of Goyllaisqizga and Hatn Hasi in th

Cacs rgion of cntal P. In 2010, Ps covabl

coal svs w stimatd to b 1.1 Gt, and coal podction

was 91,960 t compad with 142,089 t in 2009; th stimatd

consmption of coal was mo than 1.3 Mt/y and impots w

abot 1.2 Mt/y and cam mostly fom Colombia (tabls 1, 3;

Ministio d enga y Minas, 2011a, p. 3031; u.S. engy

Infomation Administation, 2011).

Natural Gas and Petroleum.In 2010, Ps covabl

(povn and pobabl) and possibl socs of cd oil

were estimated to be 6,000 million barrels (Mbbl); of liqueed

natal gas (LNG), 1,337 Mbbl; and of natal gas, 881 billion

cubic meters. The leading gaselds were the Aguaytia, which

is locatd abot 41 km wst-nothwst of Pcallpa, ucayali

Dpatmnt, and had povn svs of 8.5 billion cbic

mts of gas and 9 Mbbl of natal gas liqids (NGL) and th

Camisea gaselds in the Ucayali Basin, Cusco Department,

which had povn svs of 250 billion cbic mts of gas

and 411 Mbbl of NGL. Natal gas podction incasd to

3,904 million cbic mts in 2010 fom 3,474 million cbic

mts in 2009. Plsptol S.A. of Agntina maind th majo

podc, acconting fo 77.7% of th domstic podction,

followd by Agaytia S.A. of P (11.0%), Ptlo Basilio

S.A. (Ptobs) of Bazil (5.5%), and oths (5.8%) (Camisa

Pojct, 2011; Ministio d enga y Minas, 2011;u.S. engy Infomation Administation, 2011).

Th Camisa Pojct ncompasss th sgmnts

upstam, Tanspotation, and Distibtion of natal gas fom

the Camisea eldand is located in the Ucayali Basin in the

Dpatmnt of Csco. P had civd an invstmnt of

$1.1 billion to implmnt th th sgmnts in 2009. Plsptol

was planning to invst abot $3.0 billion in Camisas natal

gas pojct by 2013 (Camisa Pojct, 2011; Ministio d

enga y Minas, 2011).

In 2010, cd oil podction incasd to abot

92,500 bals p day (bbl/d) fom abot 71,000 bbl/d in

2009. Podction of ptolm divativs incasd to abot

204,400 bbl/d fom a visd 190,950 bbl/d in 2009. Pimpotd an avag of 99,500 bbl/d of cd oil and ptolm

podcts to satisfy its intnal consmption of 157,000 bbl/d.

Ps total cd oil podction of 33.8 Mbbl in 2010 cam

fom Plsptol (42%), Ptobs (19%), Ptotch (16%), and

oths (25%) (tabl 1; Banco Cntal d rsva dl P, 2011,

p. 3436; Ministio d enga y Minas, 2011; u.S. engy

Infomation Administation, 2011).

In 2010, the largest oil renery in Peru continued to

b La Pampilla, which had a dsignd capacity of abot

110,000 bbl/d. The second largest oil renery was Talara,

which had a dsignd capacity of abot 62,000 bbl/d. Oth

reneries had the following designed capacities: Conchan,

15,500 bbl/d; Iqitos, 10,500 bbl/d; Pcallpa, 3,300 bbl/d;and el Milago, 1,700 bbl/d. Plsptol was planning to bild

the 5,200-bbl/d-capacity Shiviyacu petroleum renery, which

wold b locatd in th Dpatmnt of Loto, by 2013. In 2010

renery production came from La Pampilla (43.3%), Talara

(35.2%), Conchan (15.0%), Iqitos (4.6%), Pcallpa (1.0%),

and Milago (0.9%) (Ministio d enga y Minas, 2011).

Reserves and Resources

Tabl 3 lists th Pvian svs of majo minals, sch

as copp, gold, ion o, lad, molybdnm, silv, and zinc,

as of abot Janay 1, 2011. Data a shown in tms of mtal

containd in o fo th bas and pcios mtals o covabl

qantitis of oth minal commoditis, which incldd

indstial minals and minal fls. Ths minal svs

psnt povn (masd) and pobabl (indicatd)

catgois and xcld qantitis potd as possibl

(inferred). Reserves are dened as being well delineated and

conomically covabl volms of cd oil and natal

gas fom wlls and minabl o fom mins committd to

podction (u.S. Ba of Mins and u.S. Gological Svy,

1980; Ministio d enga y Minas, 2011).


8/15


Outlook

Accoding to PoInvsin, P contins to b on a path

of stady conomic gowth, which sms to b sstainabl.

Th intnational scnaio in 2010 was makd by conomic

covy in most contis, as wll as by th bginning of

a signicant increase in commodity prices and increased

intnational liqidity. In 2010, in spons to a mo favoabl

intnational nvionmnt and a domstic makt divn by

pivat invstos optimistic xpctations, th minal sctoscontibtion to th GDP of P was a cod 8.8%. Th minal

(mtals, indstial minals, and fls) scto is xpctd

to continue to attract capital ows (2011 through 2015) by

way of nw joint vnts and consotia, pivatizations, and

dict acqisitions. Incasd dmand fo copp, gold, ion

o, and silv, and high mtal pics a likly to ncoag

mining companis to invst in xpanding and modnizing

thi opations. Th liqfaction of Camisas natal gas fo

xpot to China, MerCOSur, and th Noth Amica F

Tad Agmnt (Canada, Mxico, and th unitd Stats), and

to oth makts and tading patns is xpctd to incas

Ps minal commodity xpots fth (Camisa Pojct,

2011; Ministio d enga y Minas, 2011a, p. 51, 2011;PoInvsinPivat Invstmnt Pomotion Agncy in P,

2011; u.S. Dpatmnt of Stat, 2011).

Accoding to th Anaio Mino 2010, Ps conomy

is committd to tad intgation thogh abot 100 mining

companis and invstos, most of thm fom Astalia, Bazil,

Canada, China, th eopan union, Mxico, Switzland,

th unitd Stats, and oths. Ps lgal famwok is

xpctd to contin to b favoabl to foign invstmnts in

the elds of energy, mining, and related industries. Continued

pivatization in th minal scto and invstmnt in vy

scto of th Pvian conomy, paticlaly in th minal and

ngy sctos, a xpctd to gnat additional invstmnts.

The inow of long-term private capital to the mineral sector,which amontd to naly $42.5 billion in 2010, is pojctd to

incas to $52.2 billion in 2011 as incasd fnds a ointd

to nance investment projects (Banco Central de Reserva

dl P, 2011, p. 3435; Camisa Pojct, 2011; Ministio

d enga y Minas, 2011a, p. 51; PoInvsinPivat

Invstmnt Pomotion Agncy in P, 2011).

References Cited

Banco Cntal d rsva dl P, 2011, Annal pot 2010: Banco

Cntal d rsva dl P, 282 p. (Accssd Dcmb 6, 2011, at

http://www.bcp.gob.p/ng-docs/Pblications/Annal-rpots/2010/

Annal-rpot-BCrP-2010.pdf.)

Books, W.e., 2011a, Asnic: u.S. Gological Svy Minal Commodity

Smmais 2011, p. 2021.

Books, W.e., 2011b, Silv: u.S. Gological Svy Minal Commodity

Smmais 2011, p. 146147.

Camisa Pojct, 2011, economa y Finanzas d P: Camisa Pojct. (Accssd

December 13, 2011, at http://economiaynanzasdeperu.blogspot.com/2010/12/

pluspetrol-arma-que-inversion-en.html.)

Calin, J.F., J., 2011a, Bismth: u.S. Gological Svy Minal Commodity

Smmais 2011, p. 3031.

Calin, J.F., J., 2011b, Tin: u.S. Gological Svy Minal Commodity

Smmais 2011, p. 170171.

edlstin, D.L., 2011, Copp: u.S. Gological Svy Minal Commodity

Smmais 2011, p. 4849.

Gog, M.W., 2011, Gold: u.S. Gological Svy Minal Commodity

Smmais 2011, p. 6667.

Gbman, D.e., 2011, Lad: u.S. Gological Svy Minal Commodity

Smmais 2011, p. 9091.Lna H.C., 2011, Peru, Panoama y pojccions dl scto

mino: Ministio d enga y Minas, Jn, 102 p. (Accssd

Octob 27, 2011, at http://www.minm.gob.p/minm/ achivos/

le/Mineria/PUBLICACIONES/PRESENTACIONES/2011/

INVerSIONeS20MINerAS20eN20eL20Peru.pdf.)

Ministio d enga y Minas, 2011a, Anaio Mino 2010: Lima, P,

Ministio d enga y Minas, 129 p.

Ministio d enga y Minas, 2011b, Cotizacions, evolcin histica d

los pcios d los pincipals minals: Ministio d enga y Minas.

(Accssd Dcmb 19, 2011, at http://www.minm.gob.p/dscipcion.php?

idScto=1&idTitla=2309&idMn= sb151&idCatg=639.)

Ministio d enga y Minas, 2011c, Lgislacin Ms rcint:

Ministio d enga y Minas. (Accssd Dcmb 16, 2011, at

http://intant2.minm.gob.p/mmintant/ tamit2/Hoja_Tamit/

TrA_Hoja_Tamit.asp?no_xp=Lgislacin mas cint&tipo=W.)

Ministio d enga y Minas, 2011d, Ly d Actalizacin n Hidocabos:Ministio d enga y Minas, 3 p. (Accssd Octob 30, 2010, at

http://intant2.minm.gob.p/wb/achivos/dgh/lgislacion/ly27377.pdf.)

Ministio d enga y Minas, 2011, Pptoestadstica Ptola, 2010:

Ministio d enga y Minas, 8 p. (Accssd Novmb 17, 2011, at

http://www.minem.gob.pe/minem/archivos/le/Hidrocarburos/publicaciones/

Pblicacions202011/CAPITuLO201V.pdf.)

Polyak, D.e., 2011a, Molybdnm: u.S. Gological Svy Minal Commodity

Smmais 2011, p. 106107.

Polyak, D.e., 2011b, rhnim: u.S. Gological Svy Minal Commodity

Smmais 2011, p. 130131.

PoInvsinPivat Invstmnt Pomotion Agncy in P, 2011, Foign

dict invstmnt: PoInvsinPivat Invstmnt Pomotion Agncy in

P. (Accssd Dcmb 13, 2011, at http://www.poinvsion.gob.p/1/0/

modlos/Jer/ PlantillaStandadsinHijos.aspx? Are=1&PFL=0&Jer=1747.)

Tolcin, A.C., 2011, Zinc: u.S. Gological Svy Minal Commodity

Smmais 2011, p. 188189.u.S. Ba of Mins and u.S. Gological Svy, 1980, Pincipls of a

resource/reserve classication for minerals: U.S. Geological Survey

Cicla 831, 5 p.

u.S. Cntal Intllignc Agncy, 2011, P, in Th wold factbook:

u.S. Cntal Intllignc Agncy, Novmb. (Accssd Dcmb 13, 2011,

at https://www.cia.gov/libay/ pblications/th-wold-factbook/gos/

p.html.)

u.S. Dpatmnt of Stat, 2011, P: u.S. Dpatmnt of Stat backgond

not, Novmb. (Accssd Dcmb 13, 2011, at http://www.stat.gov//pa/

i/bgn/35762.htm.)

u.S. engy Infomation Administation, 2011, P: u.S. engy Infomation

Administation conty analysis bif, Apil. (Accssd Dcmb 13, 2011,

at http://www.eia.gov/countries/cab.cfm?ps=PE.)

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Dcmb 23, 2011, at http://www.val.com.b/n-s/o-q-fazmos/

minacao/potassio/pags/dfalt.aspx.)


9/15


2006 2007 2008 2009 2010p

Antimony, mtal 691 590 531 145 --

Asnic, whit2 4,399 4,321 4,822 301 --

Bismth, mtal 1,081 1,114 1,061 423 --

Cadmim, mtal 416 347 371 289 357Copp:

Min otpt, C contnt 874,602 1,018,155 1,107,789 1,113,454 1,094,162

Mtal:

Smlt 322,188 236,809 306,584 325,788 312,968

rfind, pimay:

elctowon 173,871 172,118 160,078 162,795 153,022

elctolytic 333,839 237,719 303,855 260,618 240,616

Total 507,710 409,837 463,933 423,413 393,638

Gold:3

Mins kilogams 187,026 153,863 163,162 166,780 145,085

Placs do. 15,800 16,373 16,708 17,215 18,975

Total do. 202,826 170,236 179,870 183,995 164,060

Indim do. 6,000 5,000 6,000 2,000 --

Ion and stl:

Ion o and concntat:

Goss wight thosand mtic tons 7,138 7,614 7,823 6,698 9,160

F contnt do. 4,939 5,186 5,244 4,490 6,140

Mtal:

Pig ion do. 330 330 330 330 330

Spong ion do. 80 80 80 80 80

Fosilicon 600 600 600 600 600

Stl:

Cd 750,000 750,000 750,000 750,000 750,000

Ingots and castings thosand mtic tons 510 510 510 510 510

Smimanfacts 250 250 250 250 250

Lad:

Min otpt, Pb contnt 313,332 329,165 345,109 302,459 261,978

Mtal 120,311 116,774 114,259 26,599 23,039

Mangans, min otpt, Mn contnt 200 200 200 200 200

Molybdnm, min otpt, Mo contnt 17,209 16,787 16,721 12,297 16,963

Slnim, mtal, find kilogams 75,390 60,000 60,000 61,000 59,000

Silv:

Min otpt, Ag contnt 3,471 3,501 3,686 3,923 3,640

Mtal, find 1,296 1,203 1,190 445 156

Tllim, mtal kilogams 37,000 35,000 28,000 7,000 --

Tin:

Min otpt, Sn contnt 38,470 39,019 39,037 37,503 33,848

Mtal4 40,495 36,004 38,865 34,388 36,451

Tngstn, mtal5 128 366 456 634 716

Zinc:

Min otpt, Zn contnt 1,203,364 1,444,381 1,602,597 1,512,931 1,470,450

Mtal 175,250 162,375 190,324 149,494 223,112

Bait 1,499 27,368 45,199 27,881 27,875

Boon matials, cd (boats) -- 233,991 349,891 187,221 187,200

Cmnt, hydalic thosand mtic tons 5,782 6,208 6,862 8,100 8,100

Chalk 201,000 334,688 463,134 321,012 325,000

Clays:

Bntonit 27,106 21,451 31,557 119,452 119,495

Fi clay 6,000 6,000 6,000 6,000 6,000

TABLe 1

Peru: PrODuCTION OF MINerAL COMMODITIeS1

(Mtic tons nlss othwis spcifid)

Commodity

MeTALS

INDuSTrIAL MINerALS

S footnots at nd of tabl.


10/15


2006 2007 2008 2009 2010p

ClaysContind:

Kaolin 5,049 4,772 13,215 9,655 9,347

Common clay 948,617 2,183,804 1,720,838 2,020,623 1,983,771

Diatomit 35,100 21,603 12,206 9,946 10,500Fldspa 9,280 15,450 13,333 5,154 5,006

Gypsm, cd 151,000 334,688 335,000 335,000 321,012

Lim 215,500 6 216,000 216,000 216,000 216,000

Nitogn, N contnt of ammonia 5,000 5,000 5,000 5,000 5,000

Phosphat ock:

Cd, goss wight 38,000 38,000 38,000 38,000 38,000

P2O5 contnt 17,0756 17,100 17,100 17,100 17,100

Salt, all typs 922,000 1,185,273 1,276,271 1,567,279 1,570,000

Ston, sand and gavl:

Ston:

Dolomit 645 645 645 645 645

Flagston 300,000 300,000 300,000 300,000 300,000

Ganit 2,000 2,000 2,000 2,000 2,000

Limston thosand mtic tons 8,425 6 9,610 6 10,227 6 10,304 6 10,500

Mabl 8,842 6 24,513 6 595 6 338 6 340

Onyx 150 150 150 150 150

Qatz and qatzit (cshd) 40,000 40,000 123,542 3 124,000 124,000

Shll, mal 4,000 4,000 6,210 6,200 6,200

Slat 30,110 6 10,844 6 42,436 6 16,440 6 16,500

Tavtin6 129,805 284,755 231,887 97,852 97,586

Sand and gavl:

Ston (Constction) thosand mtic tons 1,773 2,659 5,798 5,504 5,562

Sand do. 2,042 2,248 2,802 2,891 3,522

Slf, lmntal:

Nativ 100 100 100 100 100

Bypodct of mtallgy 204,000 204,000 204,000 204,000 204,000

Slfic acid, goss wight 623,000 623,000 623,000 623,000 623,000

Talc 20,700 23,096 17,984 13,359 13,296

Coal:

Anthacit, n-of-min 26,717 227,088 65,038 66,244 63,382

Bitminos, n-of-min 2,818 52,050 65,649 75,845 28,578

Total 29,535 279,138 130,687 142,089 91,960

Cok, all typs 10,000 10,000 10,000 10,000 10,000

Natal gas:

Goss million cbic mts 1,775 2,676 3,387 3,474 3,904

Maktd do. 1,003 1,512 1,750 2,003 2,251

Natal gas liqids thosand 42-gallon bals 14,640 14,391 16,671 27,550 30,963

Ptolm:

Cd do. 28,314 28,146 28,027 25,927 33,759

rfiny podcts:

Liqfid ptolm gas do. 2,286 2,363 2,468 2,177 2,424

Gasolin, moto do. 12,777 13,948 13,355 14,713 15,185

Jt fl do. 3,722 4,144 4,416 4,703 5,290

Kosn do. 960 818 598 338 80

Distillat fl oil do. 17,598 19,018 19,519 25,819 24,606

Lbicants do. 423 406 326 331 315

rsidal fl oil do. 14,713 14,669 13,874 10,263 10,124

Asphalt do. 838 930 1,113 1,663 1,841

Oth7 do. 6,988 6,701 7,532 9,689 14,755

Total do. 60,305 62,997 63,201 69,696 74,620

MINerAL FueLS AND reLATeD MATerIALS

Commodity


TABLe 1Contind


INDuSTrIAL MINerALSContind

(Mtic tons nlss othwis spcifid)


11/15


7Inclds finy fl and losss.

estimatd; stimatd data a ondd to no mo than th significant digits; may not add to totals shown.

pPliminay.

rvisd. do. Ditto. -- Zo.

1Tabl inclds data availabl thogh Novmb 30, 2011.

2Otpt potd by Do rn rsocs Cop.

3P's plac gold podction was potd.

4Otpt potd by Mins S.A.'s smlt.


5rpotd fig. Soc: Malaga Inc. (Pasto Bno tngstn min).

6rpotd fig. Soc: Ministio d enga y Minas dl P.

TABLe 1Contind

Annal

Majo opating companis and majo qity owns Location of main facilitis capacity

Antimony mtic tons Do rn rsocs Cop. (pivat, 100%) Smlt at La Ooya, Jnin Dpatmnt 700

Bait Bamin S.A. (pivat, 100%) Santa Cz d Cocachaca, Haochii, NA

Lima Dpatmnt

Bntonit Minals Andinos S.A. (NL Indstis Co., 90%) Vichayal Min, Pia Dpatmnt 9

Bismth mtic tons Do rn rsocs Cop. (pivat, 100%) rfiny at La Ooya, Jnin Dpatmnt 1,000

Cmnt Cmntos Lima S.A. (pivat, 100%) Atocongo Plant, Lima Dpatmnt 3,500

Do. Cmntos Pacasmayo S.A.A. (pivat, 100%) Pacasmayo Plant, La Libtad Dpatmnt 1,000

Do. Cmnto Andino S.A. (pivat, 100%) east Lima Plant, Lima Dpatmnt 800

Do. Cmntos Ya S.A. (pivat, 100%) Ya Plant, Aqipa Dpatmnt 300

Do. Cmntos S S.A. (pivat, 100%) Aqipa Plant, Aqipa Dpatmnt 200

Copp Sothn Copp Cop. (SPCC) (Gpo Mxico, Cajon Min, Moqga Dpatmnt 200

S.A. d C.V., 54.2%; Mamon Cop., 14.2%; Phlps

Dodg Ovsas Capital Cop., 14%; oths, 17.6%)

Do. do. Toqpala Min, Tacna Dpatmnt 170

Do. do. Cocota, Simaona, and Totoal 60

Minslctowon, Tacna Dpatmnt

Do. do. Smlt at Ilo, Moqga Dpatmnt 320

Do. do. rfiny at Ilo, Moqga Dpatmnt 300

Do. Compaa Mina Antamina S.A. (CMA) (BHP Billiton Antamina Min, Hai, Ancash 350

plc, 33.75%; Xstata Copp, 33.75%; Tck Cominco Dpatmnt

Ltd., 22.5%; Mitsbishi Cop., 10%)

Do. do. Antamina concntato, Ancash 1,500

Dpatmnt

Do. Do rn P S.r. Ltda. (pivat, 100%) Cobiza, Hancavlica Dpatmnt 70

Do. do. Smlt at La Ooya, Jnin Dpatmnt 65

Do. do. rfiny at La Ooya, Jnin Dpatmnt 60

Do. Compaa Mina Atacocha S.A. (pivat, 100%) Yanacancha Min, Jnin Dpatmnt 30

Do. Compaa Mina Condstabl S.A. (pivat, 100%) Condstabl Min, Jnin Dpatmnt 20

Do. Glnco Intnational AG (pivat, 100%) Casapalca, Lima Dpatmnt 60

Do. Volcan Compaa Mina S.A.A. (pivat, 100%) San Cistobal, Mah Tnl, and 60

Andaychaga, Jnin Dpatmnt

Do. Ca. Mina San Ignacio d Moococha S.A. (pivat, Yaicocha, Jnin Dpatmnt 60

100%)

Do. Xstata Tintaya S.A. (Xstata plc, 100%) Tintaya Min, Csco Dpatmnt 120

Do. Socidad Mina Co Vd S.A.A. (Fpot-McMoran Co Vd, Aqipa Dpatmnt 270

Copp and Gold Inc., 53.6%; Smitomo Cop. and

Smitomo Mtal Mining Co. Ltd., 21%; Compaa

d Minas Bnavnta S.A.A., 18.5%; oths, 6.9%)

Do. do. elctowon plant at Co Vd, 90

Aqipa Dpatmnt

TABLe 2

Peru: STruCTure OF THe MINerAL INDuSTrY IN 2010

(Thosand mtic tons nlss othwis spcifid)

Commodity



12/15


Annal


Dolomit Mina Baibnt S.A. (pivat, 100%) espanza, Ancash Dpatmnt 25

Gold kilogams Mina Yanacocha S.r.L. (Nwmont Mining Cop., Yanacocha, La Qina, and 110,000

51.35%; Compaa d Minas Bnavnta S.A.A., Maqi-Maqi Mins, Cajamaca

43.65%; Th Wold Bank's Intnational Financ DpatmntCop., 5%)

Do. do. Mina Baick Misqichilca S.A. (Baick Gold Cop., Piina, Cajamaca Dpatmnt 40,000

100%)

Do. do. Compaa Mina Podosa S.A. (pivat, 100%) Podosa, La Libtad Dpatmnt 2,000

Do. do. Compaa d Minas Bnavnta S.A.A. (pivat, 100%) Ocopampa, Aqipa Dpatmnt 5,000

Do. do. Minas Aiaha S.A. (pivat, 100%) Aiaha, La Libtad Dpatmnt 2,000

Do. do. Assoa Contabl Mina S.A. (pivat, 100%) Ocoa, Santa Claita, explatoo, and 1,000

Molino d Oo, Aqipa Dpatmnt

Do. do. Ca. Afa ro Inambai S.A. (Ca. Mina dl S ro Caichiv, Mad d Dios Dpatmnt 200

S.A., 84%, and Afa Cladia, 16%)

Do. do. Mina Afa rtamas S.A. (pivat, 100%) rtamas, La Libtad Dpatmnt 5,500

Do. do. Consocio Mino Hoizont S.A. (pivat, 100%) Pacoy, La Libtad Dpatmnt 4,000

Do. do. Compaa Mina Sipn S.A.C. (pivat, 100%) Sipan, Inca, La Libtad Dpatmnt 4,800

Do. do. Compaa Mina As S.A.C. (pivat, 100%) As, La Libtad Dpatmnt 6,500Do. do. Ca. Mina Afa Santa rosa S.A. (pivat, 100%) Santa rosa, Pno Dpatmnt 5,000

Do. do. Antani S.A.C (pivat, 100%) Floncia and Santa rosa Mins, 6,500

Moqga Dpatmnt

Ion o Shogang Hio P S.A.A. (Shogang Cop., 100%) Macona, Ica Dpatmnt 13,000

Lad Do rn P S.r. Ltda. (pivat, 100%) Smlt at La Ooya, Jnin Dpatmnt 150

Do. do. rfiny at La Ooya, Jnin Dpatmnt 125

Do. empsa Mina Los Qnals S.A. Izcaycz, Lima Dpatmnt 10

Do. do. Yaliyac, Lima Dpatmnt 15

Do. Volcan Compaa Mina S.A.A. (pivat, 100%) San Cistobal, Mah Tnl, and 70


Do. do. Paagsha, Co d Pasco Dpatmnt 85

Do. Compaa Mina San Ignacio d Moococha S.A. Yaicocha, Jnin Dpatmnt 5

(pivat, 100%)

Do. Compaa Mina Atacocha S.A. (pivat, 100%) Yanacancha Min, Jnin Dpatmnt 40Do. Compaa Mina Milpo S.A. (pivat, 100%) el Povni Min, Co d Pasco 25

Dpatmnt

Do. Compaa Mina Santa Lisa S.A. (pivat, 100%) Hanzala Min, Jnin Dpatmnt 40

Do. Socidad Mina el Bocal S.A.A. (pivat, 100%) Colqijica Mins, Co d Pasco 30

Dpatmnt

Do. Cop. Mina No P S.A. (Pan Amican Silv Qivilca, La Libtad Dpatmnt 10

Cop., 100%)

Molybdnm Sothn Copp Cop. (SPCC) (Gpo Mxico, Cajon, Moqga Dpatmnt NA

S.A. d C.V., 54.2%; Mamon Cop., 14.2%; Phlps and Toqpala, Tacna Dpatmnt


Do. Socidad Mina Co Vd S.A.A. (Fpot-McMoran Co Vd, Aqipa Dpatmnt 2

Copp and Gold Inc., 53.6%; Smitomo Cop. and

Smitomo Mtal Mining Co. Ltd., 21%; Compaa

d Minas Bnavnta S.A.A., 18.5%; oths, 6.9%)Natal gas million cbic Plsptol P Cop. S.A. (Plsptol S.A., 36%; Hnt Oil Camisa gas dposit, Csco Dpatmnt NA

mts p day Co., 36%; SK Cop., 18%; Tcptol dl P S.A.C.,

10%)

Do. do. Ptotch dl P S.A. (Ptop S.A., 100%) Pcallpa, Loto Dpatmnt 120

Do. do. Agaytia S.A. (Ptop S.A., 100%) Agaytia gas dposit, ucayali Dpatmnt 80

Do. do. Plsptol S.A. (pivat, 100%) Pcallpa, Loto Dpatmnt 60


Commodity

TABLe 2Contind




13/15


Annal


Ptolm, cd 42-gallon Ptotch dl P S.A. (Ppto, 100%) Onsho Pia Dpatmnt; nothast and 68,000

bals p day cntal jngl aas, Loto Dpatmnt

Do. do. Ptlo Basilio S.A. (Ppto, 100%) Pacific Coast, offsho Pia Dpatmnt 30,000

Do. do. Plsptol S.A. (pivat, 100%) Nothastn jngl, Loto Dpatmnt 90,000Do. do. Occidntal Ptolm Cop. (pivat, 100%) Block 1-AB, nothn jngl, Loto 28,000

Dpatmnt

Ptolm podcts do. rfina La Pampilla S.A. (reLAPASA) rfiny La Pampilla, Lima Dpatmnt 110,000

Do. do. Ptop S.A. rfinis Talaa, Pia Dpatamnt 62,000

Do. do. do. rfiny Conchan, Lima Dpatmnt 15,500

Do. do. do. rfiny Iqitos, Loto Dpatmnt 10,500

Do. do. do. rfiny Pcallpa ucayali Dpatmnt 3,300

Do. do. do. rfiny el Milago, Amazonas 1,700

Dpatmnt

Do. do. Plsptol Not S.A. rfiny Shiviyac, Loto Dpatmnt 5,200

Moqga Dpatmnt

Phosphat ock mtic tons Ca. Mina Miski Mayo S.A.C. (CMM) (Val S.A., 100%) Bayova phosphat min, Pia 90

Dpatmnt

Silica sand Mina Baibnt S.A. (pivat, 100%) Maia and Matin Mins, Jnin 27Dpatmnt

Silv kilogams empsa Mina Los Qnals S.A. Yaliyac, Lima Dpatmnt 150,000

Do. do. do. Izcaycz, Lima Dpatmnt 20,000

Do. do. Do rn P S.r. Ltda. (pivat, 100%) rfiny at La Ooya 1,100,000

Do. do. Co. Mina San Ignacio d Moococha S.A. Yaicocha, Jnin Dpatmnt 46,500

(pivat, 100%)

Do. do. Compaa d Minas Bnavnta S.A.A. Jlcani and Hachocolpa Mins, 350,000

(pivat, 83%, and Cntomn P S.A., 17%) Hancavlica Dpatmnt, and

uchcchaca Min, Lima Dpatmnt

Do. do. Compaa d Minas Bnavnta S.A.A. (pivat, 100%) Ocopampa Min, Aqipa Dpatmnt 161,000

Do. do. Volcan Compaa Mina S.A.A. (pivat, 100%) San Cistobal, Mah Tnl, and 350,000


Do. do. Socidad Mina Coona S.A. (pivat, 100%) Halgayoc, Cajamaca Dpatmnt 175,000

Do. do. Compaa Minas Acata S.A. (pivat, 100%) Acata, Aqipa Dpatmnt 170,000Do. do. Sothn Copp Cop. (SPCC) (Gpo Mxico, Ilo smlting and fining, Moqga 150,000

S.A. d C.V., 54.2%; Mamon Cop., 14.2%; Phlps Dpatmnt


Do. do. Compaa Mina Santa Lisa S.A. (pivat, 100%) Hanzala Min, Jnin Dpatmnt 53,000

Do. do. Compaa Mina Antamina S.A. (CMA) (BHP Billiton Antamina Min, Hai, Ancash 340,000

plc, 33.75%; Noanda Inc., 33.75%; Tck Cominco Dpatmnt


Do. do. Antani S.A.C (pivat, 100%) Floncia and Santa rosa Mins, 14,500

Moqga Dpatmnt

Do. do. Compaa Mina raa S.A. (pivat, 100%) raa, Lima Dpatmnt 54,000

Do. do. Compaa Mina Milpo S.A. (pivat, 100%) Yanacancha, Co d Pasco Dpatmnt 110,000

Do. do. Compaa Mina Atacocha S.A. (pivat, 100%) Yanacancha Min, Jnin Dpatmnt 130,000

Do. do. Socidad Mina el Bocal S.A.A. (pivat, 100%) San Ggoio Min, Co d Pasco 110,000

DpatmntDo. do. Cop. Mina No P S.A. Qivilca, La Libtad Dpatmnt 125,000

(Pan Amican Silv Cop., 100%)

Stl Sid Cop. S.A. (Acco S.A., 49.4%; Gpo Wis, Chimbot, Ancash Dpatmnt 550

49.4%; oths, 1.2%)

Do. empsa Laminadoa dl Pacfico S.A. Pisco, Ica Dpatmnt 180

(Aco Aqipa S.A., 100%)

Tllim mtic tons Do rn P S.r. Ltda. (pivat, 100%) rfiny at La Ooya 12

Commodity


TABLe 2Contind




14/15


Annal


Tin mtic tons Mins S.A. (pivat 100%) San rafal Min and plant, Pno 50,000

Dpatmnt

Do. do. do. Pisco smlting and fining, Ica Dpatmnt 45,000

Tngstn do. Mina rgina S.A. (pivat, 100%) Palca XI, Pno Dpatmnt 1,400Do. do. Fmn Mlaga Santolalla S.A. (pivat, 100%) Pasto Bno, Ancash Dpatmnt 1,000

Zinc Volcan Compaa Mina S.A.A. (pivat, 100%) Co d Pasco, Co d Pasco 320

Dpatmnt; San Cistobal, Mah Tnl,

and Andaychaga, Jnin Dpatmnt

Do. Compaa Mina Antamina S.A. (CMA) (BHP Billiton Antamina Min, Hai, Ancash 325

plc, 33.75%; Xstata Copp, 33.75%; Tck Cominco Dpatmnt


Do. do. Antamina concntato, Ancash 1,500

Dpatmnt

Do. empsa Mina Los Qnals S.A. Pachangaa, Lima Dpatmnt 200

Do. do. Izcaycz, Lima Dpatmnt 40

Do. Compaa Mina San Ignacio d Moococha S.A. Yaicocha, Jnin Dpatmnt 80

(pivat, 100%)

Do. do. San Vicnt Min, Jnin Dpatmnt 70Do. Do rn P S.r. Ltda. (pivat, 100%) rfiny at La Ooya 70

Do. Votoantim Mtais - Cajamaqilla S.A. (Gpo rfiny at Cajamaqilla, Lima Dpatmnt 130

Votoantim Mtais S.A., 99%, and mploys, 1%)

Do. Compaa Mina Atacocha S.A. (pivat, 100%) Yanacancha Min, Jnin Dpatmnt 60

Do. Compaa Mina raa S.A. (pivat, 100%) raa, Lima Dpatmnt 45

Do. Cop. Mina No P S.A. (Pan Amican Silv Cop., Qivilca, La Libtad Dpatmnt 25

100%)

Do. Compaa Mina Santa Lisa S.A. (pivat, 100%) Hanzal Min, Jnin Dpatmnt 50

Do. Compaa Mina Milpo S.A. (pivat, 100%) Yanacancha, Co d Pasco Dpatmnt 80

Do. Socidad Mina el Bocal S.A.A. (pivat, 100%) Colqijica Mins, Co d Pasco 60

Dpatmnt

Do. empsa Administadoa Chnga S.A.C. (pivat, 100%) Animon Min, Co d Pasco Dpatmnt 60


Commodity


Do., do. Ditto. NA Not availabl.

TABLe 2Contind


15/15


rsvs

Coal, all typs 1,100,000

Copp 63,886

Gold mtic tons 2,206 , 2

Ion o 12,482

Lad 7,863

Molybdnm 450

Natal gas billion cbic mts 881

Natal gas liqids million bals 1,337

Ptolm cd billion bals 1,200

Phosphat ock 820

Salt 100,000

Silv mtic tons 67,760

Slf 150,000

Tin 307

uanim 100 3

Zinc 19,984

u.S. engy Infomation Administation, 2011; Ppto S.A., 2011;

TABLe 3

Peru: reSerVeS OF MAJOr MINerALS IN 20101


1Povn svs.

BP Statistical rviw of Wold engy, Jn 2011.

2exclds mtal in plac dposits.

3rcovabl at pics of $100 o lss p kilogam of anim.

Commodity

estimatd; stimatd data a ondd to no mo than th significant digits.

rvisd.

Socs: 2010 and 2011 "Anaio d la Mina dl P" Ministio d

enga y Minas, xcpt fo natal gas and ptolm cd;

the mineral industry of peru

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