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PERUVIAN MINING
Rmulo Mucho
President
Peruvian Institute of Mining Engineers
13 Conferencia Latinoamrica de laEconoma Alemana
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Acuerdo en proceso de negociacin
Acuerdo vigente Acuerdo por entrar en vigencia Acuerdo en proceso de negociacin
Actual agreement Almost actual agreement
TRADE INTEGRATION OF PERU
We have a globalized economy with excellent access to important markets which represents
4 billion people market with a GDP of US$ 56 trillion
Agreement in process
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CONSIDERATION FACTORS FOR MINING INVESTOR
Social conflicts.-
SENACE creation
Prior Consultation
Land Use Planning
Governance
Mining policies
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WE HAVE MINING IN 17 OF 24 REGIONS OF PERU
Of 24 national regions, in 17 of them we have mining activities.
We have an enormous quantity of polymetallic mining resources, with 16% ofmining reserves in the world, with 40 types of metals. It is exploted 16 types ofmetals, 99% correspond to copper, silver, lead, zinc, iron and gold.
Mining exports in 2012 was of US$ 25,067 million that represent 12.5% of GDP and
57% of the total exports. 59% corresponds to gold and copper, and the portfolio of mining projects for the
next 6 years are more than US$ 54 billion.
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PERUVIAN MINING RESOURCES
Metal World Ranking %
Cu 2 13
Au 8 4
Ag 1 22
Zn 3 7.6
Source: USGS
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2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012*
1,5001,320
611 500 1,015 1,086
1,6101,249
1,708
2,822
4,068
7,202
Source: MINEM
INVESTMENT IN MINING(US$ millions)
8.549
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2011 2012 Var. % of December Ao
Dic. Nov. Dic. previousmonth 12 months 2011 2012 Var. %
Traditional products 3353 2787 2757 -1.1 -17.8 35837 34247 -4.4
Fishery 94 116 72 -37.8 -23.0 2099 2292 9.2
Agriculture 228 127 74 -41.7 -67.6 1672 1075 -35.7
Mining 2572 2110 2217 5.1 -13.8 27361 25921 -5.3
Oil and natural gas 459 434 395 -9.0 -14.0 4704 4959 5.4
Nontraditional products 1002 999 968 -3.1 -3.4 10130 11047 9.1
Farning 347 338 345 2.1 -0.6 2830 3047 7.6Fishery 97 70 72 1.5 -26.0 1047 1011 -3.5
Textiles 197 199 174 -12.8 -12.0 1986 2157 8.6
Wood, papers and itsmanufactures
36 38 41 8.1 13.9 398 432 8.6
Chemical 133 137 131 -4.5 -1.6 1645 1624 -1.3Nonmetallic mining 54 63 57 -10.2 5.1 487 716 46.9
Steel-metallurgy and
jewelry90 100 101 0.6 11.6 1128 1253 11.1
Metal-mechanic 36 40 38 -4.7 6.4 464 532 14.7Others 1/ 13 14 11 -20.4 -12.6 145 275 89.6
Others 2/ 29 30 32 6.2 7.8 301 345 14.8
Total exports 4385 3816 3757 -1.5 -14.3 46268 45639 -1.4
PERUVIAN EXPORTS( FOB US$ millions)
1 / Including skins, leather and handicrafts, mainly2 / Includes the sale of fuel and food to foreign vessels and repair of capital goods.Source: SUNAT
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IMPORTANT MINING PROJECTS
InvestmentUS$ Million
Productiont Cu
Start-upOperation
Antapaccay 1,500 160,000 dic-12Antamina (Expansion) 1,300 175,000 dic-12
Toromocho 3,500 275,000 nov-13
Constancia 1,500 80,000 jul-14
Las Bambas 5,200 315,000 dic-14Cerro Verde (Expansion) 4,400 272,000 jul-15
Quellaveco 3,300 225,000 jul-16
Total 20,700 1,502,000
Source: MINEM
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PROJECTION FOR THE NEXT TWO YEARS(US$ MILLION)
INVESTMENT 2013 2014
Expansions 1,322 2,595
New Projects in construction 5,245 3,819
In Exploracin 1,000 1,200
In Production 2,000 2,300Total 9,567 9,914
Source: MINEM
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INVESTMENT US$ MILLION PROJECTION
PROJECTPRODUCTION
YEAR
TOTAL EXECUTEDIN
EXECUTION
2013 2014
EXPANSIONS
Cuajone Expansion 2013 300 180 120 120Lagunas Norte Expansion 2013 400 338 62 62Marcona Expansion 2013 1,200 0 1,200 200Toquepala Expansion 2014 600 305 295 148 148
Bayovar Expansion 2014 520 0 520 150 370Cerro Verde Expansion 2016 4,400 998 3,402 843 1,877
NEW PROJECTS IN CONSTRUCTION
Inmaculada 2013 315 132 183 183Toromocho 2013 3,500 1,681 519 519Alpamarca-Rio Pallanga 2013 90 35 55 55
Invicta 2014 93 0 93 47 47Constancia 2014 1,546 50 1,496 964 191Las Bambas 2014 5,200 1,644 3,556 1,722 1,833Marcobre (Mina Justa) 2015 744 6 738 246 246Quellaveco 2016 3,300 20 3,280 803 796Minas Conga (Stopped) 2014 4,800 1,543 3,257 651 651
Crespo 2014 111 0 111 55 55
PROJECTION FOR THE NEXT TWO YEARS
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PROJECTCOMPANY/COUNTRY
LOCATION MAIN MINERALINVESTMENT
US$ MMSSTART-UP
ANNUALPRODUCTION (t)
Los CalatosMinera Hampton/
AustraliaMariscal Nieto,
MoqueguaCu 2,200 2018 107,000
Caariaco Caariaco Copper /Canada Ferrreafe,Lambayeque Cu 1,599 Stand by 119,000
ZafranalMinera AQM
Copper/CanadaHuancarqui,
ArequipaCu/Au 1,520 Stand by
103,000 Cu30,000 Oz/ Au
GuadalupitoLatin Resources/
Australiancash Fe 620 2015 1.5 - 3.1 mlls. Tm
Accha ExploracionesCollasuyo/Canada
Accha, Cusco Zn/Pb 524 2015 60,000 Zn,40,000 Pb
QuechuaCompaa MineraQuechua/Japan
Espinar, Cusco Cu 490 2014 60,000
NEW MINING PROJECTS IN PERU
Source: IIMP
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PROJECT COMPANY/COUNTRY
LOCATIONMAIN
MINERALINVESTMENTUS$ MILLION
START-UPANNUAL
PRODUCTION (t)
RondoniCompaa MineraVichaycocha/Peru
Cayma, Hunuco Cu 350 2016 50,000
Ollachea
Ca. Minera Kuri
Kullu/Australia Ollachea, Puno Au 170 2014 117,000 Oz
Salmuerasde
Sechura
AmericasPotash/Canada
Sechura, Piura K 125 In Study 250,000
LlamaTY01
Jintong Mining/China
Huancano/ Humay,Ica
Au In Study In StudyIn Study
CercanaJunefield Group/
ChinaYarabamba,
ArequipaCu In Study In Study In Study
CerroCcopane
Minera Cuervo/Canad-Australia
Omacha, Cusco Fe In Study In Study In Study
NEW MINING PROJECTS IN PERU
Source: IIMP
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