Peru climbs rapidly up the ranks of the world gold producers

Engineering and Mining Journal, Apr 2000 by Albareda, Guillermo

INVESTMENT OUTLOOK

Today, Peru is a nation that possesses enormous mining potential. The country, having adapted itself to the current demands of world economy, has created conditions that will faciliate and encourage unprecedented mining development.

In fact, the good conditions established for the development of mining activities in Peru have encouraged the most important foreign mining companies to establish themselves in the country.

The opening of offices in Peru by companies such as AngloGold of South Africa, Barrick and Cambior of Canada, RTZ of the United Kingdom, Billiton of Holland, Broken Hill Proprietary of Australia, and Newmont and BMG of the United States, among others, confirms that Peru has a high ranking for investment potential, particularly in fold.

It must be pointed out that the investment outlook offered by Peruvian mining legislation includes a group of positive factors: low and standard customs tariff rates, total freedom for currency exchange and international market trading, a long-term legal stability system, and international agreements that guarantee foreign investment, such as the MIGA and OPIC.

An excellent opportunity to learn more about growth in these Peruvian markets is being offered by the Fourth International Gold Symposium, an event organized by the SNMPE Gold Committee. It will be held in Lima from May 2-5, 2000.

The main purpose of this fourth meeting is to provide information about Peru's natural resource potential and to contribute to the generation of new investments and business opportunities, not only in Peru, but also throughout the region.

Thus, the Symposium will be a meeting place for those involved in the Latin American gold industry, especially in Peru, and will facilitate the search for strategic partners, business opportunities, and/or financing for gold projects.

The Symposium program includes papers by well-known gold industry executives and experts.

There will be a concurrent exhibition of equipment, products, and services for mining.

More than 1,000 participants are expected to attend this event, including local and foreign executives, bankers, investors, government authorities, suppliers, and mining professionals.

REFERENCES:

(1) Boza, Beatriz. "Peru, a Mining Country: Contribution of the Peruvian Model to APEC and Prospects for Development," SNMPEMonthly Bulletin, No. 5, May 1999.

(2) De Montreuil, Luis Angel. "Mineralogy of Gold Deposits in Peru," Peru Lecture Volume: Second International Gold Symposium, SNMPE Gold Committee, May 1996, page 326.

(3) Plenge, Robert O. "Metallogeny and Gold Prospecting in Peru," Peru Lecture Volume: Second International Gold Symposium, SNMPE Gold Committee, May 1996, page 124.

(4) Apopyo Consultoria, "The Condition and Prospects of the Mining Sector," October 1999.

Guillermo Albareda*

*Attorney, legal and administrative manager of the National Mining, Petroleum, and Energy Society (SNMPE) and executive manager of the Gold Committee. Fax: (511) 460-1616, e-mail: albareda@snmpe.org.pe