Peru Country Commercial Guide
Learn about the market conditions, opportunities, regulations, and business conditions in Peru, prepared by at U.S. Embassies worldwide by Commerce Department, State Department and other U.S. agencies’ professionals.
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Mining Equipment and Machinery
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Overview

With a mining tradition stretching back to pre-Inca civilizations, today the mining industry is integral to Peru’s economy and a key driver of its development. According to the Ministry of Energy and Mines, mining contributed an average of approximately 10 percent to Peruvian GDP between 2021 and 2024. The government is actively working to improve the investment landscape and attract foreign capital.

Peru is among the most mineral-rich nations globally and a leading producer of copper, gold, silver, and zinc, among several other commodities. Peru’s proven reserves account for 9.1 percent of the world’s copper, as well as sizeable shares of silver (17.8 percent), gold (5.6 percent), zinc (8 percent), lead (6.2 percent), and other metals. Major firms such as Southern Copper, Freeport-McMoRan, Barrick Gold, and Volcan Compañia Minera have invested substantially since the 1990s to develop modern mining operations.

Opportunities

Peru presents substantial business opportunities in mining for international investors seeking to participate in the country’s growth. U.S. mining investment in Peru totaled $4.4 billion (as of 2024). Peru is the world’s 2nd largest copper producer and has substantial reserves of copper, gold, silver, zinc, lead, and other metals. There remains strong potential as less than one percent of land has been explored and just over one percent of reserves is under development. Major mining projects totaling $54.6 billion are still awaiting development. With its rich mineral deposits, stable mining regulations, and untapped potential, Peru offers compelling mining investment prospects.
 

Table: Mining Investment by Production type in USD Millions

 

2021

2022

2023

Benefi plant

1,410

1,346

1,231

Mining equipment

751

703

821

Exploration

336

429

433

Infrastructure

1,402

1,325

1,034

Development and Preparation

597

931

904

Other

767

631

292

Total

5,263

5,365

4,715  

Challenges 

In 2024, Peru’s mining sector, a cornerstone of its economy, grappled with persistent social unrest driven by environmental and community concerns, including disputes over the formalization requirements for artisanal miners. Despite government initiatives to equitably distribute mining revenues to foster local development, the regulatory landscape remains intricate, but the introduction of the digital one-stop window (“ventanilla única digital”) has begun to simplify exploration and operational procedures, enhancing efficiency. As Peru aims to boost production of copper and other critical minerals vital for the global energy transition, prioritizing environmental sustainability is imperative to mitigate conflicts and ensure long-term viability. Political stability remains essential to attract investment for the $54.6 billion mining project pipeline, predominantly focused on copper. Combating illegal mining, which undermines both economic, security, and environmental goals, is a pressing and growing challenge. By addressing these issues, Peru can strengthen its position as a leading mining hub while promoting sustainable economic growth.

Key Industry Events

  • PERUMIN: 38th Mining Convention
  • MINPRO: Expo Mineros y Proveedores
  • EXPOMINA PERÚ

Resources

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