Peru - Country Commercial Guide
Mining Equipment and Machinery

This is a best prospect industry sector for this country.  Includes a market overview and trade data.

Last published date: 2021-10-07


Peru’s mining industry has been an essential component of the country’s economic development. The mining industry accounts for 10% of Peru’s gross domestic product and 60% of its exports, which make it Peru’s top export sector in general.  It is the world’s second largest producer of copper, silver and zinc and Latin America’s largest producer of gold. Abundant mineral resources such as copper, gold, silver, and lithium are found mainly in the mountains.  Substantial private sector investment has been directed to the sector over the past 20 years. It is estimated that Peru has approximately 200 operating mines and a number of major projects  waiting to be developed. According to the 2020 Portfolio of Mining Construction Projects from the Ministry of Energy and Mines, Peru has 46 mining projects with a joint investment of $51 billion and that includes greenfield (new mine sites) and brownfield (expansion of existing mines) projects.  The Portfolio has five projects in construction stage, four projects in detail engineering stage, 17 projects in feasibility stage and 20 projects in pre-feasibility stage. With respect to the type of ore to extract, copper projects are the majority within the Portfolio (25 out of 46 projects) representing 67.7% of global investment share. Followed by six gold projects, representing 9.3% of the Portfolio Global investment; also, it has six zinc, three iron projects, three phosphate, two silver and one uranium.

The UK is the largest foreign mining investor in Peru, followed by China, Canada, the United States and Mexico. The project portfolio investments have 11 countries:


Number of Projects and Most Relevant Projects

% of market Participation

Approx. Investment


6 projects including Quellaveco (owned by Anglo American) and La Granja (owned by Rio Tinto)


$ 12 billion


7 projects including Overseas Holdings ‘ Ampliacion Toromocho, Baiyin Nonferrouse Group’s Ampliacion Shouxin and MMG’s Chalcobamba proyect.


$ 10.4 billion


11 projects including  First Quantum Minerals’s Haquira proyect and Bar Creek’s Corani proyect


$ 8.5 billion


3 projects including Newmont Goldgroup’s Yanacocha Sulfuros project.


$ 7.2 billion


3 projects w/ Group Mexico’s Los Chancas, Michiquillay and Tia Maria operated by Southern Peru Copper


$ 6.5 billion


6 projects, owned mostly by Buenaventura and Grupo Arias


$ 4.3 billion


2 projects


$ 3.7 billion


5 projects


$ 2.4 billion

Japan, Switzerland, Korea

3 projects


$ 1.10 billion


46 Projects


$ 56.2 billion

U.S.-based Freeport McMoRan, owner of the Cerro Verde large copper mine in the south of Peru (Arequipa), completed a $5.5 billion expansion in 2016. Another U.S. company, Fluor, was awarded the engineering, procurement, and construction of the Quellaveco copper project owned by the the British mining company, Anglo American.


2021 is witnessing a very important rebound in the price of copper, which has increased in price by more than 70% in the last 12 months to more than four dollars a pound, reaching its highest level in 10 years according to the Institute of Mining Engineers of Peru.  It is estimated that the world will need an investment of $91 billion to build new copper mines between now and 2030 in order to meet expected demand, which is undoubtedly an excellent opportunity for Peru, as the second producer copper world.  Absent political uncertainty challenges discussed further below, Peru is generally an attractive destination for mining investments, with large mineral and metal reserves, including major undiscovered deposits.  Peru offers mining investors significant commercial advantages and ample freedom to import machinery, equipment, and services that they require for their mining activities at a lower cost and with less bureaucratic requirements than ever before.  Peruvian laws, regulations, and practices do not discriminate between national and foreign companies. The Peruvian government guarantees foreign investors legal stability on income tax regulations and dividend distributions. A favorable legal framework, readily available cadastral and geological information, and a stable economy have motivated foreign investments.

We recommend that U.S. exporters and potential investors entering the Peruvian market establish a local branch office or appoint a local representative and also secure legal counsel knowledgeable of the Peruvian market, mining sector legal framework, and Spanish language.  If U.S. exporters of smaller goods prefer to work with local distributors, they should clarify the expertise and track records of those companies with whom they choose to work. When selling mining equipment to Peru, it is important to offer post-sale services required by most mining companies, such as assembly, maintenance, parts, and operational training.


To take better advantage of its rich mining and metal deposits, the government will need continued political stability coupled with a streamlining of its permitting process. In addition, the new Castillo government  has signalled it may increase mining taxes to fund public spending.  Thus, private sector mining investment has taken a pause pending clarity on what the new administration’s policy will be.

The industry has been hampered by several factors including the coronavirus outbreak, political instability, social conflict and excessive bureaucracy.  Mining remains the source of most social-environmental conflicts, with approximately 60 ongoing conflicts. Local communities express two major concerns: environmental degradation (including water and land contamination) and the lack of benefits (e.g. health, education, and infrastructure services) to local communities affected by mining despite the enormous wealth generated by the mining industry. Throughout the years, attempts have been made to resolve these conflicts, but these have generally been piecemeal short-term solutions. 


Mining Equipment and Machinery





Total Exports





Total Imports





Imports from the US





Total Market Size





Units: $ millions; Total Market Size = (Total Local Production + Imports) – Exports; Source: Global Trade Atlas

Leading Product Imports Within Sector (2020)


HTS Code



Parts of Mach For Sorting Etc. Earth Stone Ores Etc.


Mech Shovels Excavators Etc. W 360 Degree Sprstruc


Truck, Diesel Eng, Gvw > 20 Metric Tons


Mech Front-End Shovel Loaders, Self-Propelled


Parts and Attachments NESOI for Derricks Etc.


Spark-Ignition Reciprocating Int Com Pistn Eng Pts


Filter/Purify Machine & Apparatus Parts


Mech Shovels, Excavators and Shovel Loaders NESOI


Air/Gas Pumps, Compressors and Fans Etc, NESOI


Bulldozers and Angeldozers, Self-Prop, Track Lay


Dumpers Designed For Off-Highway Use


Key Industry Events

  • MINExpo International: September 13-15 2021, Las Vegas, NV
  • Expomina Peru: April 27-29, 2022, Jockey Center, Lima, Organizer: Grupo DIGAMMA
  • Perumin: 35th Mining Convention, September 26-30, 2022, Cerro Juli, Arequipa ; Organizer: Institute of Mining Engineers of Peru (IIMP)


Sociedad Nacional de Minería, Petróleo y Energía - SNMPE

(National Mining, Oil, and Energy Society)

Francisco Graña 671, Magdalena del Mar. Lima 17, Tel.: (511) 215-9250


Ministry of Energy and Mines (limited English content)

Av. Las Artes 260, San Borja. Lima 41, Tel.: (511) 411-1100


Instituto de Ingenieros de Minas del Peru - IIMP (Spanish)

Calle Los Canarios155, La Molina. Lima 12, Tel: (511) 313-4160


Energy and Mining Regulatory Agency – Osinergmin (Spanish)

(Supervising Agency for Investment in Energy and Mining)

Jr. Bernardo Monteagudo 222, Magdalena del Mar. Lima 17, Tel.: (511) 219-3410

Environmental Assessment and Control Agency - OEFA (Spanish)