Technological advancements have altered the conditions under which prospecting and mining occurs, and have drawn major players to Peru. There is great potential for new mining projects in Peru and opportunities for suppliers to fulfill needs for equipment and services.
The U.S.-Peru Trade Promotion Agreement (USPTA), signed in 2006, is expected to improve Peru’s investment climate by increasing foreign interest and investment.
The mining sector is a major contributor to Peru’s sustained economic growth. In 2005, mining production represented 13.5% of the GDP and comprised nearly 54% of total exports, about US$ 8.9 billion.