Peru
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Peru still tops world in silver reserves, second in copper

Bnamericas Published: Thursday, October 01, 2020
Peru still tops world in silver reserves, second in copper

Copper, silver and zinc remain the most abundant of Peru's metallic minerals, according to the latest map of mining projects and exploration units published by the energy and mines ministry (Minem).

The map shows that Peru has total probable and proven reserves of 91.2Mt (million metric tons) of silver, 91.7Mt of copper and 20.6Mt of zinc.

It also has estimated total reserves of 2,694t of gold, 2.79Mt of molybdenum and 6.01Mt of lead, according to the Minem figures.

These reserves make it one of the world's most metallic mineral-rich nations, being ranked first in silver, second in copper, second in molybdenum, fourth in lead, fifth in zinc and seventh in gold. 

The majority of the country's silver reserves are located in Áncash and Junín regions, while the bulk of the copper reserves are in Moquegua, Arequipa, Tacna and Piura regions. 

MINE PORTFOLIO 

Peru currently has a portfolio of 48 mine construction projects, involving investments of around US$58bn, as well as 64 exploration projects worth nearly US$500mn.

Peru's deputy minister of mines, Jaime Gálvez, said recently that the country has a very interesting portfolio of projects, but that exploration needs to improve a great deal.

Mining is the backbone of the Peruvian economy, contributing around 10% of GDP and accounting for over 60% of the total value of its exports.

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