ROE in Peru's mining sector falls to 2009 levels - study
Bnamericas Published: Tuesday, December 11, 2012
The annual return on equity (ROE) for mining companies registered with Peru's securities regulator SMV has fallen for the fourth consecutive quarter to 22.9% in September, according to a study by local consultancy Gerens. September's ROE is 16.5 percentage points lower than 39.4% registered in the same month of 2011, and is similar to that recorded in September 2009, towards the end of the financial crisis, according to a study that was cited by national mining and energy society SNMPE. Lower metals prices are partly to blame for the decreased rate of return, along with higher production costs and increased taxes, the study found. The mining sector accounts for around 60% of Peru's export revenue, and the mining project pipeline currently stands at over US$53bn, according to the mines and energy ministry ( MEM).
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