The steady growth of Peru’s economy over the past few years has been largely as a result of the mining industry. In 2013, $9.7 billion was injected into the local economy as a result of mining, an increase of 14% over the 2012 figure. Authorities estimate that 2014 will see similar levels.

Peru is the second largest producer of silver in the world, ranks second in copper, third in both tin and zinc production, fourth in lead and fifth in the world for gold. Peru’s mineral reserves amount to 22% of the world’s silver, 13% of copper, 9% lead, 7.6% zinc, 6% tin and 4% gold.

Peru’s constitution guarantees equal rights for domestic and foreign investors. In 1992 the government relinquished its exclusive management rights of the mining industry and legal procedures for mining ventures were simplified. The stability of Peru’s legal framework has encouraged extensive investment. In 2011 the mining industry received approximately 25% of Peru’s foreign direct investment (FDI), amounting to $5.4 billion.

The primary countries investing in Peru’s mineral sector include China (totaling around $10.7 billion), the United States ($8.9 billion), Canada ($6.8 billion), Switzerland ($6.7 billion), Australia ($4.7 billion), Mexico ($3.5 billion), and Brazil ($2.1 billion), among others. More than $53 billion has been committed for investment in 52 mining project throughout Peru.

Peru produced 1.3 million metric tons (Mt) of copper last year (and expects to more than double this to 2.8 Mt by 2016), 165 metric tons (t) of gold, over 230,000 t of lead, almost 28,000 t of tin, 3,400 t of silver and 1.26 Mt of zinc.