EXPLORATION ’92 — Peru’s mineral resources diverse

Mining accounts for 11% of Peru’s gross domestic product and about 45% of total exports, the country’s minister of mines and energy said at a recent meeting in San Francisco.

The industry employs more than 50,000 people and represents 12% of fiscal income, Daniel Hokama Tokashiki said.

Peru hosts about 5% of the world’s known zinc deposits, 2.8% of the world’s copper deposits and 28% of the world’s silver deposits, he said. Other minerals found in the country include lead, iron ore and gold. “public opinion on side.”

Mining projects in the country must go through an environmental review process that can take 30-120 days to complete, depending on the size and complexity of the project. Costs typically vary from US$5,000 to US$45,000, again depending on size and complexity.

Canadian mining companies were also told that the Mexican states are interested in promoting joint ventures with local entrepreneurs, and projects that provide good opportunities for job creation and technology transfer. Details of financial support available within Mexico were also provided, as well as a prediction that North American and European banks and lending institutions should be more willing to finance Mexican projects as NAFTA becomes a reality.

Canadian mining companies active in Mexico predict that heap-leach gold projects and copper projects amenable to solvent extraction and electrowinning will be particularly important in Mexico’s economic revival.