Peru Remains Committed to Its Mining Industry

Despite low commodity prices and mining industry cutbacks throughout the world, Peru remains one of the industry’s bright spots. The country’s remarkable economic turnaround during the 1990s remains a model for other developing nations to follow. And the Peruvian government has not forgotten the industry that was instrumental in that turnaround. True, the country has not been spared the effects of the mining industry’s retrenchment that has occurred in other parts of the world. However, foreign mining companies remain committed to doing business in Peru. And the government remains committed to attracting foreign investment and maintaining a strong mining industry. This commitment was evident in September 1999during the 24th Convention of the Institutos de Ingenieros de Minas del Peru in Arequipa, Peru. More than 3,000 mining industry professionals from around the world attended the convention. And Extemin, the accompanying exhibit, featured more than 450 companies, many from the United States, Canada, Australia, South Africa and other countries.