Peru’s Precious and Base Metals Status and Future Prospects

Peru has been an important source of metals since Aug. 29, 1533. On that day Francisco Pizarro took charge of the 24 t (772,000 oz) of gold and silver that constituted Atahualpa’s ransom. At today’s prices, the value of that booty ranges between $100 and $150 million, depending on the proportion of gold to silver. Since then, Peru’s silver and gold production has been legendary. Current mine production Most of Peru’s metals are mined from the Andes Mountains and its foot-hills. The Andes run the length of the country parallel to the Pacific coastline from Ecuador to Chile, a distance of nearly 3000 km (I 875 miles). They are about 300 km (187 miles) wide and much of the range is more than 3000 m (9900 ft) in elevation. High plateaus (altiplanos) occupy a large part of the range. Both flanks are rutted by large valleys and canyons. Many of these peaks are prodigious. which make road building expensive and adds to the cost of mining.