OVERVIEW OF THE MINING INDUSTRY IN PERU

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THE MINING INDUSTR Y

IN PERU

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Study

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OVERVIEW OF THE MINING INDUSTRY IN PERU

FIT LIMA

30.06.2020

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INHOUD

1. IMPORTANCE OF THE MINING INDUSTRY IN THE PERUVIAN ECONOMY ... 3

2. MINERAL PRODUCTION ... 5

3. CLASSIFICATION OF MINING ACTIVITIES ... 6

4. MINING INVESTMENTS ... 7

4.1 MINING INVESTMENT BY COMPANY 9 5. MINING POTENTIAL ... 11

6. LEGAL FRAMEWORK ... 14

6.1 MINING TERMS 14 6.2 REGULATION OF THE MINING INDUSTRY 15 6.3 ENVIRONMENTAL MATTERS 16 7. RELATED INSTITUTIONS ... 16

8. RELATED EVENTS ...17

9. SOURCES OF INFORMATION ... 18

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1. IMPORTANCE OF THE MINING INDUSTRY IN THE PERUVIAN ECONOMY

The mining industry in Peru has been historically important. During the first three five-year periods of this century, Peru has experienced remarkable economic growth driven, in large part, by the price of metals. This progress, commonly called the mineral boom, coincided with a moment in history after the structural reforms that guided the country towards liberalization and economic openness processes and a redefinition of the role of the State in the Economy¹.

According to the National Society of Mining, Oil and Energy (SNMPE), the mining activity accounted for 9%

of the country's gross domestic product (GDP) during the last 10 years and reached almost 60% of the total value of Peruvian exports².

Based on estimates of the Supervisory Agency for Investment in Energy and Mining (OSINERGMIN), a 19%

increase in the price of copper would produce an increase in the GDP of 1.28% and 0.88% in the fiscal result. On the other hand, if copper production increases by 28%, the GDP would increase by 1.35% and the fiscal result by 0.92%³.

1 Information extracted from La Industria de la Minería en el Perú, report conducted by OSINERGMIN

2 Information extracted from El Peruano, https://andina.pe/agencia/noticia-actividad-minera-peru-represento-9-del-pbi-ultimos-diez-anos-763521.aspx

GDP BY ECONOMIC SECTOR 2017

Other services 15%

Manufacturing 13%

Commerce 10%

Mining and hydrocarbons Import duties and other taxes 9%

8%

Transport and couriers 7%

Construction 7%

Agriculture and livestock 6%

Public Administration and defense 5%

Finance and insurance 5%

Services provided to companies 5%

Accomodation and restaurants Electricity, gas and water

2% Telecommunications 2% Fisheries

1%

Chart 1: GDP extracted from Compendio Estadístico 2018 elaborated by the National Institute of Statistics and Information (INEI)

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The mining sector is also important for the generation of employment. According to a study conducted by the Peruvian Economy Institute (IPE) for each direct job generated in mining, 6.25 additional jobs are created in other sectors. Of these 6.25 jobs, one is direct (ground transportation; vehicle maintenance;

professional services; scientific and technical services; and metal products manufacturing). The other 5.25 are indirect jobs, which are subdivided into jobs related to consumer actions (agricultural crops, animal husbandry, restaurants, education) and investment actions (construction, manufacturing of metal products for structural use and machinery)⁴.

4 Information extracted from America Economía, https://www.americaeconomia.com/negocios-industrias/peru-preve-us12800m-de-inversion-minera-en-2020-y-2021

MAIN ECONOMIC ACTIVITIES PER REGION

Image 1: Images extracted from University of Texas - Perry Castaneda Library Map Collection

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2. MINERAL PRODUCTION

Peru is the world’s second largest producer of copper and it is also a major producer of gold, silver, zinc, among other minerals⁵. According to the Mineral Commodity Summary March 2020 published by the US Geological Survey⁶, Peru has 10% of the world’s copper reserves, 4.2% of its gold, 21.4% of its silver, 7.6%

of zinc, 7% of lead and 2.3% of tin reserves.

Peru is the second largest producer of copper, silver and zinc in the world. In lead production, Peru ranks third; fourth in the production of tin and molybdenum; and eighth in gold production. Among Latin American countries, Peru stands out for being the main producer of gold, zinc, lead and tin; as well as the second place in the production of copper, silver and molybdenum.

PERU IN THE WORLDWIDE RANKING OF MINING PRODUCTION Product Latin America Worldwide

Gold 1 8

Copper 2 2

Silver 2 2

Zinc 1 2

Lead 1 3

Tin 1 4

Molybdenum 2 4

Cadmium 2 9

Table 1: Information extracted from the Mineral Commodity Summary March 2020 published by the US Geological Survey

According to the statistical bulletin December 2019 conducted by the Ministry of Energy and Mines (MINEM)⁷, the national production of copper, lead, iron, tin and molybdenum in 2019 reported an increase of 0.8%, 6.6%, 6.1%, 6.7% and 8.6%, respectively, in relation to the similar period of the previous year. On the contrary, the production of gold, zinc and silver decreased in the same period.

5 Information extracted from Peru Mining & Metals Business and Investment Guide 2020 – 2021, conducted by E&Y

6 Information extracted from the Mineral Commodity Summary March 2020 published by the US Geological Survey, https://www.usgs.gov/centers/nmic/mineral-commodity-summaries

7 Information extracted from the statistical bulletin December 2019 elaborated by the Ministry of Energy and Mines (MINEM), https://www.minem.gob.pe/minem/archivos/file/Mineria/PUBLICACIONES/VARIABLES/2019/BEMDIC2019.pdf

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PERU’S MINERAL PRODUCTION

Production Units 2013 2014 2015 2016 2017 2018 2019

Copper FMT 1 375 614 1 377 642 1 700 814 2 353 859 2 445 584 2 437 035 2 455 440

Gold Fine gr. 151 486 072 140 097 028 146 822 907 153 005 897 151 964 040 140 210 984 128 413 463

Zinc FMT 1 351 273 1 315 475 1 421 218 1 337 081 1 473 073 1 474 383 1 404 382

Silver Fine gr. 3 674 282 968 3 768 147 178 4 101 567 717 4 375 336 687 4 417 986 781 4 160 161 933 3 860 306 049

Lead FMT 266 472 277 294 315 525 314 422 306 784 289 123 308 116

Cadmium

(Refining) FMT 695 769 757 820 797 765 772

Iron FMT 6 680 69 7 192 592 7 320 807 7 663 124 8 806 452 9 533 871 10 120 007

Tungsten FMT 35 77 139 0 0 - -

Tin FMT 23 668 23 105 19 511 18 789 17 790 18 601 19 853

Molybdenum FMT 18 000 17 018 20 153 25 757 28 141 28 034 30 441

Table 2: Mining production elaborated by the Ministry of Energy and Mines (MINEM)

3. CLASSIFICATION OF MINING ACTIVITIES

Mining in Peru can be classified in the following categories (estratos de la minería): large, medium, small and artisanal mining⁸.

CLASSIFICATION OF MINING ACTIVITIES⁹

Regime Category Size Production capacity

General Regime Large-scale mining Unlimited More than 5 000 tonnes/day

Medium-scale mining Unlimited 350 metric tonnes/day to 5 000 tonnes/day

Regime of small-scale and artisanal mining

Small-scale mining Up to 2 000 hectares Up to 350 tonnes/day Artisanal mining Up to 1 000 hectares Up to 25 tonnes/day

Table 3: Information extracted from the Ministry of Energy and Mines (MINEM)

9 Although the Mining Law (Art. 91 of the Legislative Decree N° 1040 enacted in 2008) only defines the small-scale and artisanal mining, for statistical purposes the General Directorate of Mining (DGM) of the Ministry of Energy and Mines (MINEM) has set the production capacity that differentiate medium-scale and large-scale mining

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Based on the information extracted from the Mining yearbook 2019 elaborated by the Ministry of Energy and Mines (MINEM)¹⁰, large-scale mining encompasses search, prospecting, exploration, development, extraction, concentration, smelting, refining, and shipping operations. It is characterized by being highly mechanized and for exploiting world-class deposits, mainly open pit.

As to medium-sized mining, this category groups companies that operate mostly underground mining units. Although this sector is characterized by having a considerable degree of mechanization and adequate infrastructure, it limits its operations to the extraction and concentration of minerals, which is why smelting and refining operations are primarily carried out by large mining companies.

Regarding artisanal mining, it serves as a regular means of subsistence and is carried out using manual methods and/or basic or very rudimentary equipment. These small mining companies are primarily engaged in alluvial underground gold activity, and mineral extraction and processing.

It is important to mention that, as of December 2019, the Ministry of Energy and Mines (MINEM) has registered a total of 1,601 mining holders, of which 811 referentially belong to small-scale mining; 130 to artisanal mining and 660 to large and medium mining.

4. MINING INVESTMENTS

Mining investment is a fundamental part of the Peruvian economy. In the last ten years, mining had an average participation of 23% in foreign direct investment (FDI). From the information recorded in the database of the Ministry of Energy and Mines (1996) until 2019, the investment reported by the mining activity holders amounts to 71,430 million USD and exclusively during the last decade 83.1% was executed due to the development of large-scale mining projects¹¹.

10 Information extracted from the Mining yearbook 2019 elaborated by the Ministry of Energy and Mines (MINEM), https://www.minem.gob.pe/minem/archivos/file/Mineria/PUBLICACIONES/ANUARIOS/2019/AM2019.pdf

11 Information extracted from the Mining yearbook 2019 elaborated by the Ministry of Energy and Mines (MINEM), https://www.minem.gob.pe/minem/archivos/file/Mineria/PUBLICACIONES/ANUARIOS/2019/AM2019.pdf

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Chart 2: Information extracted from the Mining yearbook 2019 elaborated by the Ministry of Energy and Mines (MINEM)

In 2019 private investment in the mining sub-sector amounted to 6,157 million USD, exceeding the goal of 6,000 million USD proposed in early 2019 with a margin of 24.5% compared to the same period in 2018.

This optimal result is a consequence of the greater investment executed by large copper projects such as Quellaveco (Moquegua), Mina justa (Ica) and Ampliación Toromocho (Junín). Likewise, it is worth mentioning that in 2019 the construction of both Tailings B2 San Rafael (Puno) and Quecher Main (Cajamarca) was completed¹².

TOTAL MINING INVESTMENTS IN PERU (in USD)

2013 2014 2015 2016 2017 2018 2019

Beneficiation plant 1 414 373 690 889 682 461 446 220 610 238 198 426 286 720 393 1 411 676 115 1 512 994 358 Mining equipment 789 358 144 557 607 616 654 233 735 386 908 382 491 197 398 656 606 475 1 035 404 125 Exploration 776 418 375 625 458 907 527 197 097 377 053 519 484 395 158 412 524 042 356 571 548 Preparation 404 548 165 420 086 095 374 972 373 349 690 539 388 481 559 761 288 310 1 151 532 751 Infrastructure 1 807 744 001 1 463 521 224 1 227 816 025 1 079 320 196 1 556 537 971 1 084 149 410 1 316 174 401 Others 3 671 179 592 4 122 853 398 3 594 184 486 902 392 511 720 684 303 621 190 528 784 454 904 Total 8 863 621 966 8 079 209 701 6 824 624 326 3 333 563 573 3 928 016 782 4 947 434 879 6 157 132 087

Table 4: Information extracted from the Statistical bulletin December 2019 elaborated by the Ministry of Energy and Mines (MINEM)

12 Information extracted from the statistical bulletin December 2019 elaborated by the Ministry of Energy and Mines (MINEM), https://www.minem.gob.pe/minem/archivos/file/Mineria/PUBLICACIONES/VARIABLES/2019/BEMDIC2019.pdf

3 332 6 378

7 498 8 864

8 079 6 825

3 334 3 928 4 947 6 157

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

TOTAL MINING INVESTMENTS (in million USD)

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4.1 MINING INVESTMENT BY COMPANY

Peru is one of the most extensively mineralized countries of the world. It plays host to some of the world’s major mining companies such as Glencore, Freeport-McMoRan, Rio Tinto, Anglo American, MMG, Teck, Chinalco and Barrick¹³.

RANKING OF MINING INVESTMENT BY COMPANY 2019 (in USD)

Company 2018 2019^* VAR. %

1° ANGLO AMERICAN QUELLAVECO S.A 510 076 311 1 343 517 528 163.4%

2° MARCOBRE S.A.C 252 468 679 744 693 273 195.0%

3° MINERA CHINALCO PERU S.A. 227 160 237 412 709 814 81.7%

4° SOUTHERN PERU COPPER CORPORATION SUCURSAL DEL PERU 614 832 860 397 425 518 -35.4%

5° COMPAÑIA MINERA ANTAMINA S.A. 275 967 017 326 047 532 18.1%

6° MINERA LAS BAMBAS S.A. 213 327 703 274 425 110 28.6%

7° SOCIEDAD MINERA CERRO VERDE S.A.A. 285 070 997 266 859 576 -6.4%

8° SHOUGANG HIERRO PERU S.A.A. 509 016 970 211 514 403 -58.4%

9° MINERA YANACOCHA S.R.L. 119 372 931 180 637 236 51.3%

10° COMPAÑIA MINERA ANTAPACCAY S.A. 189 180 203 150 782 112 -20.3%

11° MINSUR S.A. 113 817 125 141 994 274 24.8%

12° NEXA RESOURCES PERU S.A.A. 58 700 639 138 304 299 135.6%

13° VOLCAN COMPAÑÍA MINERA S.A.A. 85 849 525 96 408 071 12.3%

14° COMPAÑIA MINERA PODEROSA S.A. 85 290 122 94 776 550 11.1%

15° COMPAÑIA MINERA ARES S.A.C. 96 083 423 88 866 265 -7.5%

16° COMPAÑIA MINERA CHUNGAR S.A.C. 71 077 376 85 282 579 20.0%

17° SHAHUINDO S.A.C. 108 331 606 70 006 256 -35.4%

18° COMPAÑÍA DE MINAS BUENAVENTURA S.A.A. 69 494 802 66 584 122 -4.2%

19° HUDBAY PERU S.A.C. 38 549 338 64 176 488 66.5%

20° EMPRESA MINERA LOS QUENUALES S.A. 38 002 720 61 651 854 62.2%

21° GOLD FIELDS LA CIMA S.A. 34 568 861 58 242 706 68.5%

22° COMPAÑIA MINERA RAURA S.A. 45 397 274 53 935 967 18.8%

23° CONSORCIO MINERO HORIZONTE S.A. 55 280 180 42 197 978 -23.7%

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24° COMPAÑIA MINERA KOLPA S.A. 50 424 736 38 736 800 -23.2%

25° MINERA AURIFERA RETAMAS S.A. 38 711 176 38 248 892 -1.2%

26° SOCIEDAD MINERA CORONA S.A. 26 170 463 34 135 468 30.4%

27° NEXA RESOURCES EL PORVENIR S.A.C. 24 837 275 32 806 575 32.1%

28° YURA S.A. 4 148 166 31 164 000 651.3%

29° COMPAÑIA MINERA CONDESTABLE S.A. 14 915 372 30 467 495 104.3%

30° ALPAYANA S.A. 24 085 303 29 050 938 20.6%

31° COMPAÑIA MINERA COIMOLACHE S.A. 57 916 203 28 590 022 -50.6%

32° COMPAÑIA MINERA ZAFRANAL S.A.C. 28 427 930 25 605 702 -9.9%

33° UNION ANDINA DE CEMENTOS S.A.A. 14 412 516 24 418 974 69.4%

34° MINERA BATEAS S.A.C. 37 920 106 23 428 320 -38.2%

35° LA ARENA S.A. 45 012 378 22 542 223 -49.9%

36° COMPAÑIA MINERA MISKI MAYO S.R.L. 12 596 895 22 210 373 76.3%

37° TREVALI PERU S.A.C. 25 595 547 19 306 073 -24.6%

38° EL MOLLE VERDE S.A.C. 4 354 234 19 074 443 338.1%

39° SOCIEDAD MINERA EL BROCAL S.A.A. 21 985 040 16 482 868 -25.0%

40° CATALINA HUANCA SOCIEDAD MINERA S.A.C. 15 547 298 16 036 417 3.1%

41° CORI PUNO S.A.C. 9 739 125 15 003 530 54.1%

42° COMPAÑIA MINERA LINCUNA S.A. 6 255 151 14 175 621 126.6%

43° COMPAÑIA MINERA ARGENTUM S.A. 14 789 732 12 383 545 -16.3%

44° NEXA RESOURCES ATACOCHA S.A.A. 16 527 067 12 360 131 -25.2%

45° S.M.R.L. SANTA BARBARA DE TRUJILLO 9 033 700 12 220 207 35.3%

46° MINERA COLQUISIRI S.A. 14 415 766 11 749 258 -18.5%

47° PARDO VILLAORDUÑA ENRIQUE EDWIN 13 387 007 10 175 000 -24.0%

48° PAN AMERICAN SILVER HUARON S.A. 17 854 108 9 512 580 -46.7%

49° BEAR CREEK MINING S.A.C. 5 174 211 8 276 723 60.0%

50° COMPAÑIA MINERA SAN IGNACIO DE MOROCOCHA S.A.A. 1 574 775 7 342 961 366.3%

OTHERS 294 706 701 220 587 437 -25.2%

TOTAL^** 4 947 434 879 6,157,132,087 24.5%

* Preliminary data

** Includes investment in the areas of beneficiation plant, mining equipment, preparation, infrastructure, exploration, and others.

Table 5: Information extracted from the Mining yearbook 2019 elaborated by the Ministry of Energy and Mines (MINEM), https://www.minem.gob.pe/_publicaSector.php?idSector=1

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5. MINING POTENTIAL

Although Peru is endowed with large deposits of a variety of mineral resources, it is estimated that only 0.3% of the country’s total territory is being explored. Likewise, only a small percentage (1%) of Peru’s mineral reserves is being exploited¹⁴.

According to the Mine Construction Project Portfolio 2019 published by the Ministry of Energy and Mines (MINEM)¹⁵, there are 48 projects with investments amounting to 57 772 million USD. These investments include the construction of new mines (greenfield), expansion or replacement of existing ones (brownfield) and the reuse of tailings (greenfield).

As to the mining exploration projects in Peru, according to the Ministry of Energy and Mines¹⁶ the portfolio for 2020 consists of 64 projects with an investment amount of 498.6 million USD. These projects are located in 16 regions, being Arequipa the one with the largest amount of investment.

Of the 64 projects present in the portfolio, 27 already have the authorization of exploration granted by the General Directorate of Mining (DGM) of the Ministry of Energy and Mines and are suited to start exploratory activities.

As to the type of exploration, these can be grouped into greenfield or brownfield. Greenfield projects (45) represent 79% of the total portfolio with a joint investment of 391.7 million USD, while brownfield projects (19) represent 21% of the portfolio, adding an investment of 106.9 million USD.

For more information regarding Peru’s projects portfolio, please review the following link:

https://www.proyectosapp.pe/modulos/JER/PlantillaProyectoEstadoSector.aspx?are=1&prf=2&jer=5892&

sec=30

15 Information extracted from the Ministry of Energy and Mines (MINEM), https://www.minem.gob.pe/_publicacion.php?idSector=1&idPublicacion=590

16 Information extracted from the Ministry of Energy and Mines (MINEM), https://www.minem.gob.pe/_publicacion.php?idSector=1&idPublicacion=595

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MINING CONSTRUCTION PROJECT PORTFOLIO

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MINING EXPLORATION PROJECT PORTFOLIO

Source of information: Mining Exploration Project Portfolio 2020 elaborated by the Ministry of Energy and Mines (MINEM),

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6. LEGAL FRAMEWORK

The role of the government over exploration, mining, smelting and refining of minerals is limited to that of a regulator, promoter and overseer. The government has privatized most of its assets in the mining sector. In contrast with the situation two decades ago, large mining operations are now held by domestic and foreign privately-owned mining companies. Private domestic interests own most of the medium and small-sized mining operations.

The marketing of mineral products in Peru is unrestricted, both domestically and externally. Thus, mining companies are not under the obligation neither to satisfy the internal market before exporting its mining products nor to sell them at “official” prices or terms.

6.1 MINING TERMS

¹⁷

Peru has a comprehensive legal framework that clearly defines rights, obligations and responsibilities for all stages of the development process of mineral resources. Mining operations are undertaken under a source regime based on an administrative act, where the grant of a mining right depends on the strict compliance with the procedure laid down in the Law for the grant of that title and not on administrative discretion. The absence of administrative discretion leaves the right to mine more firmly ensured within Peru’s mining legal framework than under other regimes.

The right to explore, extract, process and/or produce minerals in Peru in granted by the Peruvian government in the form of mining and processing concessions. Requirements for obtaining them are determined by law and the application and granting process are relatively simple and clear. The rights and obligations of holders of mining concessions and processing concessions are currently set forth in the General Mining Law. This law clearly determines the terms and conditions under which those mining activities are allowed in Peru; including the way in which mining rights can be obtained and maintained, how they can be lost, what are the obligations of their holders, etc. The law also makes provision for contracts permitting options over mineral rights, assignments and mortgages.

Mining concessions may be separately granted for metallic and non-metallic minerals. The same mining concession is valid for exploration and for exploitation operations; hence there is complicated “conversion”

procedure. Mining concessions are granted on a “first come, first serves” basis, with provision for an auction if simultaneous claims are made. A separate processing concession is available, granting the right to concentrate, smelt or refine minerals already mined. No concession is required to trade in minerals and exports by produces are not restricted.

To obtain a mining concession, the law requires that the area is free of restrictions and that the applicant is clearly identified, able to carry out the proposed activities and pays application and license fees. The application process is managed by the Geological, Mining and Metallurgical Institute (INGEMMET). The

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terms and conditions, rights and obligations of mining concessions are not subject to any discretionary discretion or negotiation. Applications are publicly disclosed and processed in the order they are filed. The successful awards are disclosed to the public in the mining cadaster, which is available on line. This system guarantees both openness and transparency of the allocation process. Mining concessions can also be obtained through the assignment of concessions previously granted by to independent or related parties.

It is important to mention that, in Peru -as in many other countries- the state retains ownership of all subsurface land and mineral resources. The ownership of extracted mineral resources, however, is vested on the titleholders of mining concessions.

Under Peruvian law, there is a differentiation between the surface land property and that of natural resources. It is often the case that the titleholders of mining concessions (which confer them the right to explore and mine underground ore reserves in the area of the claim) are not the owners of the surface land.

Clear administrative procedures which holders of mining concessions must follow to gain access to privately owned land for mining activities have been established in the General Mining Law in order to avoid potential conflicts with third parties after a mineral deposit has been discovered. Pursuant to Peruvian regulations, all operators of mining areas in Peru are required to have an agreement with the owners of the land surface above the mining rights or to stablish an easement upon such surface for mining purposes. Expropriation procedures have been considered for cases in which landowners are reluctant to allow mining companies to have access to a mineral deposit. The administrative decision originated from these procedures can only be judicially appealed by the original landowner with respect to the amount of his compensation.

6.2 REGULATION OF THE MINING INDUSTRY

The Government plays an important role in the organization and operation of each productive sector. In mining, it dictates the laws, rules and provisions that are part of social and economic regulation¹⁸.

The State entities (regional ministries and governments) together with the supervisory bodies such as the Supervisory Agency for Investment in Energy and Mining (OSINERGMIN), the Agency for Environmental Assessment and Enforcement (OEFA) and the National Superintendence of Labor Inspection (SUNAFIL) are the institutions responsible for carrying out the social regulation of the mining sector in Peru.

OSINERGMIN, OEFA and SUNAFIL are in charge of the supervision of medium and large-scale mining, while regional governments fulfill this role in artisanal and small-scale mining activities.

For more information, please review the following links:

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https://www.snmpe.org.pe/mineria/legislacion.html

http://www.minem.gob.pe/_legislacionSectorM.php?idSector=1

6.3 ENVIRONMENTAL MATTERS

¹⁹

In recent years, Peru has enacted a new regime of environmental laws, which established the main environmental guidelines and principles applicable in Peru. Pursuant to these law, the Ministry of Energy and Mines (MINEM) and the Environmental Ministry have issued regulations mandating environmental standards for the mining industry and reviews and approves environmental studies for mining operations.

These laws and related regulations increased the level of environmental regulation and established a number of environmental management standards as well as guidelines with respect to particulate emissions in air, water quality, exploration, tailings and water discharged, among other requirements.

Under these environmental regulations, new mining development and production activities are required to file and obtain approval for and Environmental Impact Study (EIS), which incorporates technical, environmental and social matters, before being authorized to commence operations. The Agency for Environmental Assessment and Enforcement (OEFA) monitors environmental compliance. It has the authority to carry out unexpected audits and levy fines on mining companies if they fail t comply with prescribed environmental standards.

In addition, mining companies must prepare, submit and execute plans for the closing of mines, or Closure Plans, and grant environmental guarantees to secure compliance with Closure Plans during the life of the concession. The guarantee must cover the estimated amount of the Closure Plan and may be in cash, trusts, and any other guarantee contemplates in the Banking Law.

7. RELATED INSTITUTIONS

▪ AGENCY FOR ENVIRONMENTAL ASSESSMENT AND ENFORCEMENT (OEFA) T.: (+511) 204 9900

https://www.gob.pe/oefa

Address: Av. Faustino Sánchez Carrión 603, 607 y 615, Jesús María

▪ MINISTRY OF ENERGY AND MINES (MINEM) T.: (+511) 411 1100

http://www.minem.gob.pe/

Address: Av. las Arte Sur 260, San Borja

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▪ NATIONAL SOCIETY OF MINING, OIL AND ENERGY (SNMPE) T.: (+511) 215 9250

http://www.snmpe.org.pe/

Address: Francisco Graña 671, Magdalena del Mar

▪ PERUVIAN INSTITUTE OF MINING ENGINEERS (IIMP) T.: (+511) 313 4160

http://www.iimp.org.pe/

Address: Calle Los Canarios 155-157 Urb. San César II Etapa, La Molina

▪ GEOLOGICAL, MINING AND METALLURGICAL INSTITUTE (INGEMMET) T.: (+511) 618 9800

https://www.ingemmet.gob.pe/

Address: Av. Canadá 1470, San Borja

▪ SUPERVISORY AGENCY FOR INVESTMENT IN ENERGY AND MINING (OSINERGMIN) T.: (+511) 219 3400

http://www.osinergmin.gob.pe/

Address: Calle Bernardo Monteagudo 222, Magdalena del Mar

8. RELATED EVENTS

▪ 14TH INTERNATIONAL GOLD, SILVER AND COPPER SYMPOSIUM http://www.simposium-del-oro.snmpe.pe/index-english.html

▪ II CONVENTION AGROMINERA - AGROMIN http://www.agrominperu.com/

▪ MINPRO

Miners-Suppliers Meeting http://www.minproperu.com/

▪ EXPO MINA

https://www.expominaperu.com/

▪ PERUMIN

https://www.convencionminera.com/perumin34/

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9. SOURCES OF INFORMATION

MINEM

▪ http://mineria.minem.gob.pe/institucional/peru-pais-minero/

▪ http://www.minem.gob.pe/_legislacionSectorM.php?idSector=1

▪ https://www.minem.gob.pe/_publicacion.php?idSector=1&idPublicacion=581

▪ http://www.minem.gob.pe/_publicaSector.php?idSector=1&idCategoria=19

▪ https://www.minem.gob.pe/_publicaSector.php?idSector=1

▪ https://www.minem.gob.pe/minem/archivos/file/Mineria/PUBLICACIONES/ANUARIOS/2019/AM2019.p df

▪ https://www.minem.gob.pe/minem/archivos/file/Mineria/PUBLICACIONES/VARIABLES/2019/BEMDIC2 019.pdf

▪ https://www.minem.gob.pe/minem/archivos/file/Mineria/PUBLICACIONES/VARIABLES/2020/BEMENE2 020.pdf

▪ https://www.minem.gob.pe/minem/archivos/CarteradeProyectosdeExploracionMinera2020.pdf

▪ https://www.minem.gob.pe/minem/archivos/file/Mineria/INVERSION/2019/CPE2019.pdf

▪ https://www.minem.gob.pe/minem/archivos/file/Mineria/INVERSION/2019/CP2019- SET2019%20ESP.pdf

▪ http://www.minem.gob.pe/_estadisticaSector.php?idSector=1&idCategoria=10

▪ http://www.minem.gob.pe/_estadistica.php?idSector=1&idEstadistica=12501

▪ http://www.minem.gob.pe/_estadistica.php?idSector=1&idEstadistica=13273

INEI

▪ https://www.inei.gob.pe/biblioteca-virtual/publicaciones-digitales/

▪ https://www.inei.gob.pe/media/MenuRecursivo/publicaciones_digitales/Est/Lib1635/compendio2018.h tml

OSINERGMIN

▪ https://www.osinergmin.gob.pe/seccion/centro_documental/mineria/Documentos/Publicaciones/Osi nergmin-Industria-Mineria-Peru-20anios.pdf

▪ https://www.osinergmin.gob.pe/seccion/institucional/acerca_osinergmin/estudios_economicos/repor tes-de-analisis-economico-sectorial#

SNMPE

▪ https://www.snmpe.org.pe/mineria/legislacion.html

(20)

OTHERS

▪ https://www.gob.pe/institucion/rree/informes-publicaciones/442201-ey-peru-mining-and-metals- business-and-investment-guide-2020-2021

▪ https://cdn.www.gob.pe/uploads/document/file/530483/EY_Peru_s_Mining_and_Metals_Business_and_

Investment_Guide_2020-2021.pdf

▪ https://andina.pe/agencia/noticia-actividad-minera-peru-represento-9-del-pbi-ultimos-diez-anos- 763521.aspx

▪ https://www.usgs.gov/centers/nmic/mineral-commodity-summaries

▪ https://pubs.usgs.gov/periodicals/mcs2020/mcs2020.pdf

▪ https://www.camaralima.org.pe/vipcam1/Prensa/LaCamara/IEDEP_892.pdf

▪ https://www.americaeconomia.com/negocios-industrias/peru-preve-us12800m-de-inversion-minera- en-2020-y-2021

▪ https://www.plataformaintegraldemineria.org/sites/default/files/2019-

04/Formalizaci%C3%B3n%20Minera%20de%20Peque%C3%B1a%20Escala%20en%20Latinoam%C3%A9r ica%20Colombia%20Ecuador%20Per%C3%BA%20Bolivia_0.pdf

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Date of publication: 06/2020