Updates on (legal) mining in Peru

Peru’s export numbers for the month of October were recently released, and they don’t look good. In terms of mineral and metal exports, Peru’s exports have fallen drastically, due to both a decline in production and a decline in prices. The worst performers were gold and silver exports, falling by 23.2% and 74.3% respectively from their totals in October 2013. To provide some context, Peru was actually the worst performer in Latin America, with exports falling overall by 10%. However, there was a hint of good news. While exports of raw commodities were down almost across the board, non-traditional exports actually increased 6.9%. Nonetheless, the mining sector by is the main driver of Peru’s economy, so the Peruvian government will be hoping that the industry’s numbers are better for the rest of 2014.

In related news, the Presidency of the Peruvian Council of Ministers met in Lima on Monday, and was attended by Peruvian President Ollanta Humala, President of the Council of Ministers Ana Jara, Interior minister Daniel Urresti, Justice minister Daniel Figallo, Congress President Ana Maria Solorzano, Judicial Chairman Enrique Mendoza, Attorney General Carlos Ramos Heredia, Comptroller of the Republic Fuad Khoury, and Chairman of the National Elections Jury Francisco Tavara. At the meeting, the assembled officials discussed enforcing laws related to national security, specifically combatting illegal mining and drug trafficking.