Structure of The Mineral Industry
Peruvian laws have attempted to ensure equitable mineral, crude oil, and gas exploration and production. Owing to these terms, an increased number of domestic and foreign companies, AngloGold Ashanti, Barrick Gold Corp., BHP Billiton plc., Cambior, Inc., Falconbridge Limited, Mitsui & Co., Ltd., Mitsubishi Corp., Peñoles, Teck Cominco Ltd., and others, have expressed interest in participating in prospection, exploration, production, and distribution of natural gas and petroleum contracts with Perupetro S.A. and mineral properties with Centromín. The structure of the Peruvian mineral industry continued to change owing to privatizations and joint-venture projects. The establishment of consortia in such deregulated industries as oil and gas, and joint ventures in energy and mining projects were becoming a common practice in Peru. According to the Ministerio de Energía y Minas, Peru was the seventh most attractive area for investments in exploration after, in order of investment attractiveness ranking, Tasmania (Australia), Nevada and Alaska (USA), Northwest Territories (Canada), Western Australia, and Indonesia.
The new operating process, which was the result of the privatization and joint-venture projects, incorporated policies that deal with economic and societal development issues and with environmental protection in a sustainable way. Private local interests owned most of the medium- and small-sized mining operations. More than 250 foreign mining companies have been established in Peru since 1990. Crude oil was transported through 1,754 km pipelines, natural gas and natural gas liquids through 983 km dual pipelines, and refined products through 13 km pipelines. Important mineral industry ports included Callao, Chimbote, Ilo, Matarani, Paita, Puerto Maldonado, Salaverry, San Martin, San Nicolas, and Talara on the Pacific Ocean and Iquitos Pucallpa and yurimaguas on the Amazon River and its tributaries. Peru had an installed electrical generating capacity of 5,050 megawatts (MW), about 80% of which was accounted for by hydroelectric plants. The Peruvian Government raised about $2 billion from the privatization of its electrical sector and committed to an investment of about $20 million to install an additional 1,006 MW of capacity in the immediate future. The energy mix, by source, was hydro (74.5%), fossil fuel (24.5%), and others (1.0%).
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