Fresh prospects for Australian METS in Peru
03 Dec 2021
Latin America’s premier mining convention, PERUMIN, will partner with Australia in 2022. This is the first time the Lima-based event will partner with an overseas country.
The September 2022 PERUMIN convention will be a major opportunity to showcase Australian METS. And it comes as Latin American experiences a boom in mining investment – including in neighbouring Chile.
The Peruvian Institute of Mining Engineers (IIMP) announced the decision following a September conference. Australian Minister for Resources and Water, the Hon. Keith Pitt, took part.
Peru: South America’s major miner
The mining industry in Peru is growing quickly. According to local sources, a strong pipeline of new mines is now under construction. Foreign investors are attracted by low energy and operating costs, and the country’s diverse mineral base.
Peru is the world’s second largest producer of copper, according to an investment guide published by EY in 2020. The country is also a major producer of gold, silver and zinc.
Mining accounts for around 10% of Peru’s gross domestic product and 59% of the country’s exports.
The Ministry of Energy and Mines (MINEM) forecasts 46 major mining construction projects over the coming decade. This pipeline includes new mines, expansions and reprocessing of tailings. The total value of forecast projects is over A$76 billion. (Source: MINEM Pipeline of Mine Construction Projects, September 2021.)
Opportunities for Australian METS
Strong investment creates fresh prospects for Australian METS exporters across all facets of Peru’s mining industry. For example, Austrade advisers say that Peruvian miners are also keen to improve remote operations and to speed up digital transformation plans.
Peruvian mining companies will be interested technologies that can identify efficiencies and boost production, say advisers.
Governance and social-licence issues are also triggering investment. Mining companies in Peru are focussing on environmental, social and governance (ESG) issues. They want to maintain healthy relations with stakeholders and improve their environmental footprint.
Australian investment in Peru now at recent highs
Australian interest in mining in Peru is surging, say Austrade advisers in Latin America. BHP, Rio Tinto, Orica and Ausenco already have a presence in the country.
Smaller Australian companies have a growing presence too. Around 80 Australian mining-related companies have a footprint in the country. This includes Imdex, ALS, Maptek, Austin Engineering, Hofmann, Groundprobe, MST Global and Mining Plus.
According to Austmine, almost one in five Australian METS exporters now do business with Peru. In 2013 the number was one in ten.
PERUMIN is valuable networking opportunity
The 2022 convention will give attendees excellent exposure, say Austrade advisers. They describe PERUMIN as a conference-led mining event. It will involve all levels of the Peruvian mining community. The Peruvian President is scheduled to attend.
The scale of the event will give Australian companies access to key decision-makers. Advisers predict that decision makers will be proactive at the convention, and that business will get done. They report that attendance has generated strong outcomes for Australian companies in previous years.
Attendance in 2022 is forecast to be high. PERUMIN typically attracts over 65,000 participants from 50 countries. In previous years, this included mining and tech companies from Canada, Chile, Germany, South Africa, Spain, the UK and the US.
Austrade can help Australian METS participate in PERUMIN
Austrade has helped to organise Australian participation in PERUMIN since 2003. Our ‘Partner Country’ status in 2022 will provide a platform for Australia to showcase its world class METS sector.
It will also help Australian METS to build partnerships with Peruvian miners.
If you are interested in joining the Australian presence at PERUMIN 2022 please contact: email@example.com