Peru's mining industry value will see average annual growth of 2.4% in 2014-2018, reaching USD21.4bn. Both domestic and international firms have projects in development, and the sector presents promising growth opportunities for miners of a wide array of minerals.

BMI Industry View 7

SWOT 10

Industry Forecast 12

Copper: Growth Ahead Despite Environmental Concerns 12

Heady Growth To 2018 12

      Table: Peru - Select Copper Projects 13

Downside Risks Remain 14

      Table: Copper Production Forecast (Peru 2010-2018) 15

Gold: Subdued Production Growth To Resume In 2015 15

Sector Remains Vulnerable Over The Coming Quarters 17

      Table: Gold Production Forecast (Peru 2010-2018) 17

Lead: Modest Growth In Coming Years 17

Positive Price Outlook, But Financing Crucial 19

      Table: Lead Production Forecast (Peru 2010-2018) 19

Silver: Peru To Remain Second In Americas 20

      Table: Peru - Key Silver Projects 21

Challenges To Persist 21

      Table: Silver Production (Peru 2010-2018) 22

Tin: Production Declines To Continue 22

Minsur To Benefit From Tin Market Dynamics 23

      Table: Tin Production Forecast (Peru 2010-2018) 24

Zinc: Peru To Maintain Dominance In The Americas 24

      Table: Peru - Key Zinc Projects 26

      Table: Zinc Production Forecast (Peru 2010-2018) 26

Industry Risk Reward Ratings 27

Americas Risk/Reward Ratings 27

Significant Rewards For Some, But Risks Abound 27

Weaker Prices To Remain Headwinds 28

Modest Shift In Rankings 29

      Table: Americas - Mining Risk/Reward Ratings 30

Risk/Reward Ratings 30

Rewards 31

Industry Rewards 31

Country Rewards 31

Risks 32

Industry Risks 32

Country Risks 32

      Table: Mining Industry Forecasts (Peru, 2012-2018) 33

Regulatory Development 34

Recent Developments 34

Balancing Between National & Local Goals 34

Open Investment Framework 34

Tax Regime 35

Endemic Corruption 35

      Table: Peru - Political Overview 36

      Table: Regional Regulatory Index 37

Commodities Forecast 38

Commodity Strategy 38

Ferrous Metals: 38

Steel: Prices To Remain Subdued 40

Non-Ferrous Metals: 41

Aluminium: Price Strength To Continue In Q314 41

Copper: Further Decline By Year's End 42

Lead: Constructive Price Outlook 43

Nickel: Moderation To Continue 44

Tin: Upside Ahead 45

Zinc: Consolidation Before Multi-Year Gains 47

      Table: Select Commodities - Performance & BMI Forecasts 48

Competitive Landscape 50

      Table: Financial Data - Key Mining Firms Listed In Peru 50

Gold & Silver Prospects Remain Tenuous 51

Company Profile 52

Buenaventura 52

Latest Results 54

      Table: Buenaventura - Key Financial Data 54

Glencore Xstrata 55

Company Overview 56

Latest Financial Results 57

Company Strategy 57

      Table: Glencore Xstrata - Supply Chain Analysis 59

      Table: Glencore Xstrata - Key Financial Data 60

Grupo México 61

Company Overview 62

Company Strategy 62

Latest Results 63

      Table: Grupo México - Key Financial Data 63

Address Details 64

First Quantum 65

Latest Results 68

      Table: First Quantum: Key Financial Data 68

Regional Overview 70

Mexico & Peru To Remain Top Destinations 70

Canada To Lead North American Mining 72

Frontier Markets To See Little Development . 74

...But Green Shoots In Argentina? 75

      Table: Estimated 2014 Production For Top Argentine Mines 76

Chinese Investment To Continue 76

Global Industry Overview 78

Capex Cutbacks To Yield Rewards 78

M&A Activity To Pick Up 80

High Grade Opportunities In Iron Ore 80

Shifting Centre Of Growth For Platinum 81

Chinese & Indian Outbound Mineral Investment To Gather Pace 82

Shake-Up For Global Rare Earths Industry 83

Methodology 85

Industry Forecast Methodology 85

Sources 86

Risk/Reward Rating Methodology 87

      Table: Weighting Of Indicators 88

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