PERU

An unprecedent mining boom is on the cards in Peru as foreign investors make a beeline to grab the opportunities. Foreign investment had come to a standstill since 1970 because of the governments nationalisation programmes and terrorist activities by the dreaded Shining Path guerillas. Foreign investors have taken heart at the recent reforms introduced by President Fujimori that have in one full sweep led to privatisation moves to raise us $2.3 billion, as well as curbed terrorism.

Government officials estimate that the value of annual metal production in Peru would more than double, from us $2 billion to us $5 billion, over the next 10 years.