PERU

An unprecedent mining boom is on the cards inPeru as foreign investorsmake a beeline to grab theopportunities. Foreign investment had come to a standstill since 1970 because of thegovernments nationalisationprogrammes and terroristactivities by the dreadedShining Path guerillas.Foreign investors have takenheart at the recent reformsintroduced by PresidentFujimori that have in onefull sweep led to privatisation moves to raise us$2.3 billion, as well as curbedterrorism.

Government officialsestimate that the value ofannual metal production inPeru would more than double, from us $2 billion tous $5 billion, over the next10 years.