The global pet care market is foretold to improve in the forthcoming years as matched to the preceding years and will showcase better sales in various market segments. It is estimated that the global pet care market will grow at a CAGR o…
BMI View: Peru's mining industry will be a regional growth outperformer, supported by a strong copper
project pipeline, low operating costs and a favourable business environment over the coming years.
Latest Updates & Structural Trends
? Peru's extractive industry will experience significant growth over our forecast period to 2020. We expect
the sector's value to climb from USD22.3bn in 2016 to USD31.3bn by 2020, averaging 8.4% annual
growth. In particular, we expect copper to outperform in terms of production growth due to a strong
project pipeline and continued investment. Silver and gold will also benefit from a number of key
projects and improving precious metals prices, while tin and zinc output posts slower growth. The
country will remain a top global producer of each of these minerals.
? Peru's copper production continues to outpace expectations, prompting another increase to our growth
forecast. We now expect the country's copper production to increase by 38.0% to 2.2 million tonnes
(mnt) in 2016, from the previous forecast of 18.0% growth. Projects including MMG's Las Bambas,
Freeport McMoRan's Cerro Verde expansion, and Hudbay Minerals' ramp up at the Constancia mine
will continue to drive growth over the next few quarters, helping Peru overtake China as the world's
second largest copper producer by the end of the year.