This EITI Report covers Peru's extractive sector in 2015 and 2016. It was published in 2018.
During 2015 and 2016 the extractive industries contribution to the national economy continues to be significant, accounting for between 12% and 13% of GDP. Rapid expansion of the oil, gas and mining sectors in Peru has yielded almost 50 billion USD in government revenues within 13 years, between 2004 and 2016. According to the 2015-2016 EITI Report, Peru is the second largest producer of copper in the world and this production has more than doubled in the past two years. This has helped the government achieve important improvements in social and development indicators and enhanced economic growth and stability. Poverty levels were reduced from 42.4% in 2007 to 20.7% in 2016. For more economic and social indicators, see World Bank's data on Peru.
However, the negative impacts of the extractive industries are a major challenge. The report discloses the number of social conflicts in 2015 (1,385) and 2016 (1,383) and reveals that more than 80% of total environmental/social conflicts were related to the mining sector. The report provides a link (Social Conflicts) to reports by the Ombudsman Office, including further details of active and social conflicts.
In this context, Peru is using the EITI process to address key community concerns. For the first time, the 2015-2016 EITI Report provides extensive reporting on social and environmental issues.EITI Perú also has ambitious plans to provide more detail on the distribution and use of extractive industry revenues by regional and local authorities. For this purpose, the EITI process was recently established in the region of Apurímac, which accounts for around 20% of the copper produced in the country. Along with Moquegua, Piura and Arequipa, this is the fourth region to adopt an EITI process, with the goal to improve transparency and accountability in the use of the revenues flowing from the mining activity to the regions, municipalities and universities. EITI Peru is now exploring and proposing a deeper analysis of revenue management related to selected investment projects within the regions. This represents a key opportunity to build trust and dialogue in conflict-prone settings.
Peru is a leading producer of mineral commodities ranking second in copper, silver and zinc production worldwide. In Latin America, Peru ranks first in gold, zinc and lead production. Oil production has been declining since 2007. Natural gas and condensates are concentrated in the Camisea basin in central Peru.
Peru has rich deposits of copper, gold, silver, lead, zinc, natural gas and petroleum. Abundant mineral resources are found mainly in the mountainous areas. It is considered one of the top ten richest mineral countries in the world. The following chart shows reserves as of 2016:
Reserves (proven and probable)
|Oil||402,324||Thousand Million barrels|
|Liquified Natural Gas||240,518||Thousand Million barrels|
|Gold||2,400||Thousand metric tons|
|Copper||81,000||Thousand metric tons|
|Iron *||1,403,189||Thousand metric tons|
|Molybdenum||450||Thousand metric tons|
|Lead||6,300||Thousand metric tons|
|Zinc||25,000||Thousand metric tons|
*Data from 2015
Source: 2015-2016 EITI Report
Regional and municipal governments receive, via transfers from the central government, around half of the Peruvian state’s revenues from the extractive industries. The other half is allocated to the national budget. There are a number of online tools with information about the national budget including Execution of funds and National budget systems.
The EITI encourages multi-stakeholder groups to explore innovative approaches to make the EITI more relevant and useful. See below the highlights as of 2018, which are further described in the Overview above:
- The 2015-2016 EITI Report included, for first time, social an environmental aspects.
- The last report included a description of roles and general information on State-owned enterprises acting in the oil and gas sector.
- In 2018, the region of Apurimac established a new EITI process.
- With four regions already implementing the EITI, the national multi-stakeholder group is now exploring and proposing a deeper analysis of revenue management related to selected investment projects within the regions.
Peru was found to have achieved meaningful progress in implementing the EITI Standard. View more information under the Validation section of this page or go to the Board's decision in full. Previously, the country was compliant under the 2011 Rules.
Peru has produced a roadmap for the disclosure of the beneficial owners as per EITI Requirement 2.5 ahead of the deadline of 31st December 2016. Peru published its 2015-2016 EITI Report in February 2018.
EITI Peru hosted the 7th EITI Global Conference in February 2016.
On 12 May 2006, the Government of Peru published an Executive Decree that created an EITI Working Group which represents the entire stakeholder’s constituency, and provides a legal basis to the implementation of EITI. The mandate of this working group was renewed by Presidential Decree 5 September 2008. In 2011, the EITI working group was given permanent status by Decree No.28-2011-EM of 11 June.
The EITI National Committee (called Comision Multisectorial Permanente del EITI, in Spanish) is chaired by EITI Champion Ricardo Labó, Vice-Minister of Mines from the Ministry of Energy and Mines and integrated by:
Technical Secretariat: Fernando Castillo - Ministry of Energy and Mines
Government: Hugo Oropeza - Ministry of Finance DG Social Management
Civil Society - Universities: Ana Sabogal - Pontificia Universidad Católica del Perú
Civil Society - NGOs: Epifanio Baca - Grupo Propuesta Ciudadana; and Vanessa Cueto - Derecho, Ambiente y Recursos Naturales (DAR)
Industry - Association: Carmen Mendoza and Julio Luján - Sociedad Nacional de Mineria, Petroleo y Energia
Industry - Companies: Carlos Aranda - Southern Peru Copper Co.; Eduardo Rubio - Anglo American; and Jorge Luis Mercado - Repsol
Peru was found to have made meaningful progress in meeting the EITI Standard on 11 January 2017. The country needs to take corrective actions on a number of requirements and will be validated again on 1 July 2018 (Second Validation) according to an extension requested and granted by the Board on 13 February 2018.
Peru's progress by requirement can be found in the scorecard below.
This is Peru's 2016 Annual Progress Report in accordance to requirement 7.4 and 8.4.
Peru's Validation commenced on 1 July 2016. On January 11 2017, the EITI Board found that Peru has made meaningful progress in implementing the 2016 EITI Standard.
The following documentation laid the basis for the Board's decision, attached below:
This EITI Report covers Peru's extractive sector in 2014. It was published in 2016.
This is Peru's work plan, which was submitted by the EITI Peru national secretariat. The work plan includes the objectives and priorities for EITI implementation and associated activities.
The EITI Standard Requirement 1.5 e) requires countries to make it available to the public.
This is Peru's 2015 Annual Progress Report in accordance to requirement 7.4 and 8.4.
This EITI Report covers Peru's extractive sector in 2013. It was published in 2014.
This Peru EITI Secretariat Review was published in January 2012.
This Peru EITI Validation report was published in September 2010.
Mr Fernando CASTILLO TORRES
Fernando Castillo Torres serves as the General Director of the Social Management Office attached to the Ministry of Energy and Mining. He is an economist and holds a Master’s degree in Political Science with specialisations in Public Policy,
Santiago J. Dondo
Santiago J. Dondo is an expert in law and public policy related to the extractive industries. He is the Regional Director for Latin America and the Caribbean at the EITI.