Peru

High Risk

Peru · Country · Last assessed Apr 2026

Composite Score 12/25

Higher = lower risk. 22–25 LOW · 18–21 MODERATE · 13–17 ELEVATED · 8–12 HIGH · 5–7 EXTREME.

Permitting Timeline & Predictability

2/5

MINEM process technically capable but social-licence delays are routine.

Fiscal Regime Stability

3/5

Royalty and tax stable but social-conflict-driven payments common.

Political & Security Risk

2/5

High political instability — multiple presidents in recent years; congressional gridlock.

Infrastructure & Power

3/5

Mature in established districts; greenfield access often via dedicated build-out.

Indigenous, Community & ESG

2/5

Community blockades are a structural risk; consulta previa often inadequate to prevent disputes.

Assessment Summary

Peru hosts world-class copper, gold, silver, and zinc endowment — Antamina, Yanacocha, Cerro Verde, Las Bambas. The technical regulator (MINEM) is one of the most capable in Latin America and the country's macroeconomic management has historically been orthodox.

The systemic risk is sub-national: community blockades have caused multi-month production shutdowns at Las Bambas, Antamina, and other large operations. Consulta previa processes often fail to prevent disputes from escalating, particularly in highland (Apurímac, Ayacucho, Puno) districts. Combined with chronic political instability at the national level, Peru remains a jurisdiction where deposit quality must compensate for elevated execution risk.

Jurisdiction risk is one input — geology, capital structure, and management still matter. See the Verdict Framework for full company scorecards.