Mining & EnergyStatistical Report

2007

Presentation

The Mining & Energy sector has positioned as the most important activities that leads the economic and social development of Per, because mining, hydrocarbons and electricity - that are made in a decentralized way - represent the opportunity of progress for the regions and communities, as they generate private investments which means more production and new jobs.

The evolution of the main numbers that allow us to know what the Mining-Energy sectors do is compiled by the Sociedad Nacional de Minera, Petrleo y Energa (SNMPE), through its publication Mining & Energy Statistical Report, document which in this moment shows information available up to 2007.

This document offers the necessary information to help the reader make his own analysis and evaluation of the real participation and impact of the mining, hydrocarbons and electrical sectors in the sustainable development of Peru.

Mining & EnergyStatistical Report

2007

EconomicIndicators

GDP

1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007

Series1 6.7% -0.4% 1.4% 3.6% 0.2% 5.2% 4.00% 4.80% 6.70% 8.03% 8.99%

-2.0%

0.0%

2.0%

4.0%

6.0%

8.0%

10.0%

GDP 1997- 2007 (% Variation)

Source: INEI

Agriculture7.60%

Fishery0.72%

Manufacturing15.98%

Construction5.58%

Commerce14.57%

Water0.41%

Other services39.25%

Taxes9.74%

Mining 3.71%

Oil0.96%

Electricity1.49%Mining-Eenrgy

Sector6%

Participation of the energy and mining sectorin the National GDP 2007

Source: INEI.

INFLATION

1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007

Series1 6.50 6.01 3.70 3.73 -0.13 1.52 2.48 3.48 1.49 1.14 3.93

0.00

1.00

2.00

3.00

4.00

5.00

6.00

7.00

8.00

Annual Inflation, 1997-2007(% Variation)

Source: INEI

-1.0

0.0

1.0

2.0

3.0

4.0

5.0

jul-0

3

sep-

03

nov-

03

ene-

04

mar

-04

may

-04

jul-0

4

sep-

04

nov-

04

ene-

05

mar

-05

may

-05

jul-0

5

sep-

05

nov-

05

ene-

06

mar

-06

may

-06

jul-0

6

sep-

06

nov-

06

ene-

07

mar

-07

may

-07

jul-0

7

sep-

07

nov-

07

Accumulated Inflation of 12 previous months,july 2003 - december 2007

(% variation)

Source: INEI

EXTERNAL SECTOR

1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007

Series1 10,169 9,184 8,404 8,180 8,613 9,598 10,194 12,631 14,097 17,275 27,689

0

5,000

10,000

15,000

20,000

25,000

30,000

Net International Reserves, Million US$ (1997- 2007)

Source: Central Bank

0

100

200

300

400

500

600

700

800

900

ene99

abr99

jul9

9

oct99

ene00

abr00

jul0

0

oct00

ene01

abr01

jul0

1

oct01

ene02

abr02

jul0

2

oct02

ene03

abr03

jul0

3

oct03

ene04

abr04

jul0

4

oct04

ene05

abr05

jul0

5

oct05

ene06

abr06

jul0

6

oct06

ene07

abr07

jul0

7

oct07

(Basic

Score)

PDIStippedSpreadCountryRisk:19992007

Source: Reuters.

BALANCE OF TRADE

1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007

Exports 6,824 5,757 6,087 6,951 7,007 7,647 8,863 12,547 17,336 23,749 27,433

Imports 8,567 8,262 6,793 7,407 7,273 7,440 8,431 9,818 12,076 14,896 19,409

0

5,000

10,000

15,000

20,000

25,000

30,000

Peruvian Balance of Trade, 1997-2007 (Million US$)

Source: Central Bank

Minig61.7%

Oil and By-products

8.6%

Fishery5.4%

Agriculture1.7%

Others22.7%

Structure of Exports, 2007

Source: Central Bank

MiningSector

PRODUCTION

MINING METALLIC PRODUCTION 1997 - 2007

(Units of fine content)

PRODUCT \YEAR

COPPER(TM)

LEAD (TM)

ZINC (TM)

SILVER (Kg)

GOLD (Kg)

IRON (TLF)

TIN (TM)

1997 506,498 262,466 867,691 2,090,311 79,117 2,960,165 27,9521998 483,338 257,713 868,757 2,024,570 94,214 3,230,431 25,7471999 536,387 271,782 899,524 2,231,390 128,486 2,672,630 30,6182000 553,924 270,576 910,303 2,437,706 132,585 2,645,991 37,4102001 722,035 289,546 1,056,629 2,673,834 138,022 3,038,401 38,1822002 843,213 297,704 1,221,830 2,686,563 157,013 3,056,055 38,8152003 842,578 308,874 1,372,790 2,920,922 172,619 3,484,900 40,2022004 1,035,574 306,211 1,209,006 3,059,829 173,219 4,247,174 41,6132005 1,009,898 319,345 1,201,671 3,193,146 207,822 4,564,898 42,1452006 1,048,897 313,325 1,201,794 3,470,725 203,286 4,784,601 38,4702007 1,190,281 329,154 1,444,354 3,493,909 170,127 5,103,597 39,019

Source: Ministry of Energy and Mines

Variation %COPPER

(TM)LEAD (TM)

ZINC (TM)

SILVER (Kg)

GOLD (Kg)

IRON (TLF)

TIN (TM)

2007/2006 13.5% 5.1% 20.2% 0.7% -16.3% 6.7% 1.4%

VARIATION

QUOTATIONS

QUOTATIONS OF MAIN MINING PRODUCTS, 1997-2007

COPPER LEAD ZINC SILVER GOLD TINTERM LME LME LME Handy & Harman London Final LME

US$/TM US$/TM US$/TM US$/Oz.Tr. US$/Oz.Tr. US$/TM1997 2,275.70 624.13 1,318.37 4.88 331.29 5,645.821998 1,652.88 528.42 1,023.26 5.53 294.07 6,540.581999 1,573.66 502.24 1,077.32 5.25 278.57 5,400.872000 1,814.26 454.22 1,128.11 5.00 279.10 5,434.762001 1,577.77 476.00 886.27 4.39 271.04 4,483.252002 1,557.50 452.58 778.56 4.62 309.68 4,061.692003 1,779.87 515.66 828.39 4.91 363.32 4,896.262004 2,865.89 886.47 1,047.75 6.68 409.21 8,512.732005 3,678.70 976.46 1,379.79 7.33 445.10 7,152.832006 6,730.60 1,287.49 3,272.62 11.58 603.77 8,620.112007 7,118.27 2,579.85 3,243.86 13.41 697.15 14,382.13

Source: London Metall Exchange

Var % COPPER LEAD ZINC SILVER GOLD TIN2007 / 2006 5.8% 100.4% -0.9% 15.8% 15.5% 66.8%

VARIATIONS

EXTERNAL SECTOR

PRODUCT / YEAR COPPER LEAD ZINC SILVERA IRON GOLD TIN OTHERS TOTAL

1997 1,096.3 237.0 539.2 104.8 76.5 500.1 133.2 43.4 2,730.51998 778.8 208.7 445.2 130.6 96.4 928.5 118.6 39.9 2,746.71999 776.3 177.1 462.4 169.3 66.7 1,192.5 132.9 30.8 3,008.02000 932.6 190.4 495.8 179.5 66.6 1,144.7 166.3 40.4 3,216.22001 985.9 196.0 419.4 168.6 81.4 1,166.2 130.3 38.8 3,186.52002 1,187.1 210.8 428.9 173.7 82.9 1,478.8 102.8 69.4 3,734.42003 1,260.5 201.3 528.7 191.0 94.1 2,044.7 151.4 101.5 4,573.32004 2,446.0 389.1 576.8 260.2 128.4 2,383.1 350.7 418.8 6,953.12005 3,360.3 491.4 805.1 280.6 216.1 3,165.5 269.8 1,170.7 9,759.52006 6,034.4 712.6 1,991.3 478.6 256.0 4,048.3 332.1 862.4 14,715.72007 7,240.9 1,033.0 2,532.8 537.5 285.4 4,024.6 252.5 1,009.3 16,915.9

Source: Central Bank

Product /Variation % COPPER LEAD ZINC SILVER HIERRO GOLD TIN OTHERS TOTAL

2007/2006 20.0% 45.0% 27.2% 12.3% 11.5% -0.6% -24.0% 17.0% 15.0%

Source: Central Bank

Exportations of main mining products 1997-2007(Million US$)

VARIATIONS

Tin1.5%

Molibdenum5.7%

Others0.3%

Copper42.8%

Lead6.1%

Iron1.7%

Zinc15.0%

Silver3.2% Others

23.8%

Mining Exports2007

COPPER (PERU: 3 worldwide producer 7.62% of the worldwide production)

0200,000400,000600,000800,000

1,000,0001,200,0001,400,000

1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007

Metallic Mining Production, 1997-2007 (f tonne)

Source: Ministry of Energy and Mines

1,0002,0003,0004,0005,0006,0007,0008,000

1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007

Quotation, 1997-2007 (US$/TM)

Source: London Metal Bulletin

40,000140,000240,000340,000440,000540,000640,000740,000840,000

1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007

Stocks LME, 1997-2007 (TM)

Source: London Metal Bulletin

COPPER

Southern30%

Antamina29%

XstrataTintaya10%

CerroVerde23%

Others8%

Main Producer Companies, 2007

(*) The data of production correspond to processes of concentration and hydrometallurgical process. Source: Ministry of Energy and Mines

LEAD (PERU: 4 worldwide producer 9.29% of the worldwide production)

150,000175,000200,000225,000250,000275,000300,000325,000350,000

1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007

Metallic Mining Production, 1997-2007 (f tonne)

Source: Ministry of Energy and Mines

300600900

1,2001,5001,8002,1002,4002,700

1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007

Quotation, 1997-2007US$/TM

Source: London Metal Bulletin

20,00045,00070,00095,000

120,000145,000170,000195,000

1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007

Stocks LME, 1997-2007TM

Source: London Metal Bulletin

LEAD

Atacocha4%

Volcan 26%

El Brocal12%

Quenuales7% Chungar

9%

Milpo5%

Others37%

Main Producer Companies2007

(*)The data of production correspond to processes of concentration. Source: Ministry of Energy and Mines

ZINC (PERU: 3 worldwide producer 14.