Peruvian gold exports to the UAE reached $233 million in the first half of 2016, a 155 per cent increase compared to the same period in 2015.

Total gold shipments reached more than 7 metric tonnes in 2016, making the UAE the fourth largest destination for Peru’s gold exports, after Switzerland, Canada and US, said a statement.

Peru ranks as the world’s sixth biggest producer of gold and is the largest producer of the commodity in Latin America. Gold is the second most exported product for Peru after copper ore, it said.  

Rich in natural resources, Peru is a global leader in the mining industry. In addition to gold and copper, the country also ranks among the world’s top producers of silver, tin, zinc and molybdenum.

Alvaro Silva-Santisteban F, director of the Trade and Investment Office of Peru in the UAE, said: “Peru’s mining capabilities are top class. Although we are world leaders in the production of base and precious metals, only 13 per cent of our territory has been explored and only half of that has been mined.”

“Gold counts as one of the major re-exports for the UAE so demand for the commodity has always been high,” he said.

“The work of our office in generating the correct links and supporting commercial missions, and the appropriated international procedures Peruvian exporters follow, has likely influenced recent trade results,” he added.

Such activities include supporting international trade delegations attending the upcoming Expomina Peru 2016, a leading mining trade shows in the world, which will take place in Lima from the September 14 to 16, it stated. – TradeArabia News Service