Friday, 7th May 2004 (4189 views)

Gold jewellery exports and manufacturing are hoped to double by 2010 in Peru through new export plans.

Government and industry officials revealed that Peru hopes to increase the export and production of the precious metal to $200 million a year, hoping to secure a place as the fifth biggest gold producer in the world.

Gianni Nichele, general manager of Silmar, one of the 10 biggest producers of gold chains in the world told Reuters: "We want to be producing 10 tonnes of jewellery a year within 5 years in Peru."

"We expect a 15 percent rise in jewellery exports this year, and then the idea is to maintain a yearly rise of 20 percent," Juan Carlos Mathews, director of international trade development for the Trade Ministry added.

Peru has new mines coming into line and under new rules gold will be exchanged on a local commodities market for the first time.

One new venture between Silmar and Chilean firm De Oro is set to help gold figures, as Silmar would buy gold from Peru's Yanacocha mine and bring gold chain equipment to Peru.

At present Peru is the sixth biggest gold producer in the world, with current jewellery exports worth around $56 and $95 million.

 

« Back to the stories

 

The news feeds on this site are independently provided by Adfero Limited © and do not represent the views or opinions of the World Gold Council.