Peru is known for being one of the world’s top producers of metals, copper, zinc and lead, but recent developments, according to Innspired, uranium will also be added to the list.
“An ongoing shift in the global energy sector away from fossil fuels is driving massive demand for uranium needed to fuel nuclear reactors around the world, and Peru just so happens to be sitting on untapped uranium resources”, Innspired informed.
Currently, Peru is working on the necessary legislation to allow legal transportation of uranium, which will make this country one of the few who does so in South America. “The nation is a founding member of the International Atomic Energy Agency — a requirement for any uranium producing or exporting nation — and has an independent nuclear agency, IPEN,” the aforementioned website explained.
The global nuclear sector is constantly growing. An example of this is the fact that there are 71 nuclear reactors being built at this moment on 12 different countries.
“Peru’s resource industry is set to benefit greatly from that uranium demand. To date, no uranium has been exported from the South American nation, but Plateau Energy Metals‘ (TSXV:PLU) Macusani uranium project has a 2015 resource estimate of 51.9 M lbs U3O8 measured and indicated as well as 72.1 M lbs U3O8 Inferred”, Innspired said.
Mining makes up to 10% of Peru’s GDP (Gross Domestic Product) and mined resources make up 60% of what the country exports.