Peru and Independent Gold Mining
- Government data shows there are in excess of 200,000 independent artisanal miners working across Peru, accounting for at least 20% of gold production = equating to $3 billion per year.
- The Government actively encourages responsible independent artisanal mining activities. In 2012 the Government introduced a “formalization” process to put an end to the extraction of illegal gold, the process was further extended in 2017 to encourage more independent artisanal miners to become formalized.
- Not enough national mineral processing plants in place to service the formalized independent mining community.
Titan sees this type of dynamic growth in the sector to be a unique and significant business opportunity and intends to provide a solution that will meet all stakeholders needs.