Rio Tinto welcomes Peru-Australia Free Trade Agreement

10 November 2017

Rio Tinto has welcomed the conclusion of Free Trade Agreement (FTA) negotiations between Peru and Australia, announced at the Asia Pacific Economic Cooperation (APEC) summit in Vietnam.

Peru has been one of the fastest growing economies in Latin America, and the world, over the last decade. A Peru-Australia FTA will support Australian business gain access to significant opportunities presented by that growing market.

Rio Tinto sees Peru as an attractive destination for investment with exploration resources in the country since 1990. In 1994, the company started exploration of copper deposits, although it has also explored iron, zinc, borates and precious metal deposits. Rio Tinto has also contributed to the discovery of several ore deposits in Peru, in areas including Pampa de Pongo, Carhuacayan, Yanque-Accha, Pukaqaqa, El Aguila, Justa, Constancia, Corani and Ollachea.

Removing impediments and trade barriers will encourage Australian mining investment in Peru with strong protections for private investors which are crucial for long-term capital intensive projects. Rio Tinto hopes to see similar agreements in other countries in South America, which remains a key region for Australian investment.