Perú produces 109 tonnes of gold annually while exporting 209 tonnes, exposing a widening

Peru produces 109 tonnes of gold annually while exporting 209 tonnes, exposing a widening extraction gap driven by illicit mining. According to estimates from the Instituto Peruano de Economía (IPE), 54% of the gold exported by the country in the first semester originated from illegal sources, surpassing legal shipments for the first time. The difference already borders on 8.7 tonnes, and if the trend continues, illegal exports could reach between 110 and 120 tonnes by the end of the year, with an estimated value of between US$ 16,000 and US$ 18,000 million, representing nearly 4% to 5% of the national GDP. Rafael Belaúnde, head of the Ministry of Defense (Mindef), indicated that informal and illegal gold mining moves more than US$ 12,000 million, surpassing formal mining production, and noted that processing plants declare more than double what mines report, which evidences the entry of material of non-formal origin into the commercial circuit. In 2025, illegal gold exports were estimated at US$11.500’000.000, while in 2026 they are calculated to fluctuate between US$16.000’000.000 and US$18.000’000.000, a sector that also affects the treasury with S/100’000.000 in unpaid taxes. The price of gold has risen from US$ 1,812.69 per ounce at the end of 2021 to fluctuate between US$ 4,010 and US$ 4,025.

Criminal networks exploit high gold prices and weak traceability

Andrea Agudelo, regional coordinator of the anti-corruption and economic crimes area at the United Nations Office on Drugs and Crime (UNODC), noted that the illegal gold supply chain relies on high prices, low oversight, weak traceability, corrupt officials, heavy cash usage, weapons trafficking, and environmental crimes such as illegal logging. Minister Belaúnde added that the main environmental impact is the indiscriminate use of mercury employed to process gold, and warned that criminal organizations have shifted part of their drug trafficking financing to the protection of mining dredges in border areas. The Violent Crime Index (IDCV) of the Crime and Violence Observatory finds that out of the eight regions with the worst results, seven have intense illegal mining activity.

Authorities target criminal finances within formal commercial channels

Criminal networks operating within the mining sector attempt to disguise illicit profits by integrating into formal commercial channels. Raúl Hoyos de Vinatea, high commissioner of the Presidency of the Council of Ministers (PCM) for the fight against illegal mining, emphasized that authorities must target criminal finances and ownership structures rather than focusing solely on field operations. A pending request is that the Financial Intelligence Unit (UIF) be explicitly involved in detecting suspicious operations linked to illegal mining. Meanwhile, the Ministry of the Interior reported in an official Sunday report that the Corah Special Project and the PNP eradicated 34,182.14 hectares of illegal coca, surpassing the official target of 34,123.63 hectares fixed for this year across 10,820 parcels in regions such as Ucayali, Huánuco, Loreto, San Martín, and Amazonas, alongside the destruction of five rustic laboratories.

Legislative Debates on Asset Seizure

César Ipenza, an attorney specializing in environmental crimes, asserted that the state must expand asset forfeiture and prioritize property confiscation. The original asset forfeiture law, issued in 2018, underwent modifications under Law 32326 in 2025. Janet Tello, president of the Judiciary, criticized those legislative changes for weakening the core of the asset recovery system. Subsequently, the Justice and Human Rights Committee of the Chamber of Deputies approved a draft bill to amend Legislative Decree 1373 on asset forfeiture by an 11-to-8 vote with one abstention. This proposal aims to restore the independence of forfeiture proceedings from criminal trials, allowing the state to recover illicitly acquired property without awaiting a final criminal conviction. However, legislative progress faces complications in Congress because Juntos por the Perú formed a Reinfo bloc composed of illegal miners, alongside other groups.

Peru produces fewer tonnes of gold than it exports

What is the volume gap between gold production and exports in Peru?

Peru produces 109 tonnes of gold annually while exporting 209 tonnes, creating a significant gap that highlights the scale of illicit extraction.

What role does UNODC attribute to the formal commercial chain?

UNODC specialist Johnn Jananpa stated that illegal mining operates within formal commercial channels to hide the illicit origin of the metal.

What legislative action was recently taken regarding asset forfeiture?

The Justice and Human Rights Committee of the Chamber of Deputies approved a bill to modify Legislative Decree 1373, aiming to restore the autonomy of asset forfeiture from criminal proceedings.

How effectively can financial intelligence disrupt criminal organizations embedded in formal export chains?