How to Play Peru's Metals Mojo

When most people think of Peru, they envision Macchu Picchu in its unlikely aerie on a slope of the Andes. When investors think of Peru, mountains enter the picture, too. Their vision holds no mystery, though -- they're seeing mountains of metals.

Peru's mining industry is huge. While the country ranks 47th in terms of gross domestic product (GDP), falling between Algeria and Kazakhstan, it ranks fifth in the production of gold, and third in silver and copper. Last year, the companies in the Lima General Index that mine metals helped drag it down 25 percent; this year, they've helped it gain 10 percent.