The awarding of Michiquillay mining project is a sign of investors' confidence in Peru, Economy and Finance Minister Claudia Cooper said.
As is known, Southern Peru Copper Corporation on Tuesday won said bidding process
by presenting a US$400 million transfer price, and higher royalty payments (3%). Thus, it exceeded Milpo company's offer (US$250 million + 1.875% in royalties).
Likewise, she stressed this achievement will demand the Peruvian State to work in order to guarantee legal stability, as well as social peace.
"This is the start of a set of projects that will boost the mining sector
, including Quellaveco (Moquegua region), Mina Justa (Ica), Corani (Puno), and the expansion of Toromocho (Junin)," the official added.
"We reaffirmed the Government's commitment to mining investment as one of the keys
for Peru's economic development," she concluded.