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Michiquillay mining project proves investors' confidence in Peru


Ministra de Economía y Finanzas, Claudia Cooper.

Ministra de Economía y Finanzas, Claudia Cooper.

11:44 | Lima, Feb. 21.

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).

"The awarding of Cajamarca-based Michiquillay mining project shows that Peru generates confidence, as a mining destination, among investors," the minister expressed.

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.

She also underlined the importance of mining activity to Peruvian economy's growth and development

"We reaffirmed the Government's commitment to mining investment as one of the keys for Peru's economic development," she concluded. 

(END) MDV/MDV/FGM/MVB


Publicado: 21/2/2018