The price of copper —Peru's top export product— has neared US$3 per pound on the international market, thus increasing investors' appetite for the red metal and other elements.
On the matter, National Society of Mining, Oil and Energy (SNMPE) President Luis Marchese said
mining investment sees positive signals.
"Copper price has increased to about US$2.9 per pound. Plus, exploration investment has risen 28% in the first half of 2017, from the same period in 2016," he told El Peruano official gazette.
As is known,
mining exploration investment reached US$151 million in Jan-Jun 2016, down 34.4% over the same period a year before, when the investment portfolio totaled US$231 million.
This way, the 28% rise shows a sign of recovery in the mining exploration sector.
"There are positive expectations about the zinc price, which has gone up nearly 50% since last year. I think it has already exceeded US$3,000 a ton. Therefore, the market is expected to lure more investment," Marchese stated.
(END) MDV/JJN/RMB/MVB
Published: 8/21/2017