National Society of Mining, Oil, and Energy (SNMPE) Chairman Luis Marchese affirmed his guild will support the newly-appointed Ministerial Cabinet —led by Cesar Villanueva— since there is confidence that mining and energy investments will be boosted in the Inca country.
According to the officer, the Peruvian
mining industry is likely to enter a growth phase due to higher metal prices on international markets.
"This helps mining companies rely on possibilities to invest and, at this moment, they are deciding where to invest in," Marchese told Andina news agency.
It must be noted
mining investment in the Inca country reached US$6.825 billion in 2015, followed by US$3.334 billion (2016), and US$3.928 billion (2017).
"We think
2018 investments will be higher than in 2017. They are expected to reach US$6 or US$7 billion (…)," Marchese noted.
The SNMPE officer also pointed out that —given the increase in metal prices— sector's companies "are starting to review projects," although this is a process that takes time.
"This year, some projects will be implemented. Yet, we expect to have more
investments in 2019 and 2020," he concluded.
(END) MDV/JJN/JAA/MVB