Peru's PM: Mining investment to total US$4.8 billion in 2020, US$6 billion in 2021

"In the case of the mining sector, we will continue promoting investment through enhancements in the regulatory framework. For this year, mining investment is expected to reach an estimated goal of US$4.8 billion, and US$6 billion in 2021," he expressed.

Cateriano highlighted that regional governments currently rely on more than S/13 billion (over US$3.683 billion) from mining canon that they have not yet executed, despite the existing needs.

"To overcome the deficient management of these economic resources, it has been agreed to issue an urgency decree that will allow an expeditious use of this money in health and potable water (services)," he stated.

The Prime Minister also announced the issuance of another urgency decree to exceptionally empower the Ministry of Energy and Mines to finance pre-investment studies and technical files of public investment projects by regional and local governments, mainly in the mining corridor during the current fiscal year.

"This (will be done) in order to guarantee an agile and efficient execution of the resources allocated to them through different sources. This will reduce infrastructure and service gaps within various regional and local governments located in mining or energy-investment zones, and thus contribute to the economic reactivation of the country," he assured lawmakers.