Mining investment amounted to US$6.157 billion in 2019, its highest level in four years, driven by increased expenditure in development and preparation (51.2%) as well as mining equipment (57.7%) sectors, marking the third year of consistent growth,
Central Reserve Bank of Peru (BCR) reported on Wednesday.
Concerning mining companies, Anglo American ranked first with its
Quellaveco copper project (Moquegua region), accounting for 21.8% of total investments, followed by Marcobre (12.1%), Minera Chinalco Peru (6.7%), and Southern Peru Copper Corporation (6.5%), among others.
Mining investment totaled US$2.078 billion in the fourth quarter of 2019, a 27% rise from the same period a year before (US$1.643 billion), marking nine quarters of consistent growth after 14 quarters of consecutive decline.
In the fourth quarter of 2019, Anglo American invested US$567 million in its Quellaveco project, while Marcobre invested US$169 million at
Mina Justa (Ica region).
Likewise, Chinalco Peru invested US$148 million in the same period to ensure the continuation of its
Toromocho expansion project (Junin region), whereas Antamina committed US$147 million to infrastructure and its work plant.
(END) CAN/RMB
Published: 2/26/2020