Andina

Mining investment in Peru up 15% in first 8 months of 2013

Reference image. Photo: ANDINA/Archive.

Reference image. Photo: ANDINA/Archive.

11:21 | Lima, Jan. 02 (ANDINA).

Mining investment in Peru grew 15 percent in the first eight months of 2013 from the same period a year earlier, going from $5.08 billion to nearly $5.9 billion.

The Andean country's Central Reserve Bank (BCR) said Thursday that this rise was mainly driven by increased investment in Las Bambas, Cerro Verde and Tintaya projects.

During the first eight months of 2013, investment in Glencore Xstrata's Las Bambas copper project surged 99 percent year-on-year to $1.12 billion, while investment in the Cerro Verde mining project saw a rise of 75 percent to $619 million.

In the case of Xstrata's Tintaya copper mine, investment increased 56 percent to $386 million between January and August, compared to $246 million in the prior-year period.

The central bank said that other projects which saw increased private investment in 2013 include Barrick's Lagunas Norte mine, up 24 percent to $133 million; El Brocal's Colquijirca polymetallic mine, up 144% to $113 million; and Hudbay's Constancia project, up 7,374% to $246 million.

(END) JJN/EEP


Published: 1/2/2014
Most read