Cerro Verde mining company's contribution to Peruvian economy totaled US$4.921 billion, accounting for 2.3% of 2017 GDP, APOYO Consultoria's Applied Economics Project Manager Vincent Poirier informed.
According to him, the company contributed with US$3.151 billion to Arequipa region in 2017, thus representing 31% of its GDP.
Furthermore, the specialist indicated copper
production at this mining unit increased twofold, from 246,973 FMT (2014) to 501,815 FMT (2017), after Cerro Verde
"It should be noted the mining company's total investment
in plant expansion amounted to US$5.10 billion," Poirier said.
Canon and royalties
Furthermore, APOYO Consultoria indicated that Cerro Verde provided US$1.622 billion in canon and royalties between 2005 and 2017.
On the other hand, taxes paid by Cerro Verde in 2017 accounted for 50% of the total collected by Arequipa region and 2% by the Inca country.