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Peru targets US$60bn in mining investments in next 10 years

Peruvian vice-president, Marisol Espinosa at  the Prospectors and Developers Association of Canada (PDAC) conference in Toronto.

Peruvian vice-president, Marisol Espinosa at the Prospectors and Developers Association of Canada (PDAC) conference in Toronto.

14:25 | Lima, March. 05.

Peru expects to attract US$60 billion in mining investments over the next ten years, according to the Andean country's Vice-President Marisol Espinoza.

Speaking during the opening of "Peru Day" at the Prospectors and Developers Association of Canada (PDAC) conference in Toronto, Espinoza said that last year total investment in Peru’s mining sector reached $10 billion, being one the most important industries in the South American country.

"Mining accounts for five percent of Peru’s gross domestic product (GDP) and more than half of its annual foreign exchange income," the vice president said on Tuesday.

In her opening remarks, she noted that Peru meets the agreements of the Extractive Industries Transparency Initiative which involves transparency and accountability and prioritizes dialogue between the state, communities, and mining companies.

Espinoza also emphasised the need to promote social responsibility among mining companies, focusing on the sustainable development of economic activities, the preservation of water resources and the respect for indigenous communities and their cultures.

Peru was the first and exclusive Mining Country Sponsor of this year’s PDAC conference, the world’s leading mineral industry event taking place from March 2-5 in Toronto, Canada.

(END) NDP/ASH/DLG/EEP






Published: 3/5/2014
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