The mining company Southern Perú has announced that its investment portfolio in the country has grown to $10.38 billion, earmarked for the development of major projects—including Tía María, Los Chancas, Michiquillay, the Cuajone expansion, the new smelter, and the Ilo refinery, among others—according to the Ministry of Energy and Mines (Minem).
During a meeting with representatives from Southern Perú, the head of Minem Guillermo Shinno highlighted the private sector’s strong confidence in the country.
He reaffirmed the government’s objective to streamline administrative procedures and permits, aiming to attract and accelerate investments that will stimulate the economy and create formal jobs for the Peruvian people.
The Southern Perú delegation, led by the company’s Director General of Administration and Control, Patricio Ovejas, explained that these investments will lead to the creation of formal jobs, increased tax revenue, royalty payments, and economic benefits across the regions of Tacna, Moquegua, Arequipa, Apurímac, and Cajamarca.
“Grupo México has a strong appetite for continuing its investments in Peru,” the executive remarked.
The company, which is part of Grupo México, reported that Tía María—located in Arequipa—is the only new (greenfield) mining project currently under construction globally, with an investment of $2.1 billion.
Construction is currently nearly 50% complete, with operations projected to begin in January 2028. The project is generating more than 6,800 jobs, 1,181 of which are held by local workers.
Meanwhile, the Los Chancas project (Apurímac) would entail an investment of $2.6 billion over a four-year period, with an estimated annual production of 130,000 tons of copper.
As for the Michiquillay project, located in Cajamarca, construction is planned for 2030 and 2031, with an investment of $2.5 billion. Annual copper production could reach 225,000 tons per year.
The meeting was attended by company executives: Director of Finance and Control Raúl Jacob, Director of Environmental Services Dario Oviedo, Legal Manager Andrés Ferrero, and Institutional Relations Manager Nuria Esparch.
They noted also that the company is investing $429 million through the "works for taxes" mechanism in the agriculture, education, health, and sanitation sectors.
More from Andina:
(END) NDP / MDV
Publicado: 2/11/2026