Mining activity in Peru contributed S/39 billion (about US$11.8 billion) in mining canon and royalties transferred to regions over the last decade, the National Society of Mining, Oil, and Energy (SNMPE) President Manuel Fumagalli has reported.
On the other hand, Fumagalli estimated that
mining investment would total US$5.1 billion in 2019, thus revising down his previous forecast of US$6 billion released at the beginning of the current year.
This reduction is explained by a delay in some mining projects, the non-expansion in other deposits, and the constant barriers such as over-regulation and red tape.
Mining exploration
The
SNMPE head said a lot of work has to be done in terms of
mining exploration, which is the genesis of new projects, thus making them to join the existing portfolio.
In the first five months of the year, he continued,
mining exploration saw a 20% fall compared to the same period in 2018.
"There is much work to be done in terms of over-regulation and social conflicts, which also affect
exploration," he added.
(END) CNA/RMB/MVB
Publicado: 12/7/2019