Peru: Mining sector investment projected to reach US$5 billion in 2024

17:00 | Lima, May. 13.

Investment in Peru's mining sector might total US$5 billion in 2024, reflecting growth compared to the US$4.715 billion registered in 2023, Energy and Mines Minister Romulo Mucho has forecast.

"Indeed, we are going to achieve US$5 billion in mining sector investments," he expressed.

Mucho predicted that mining exploration investment in Peru might exceed US$600 million in 2024, given that his portfolio forecast 75 exploration projects for the current year.

"Exploration is an obligation because we have to continue finding more (mining) deposits," he told TV Peru.

The Cabinet member said his portfolio has 75 exploration projects planned for 2024, as well as ventures to replenish reserves.

"We must build more projects, but with due respect for the environment," he noted.

In this regard, the government official affirmed that "permit procedures" in Peru are slow, adding that there is intention to dispel that myth.

"In this context, the single window becomes relevant," he noted.

On the other hand, Mucho underscored the demand potential that copper has around the world.

"In the case of copper potential worldwide, the main mineral produced by our country, consumption over the next 25 years is expected to equal that of the past 5,000 years," he said.

Moreover, the minister forecast that 3 million tons of copper will be produced in Peru in 2024.

Regarding a change in the energy matrix, he said that nuclear energy even seems to be interesting.


Publicado: 13/5/2024