Central Reserve Bank (BCR) Governor Julio Velarde on Thursday predicted that mining investment will expand 5.1% this year, driven by increased interest from various companies in the sector.
"We expect growth in sectoral investment in 2024. This expectation arises from talks held with companies; it is not only our estimate," Velarde said in the recent presentation of the 2023 Inflation Report.
"There are some delayed projects that are likely to be implemented, as well as mining expansion plans that are still pending," he added.
According to BCR estimates, investment in this sector is expected to increase 5.1% this year, after reporting a fall of about 14.1% at the end of 2023.
The economist explained that expansion projects at the Toromocho and San Gabriel mines would stand out, although there may not be many new mines likely to be opened up.
Unlocking of projects
Likewise, Velarde was in favor of unlocking projects that have not got the green light due to issues related to authorizations or permits, since they are important investment amounts.
"Indeed, there is still interest in investing (in Peru), but efforts need to be made to promote it. We need to start addressing what takes shorter, which is the expansion of mines," he pointed out.
"Investments are not insignificant. They are quite high, but they need to be unlocked," the BCR Governor remarked.
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Publicado: 4/1/2024