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Peru's PM: Quellaveco is a sign of private investors' confidence in Government

Photo: Presidency of the Council of Ministers (PCM)

Photo: Presidency of the Council of Ministers (PCM)

19:05 | Pucallpa (Ucayali region), Sep. 29.

Peruvian Prime Minister Anibal Torres on Thursday affirmed that the launch of the Quellaveco mining project in Moquegua, after 30 years of waiting, is an undeniable sign that the Government of President Pedro Castillo builds trust among private investors.

"We are also building trust among private stakeholders, and large-scale works are being undertaken. Quellaveco faced difficulties (…) in coming into operation. We had to do what we did this morning," Mr. Torres said from Pucallpa in Ucayali region.

"Quellaveco is already in operation, and that will lead to an improvement in the country's gross domestic product. Of course, these news are not spread, but we are doing it, and this will benefit everyone," he added.

The Cabinet chief traveled to Ucayali to meet with local authorities and civil society. In addition, he will also supervise the implementation of basic sanitation works.

The Ministry of Energy and Mines (MINEM) reported that the Quellaveco mining project will start operations next week after obtaining authorization to operate, once it had complied with the socialization process and approval of the technical instruments required by the corresponding entities.

The construction of Quellaveco —one of the five largest copper deposits in the world— involved a total investment of more than US$5.5 billion, equivalent to 2.4% of the country's GDP. 

Moreover, the operation stage of the project is expected to generate 2,500 jobs. 

Censure motion

During his speech at the Coronel Portillo Municipality auditorium, the high-ranking official commented that Congress should stop insisting on the impeachment process for alleged moral incapacity against the Head of State.

In this regard, he thanked Congress for not having approved the censure motion presented against Interior Minister Willy Huerta.

(END) DOP/FHG/JCR/RMB/MVB

Publicado: 29/9/2022