Peru: Mining projects portfolio reaches US$57.772 billion

09:41 | Lima, Oct. 23.

The portfolio of mining construction projects in Peru —identified by the Energy and Mines Ministry (Minem) up to September 2018— includes 48 projects worth US$57.772 billion, Deputy Mines Minister Augusto Cauti has affirmed.

Of the total amount, 23 projects are in pre-feasibility stage (US$28.371 billion); 15 projects are in feasibility phase (US$16.217 billion); 3 projects are in detail engineering stage (US$8.999 billion); and 7 projects are in construction phase (US$8.999 billion).

"We have mapped projects that will start in 2020, 2021, 2022, and 2023. Afterwards, it depends on private investors to establish when these will begin exactly, taking into account prices and financing," the official expressed.

Minerals

Likewise, Cauti indicated the forecast for mineral demand in the international market keeps increasing, underpinned by electric cars.

"The projection is rising; in terms of mining resources, 71% of projects we receive are related to copper, and copper represents 30% of Peru’s total exports. It is a resource we must take advantage of," he added.

Regions

Furthermore, the official underlined the Government’s assistance in boosting mining investments from a territorial approach.

"As the Energy and Mines Ministry, we have created Minem committees for mining management and information, which reach out to the regions where more projects will be located in order to provide more information and organize workshops, so people can be informed," he said.

International interest

On the other hand, the deputy minister pointed out international mining investors are interested in Peru, due to its comparative advantages, as well as the energy topic for projects.

Remarks were made during the 2019 Infrastructure, Energy, and Mining Forum, organized by American Chamber of Commerce of Peru (AmCham).

(END) MDV/DTK/MVB

Publicado: 23/10/2019