Andina

Peru: Executed mining exploration investment up 23% so far in 2024

16:00 | Lima, Oct. 7.

Investment in exploration so far this year has increased by 23% compared to the same period in 2023, which is an encouraging figure for the mining sector in our country, Institute of Mining Engineers of Peru (IIMP) General Manager Gustavo De Vinatea reported on Monday.


"There has been a 23% increase in exploration compared to last year, which is very encouraging because we know that there are 75 exploration projects worth US$644 million, and that should give us a hopeful view of the future of mining in Peru," he indicated.

De Vinatea pointed out that in 2024 the mining sector has received an interesting investment in innovation and new technologies, a significant increase compared to 2023. 

"Mining is always good news for Peruvians and something we should be proud of. This year, investment is nearing US$5 billion, a notable 42% increase in terms of innovation and new technologies," he told Red de Comunicacion Regional (RCR).

Encouraging figures

According to the Ministry of Energy and Mines, of the total of 75 projects in the exploration portfolio, 39% correspond to copper, worth an investment of US$254 million.

These projects include Esperanza, El Carmen, Antamayo, Silvia, and Los Chapitos.

As for gold, 30% of projects amount to US$191 million. Some of these are: La Zanja, Coloso, Colpayoc, Colorado, and Las Defensas.

Meanwhile, 13% of projects in this portfolio are for zinc, followed 12% for silver, 3% for lithium, 2% for iron, 0.6% for nickel, and 0.6% for lead.

(END) NDP/MVB

Published: 10/7/2024