Andina

Chinese companies handle 20.8% of mining investment portfolio in Peru

11:32 | Lima, Aug. 8.

According to the latest report from the Ministry of Energy and Mines (Minem), Chinese companies have committed approximately US$11.371 billion in investment across seven mining sites in Peru.

Thus, China is the country with the largest future investment in Peruvian mining, accounting for 20.8% of the sector's total project portfolio.

The seven projects with Chinese investment capital are: Pampa de Pongo (Arequipa region), El Galeno (Cajamarca region), Chalcobamba (Apurimac region), Don Javier (Arequipa region), Ferrobamba Replacement (Apurimac region), Rio Blanco (Piura region), and Toromocho Expansion (Junin region).

The Ministry of Energy and Mines (Minem) indicated that investments in mining projects in Peruvian territory have a variety of financing sources from: China, Peru, Canada, Mexico, Australia, the United Kingdom, the United States, Brazil, Switzerland, Japan, and South Korea.

Canada rose to second place with a total of US$10.335 billion in nine mining projects, accounting for 18.9% of the total investment portfolio.

Capital from Mexico was ranked third. It represents a combined amount of US$9.450 billion in seven projects, accounting for 17.3% of the total investment in the portfolio.

Investments from the United States amounted to US$7.750 billion in three projects, accounting for 14.2% of the total portfolio.

Peruvian companies also consider investing US$3.811 billion in 10 mining projects, thus having a 7% share in the total portfolio.

Total portfolio

The report from Minem's General Directorate of Mining Promotion and Sustainability (DGPSM) indicates that the "2024 Mining Investment Project Portfolio" is made up of 51 plans that encompass a total investment of US$54.556 billion.

The current portfolio shows a 2.7% increase (US$1.426 billion) compared to the amount recorded in the July 2023 portfolio, which included 46 projects and an investment worth US$53.130 billion.

(END) CNA/MVB

Published: 8/8/2024