Andina

Australia interested in Peru's mining exploration projects

Explotación minera. Foto: ANDINA/ archivo.

Explotación minera. Foto: ANDINA/ archivo.

11:23 | Lima, May. 29.

Australian companies are interested in financing mining exploration projects in the Inca country, bearing in mind the sector's growth, Australian Trade and Investment Commission for Peru and Ecuador Commercial Counselor Marie Hill informed Tuesday.

According to Hill, most exploration projects in Peru are linked to copper, which favored investment because it became more competitive.

"(...) Australia wants to be part of the expansion of Peru, which is one of the fastest-growing economies in Latin America," Australian Trade and Investment Commission Business Development Manager Sheyla Vargas highlighted.

Investment

Hill pointed out Australian investment in the South American country reaches US$3.373 billion, mainly in mining exploration, as well as in supplying of equipment, services, and software for the sector.

"There are even nearly 90 Australian companies in Peru, most of them are associated with the mining sector (...)," the official remarked.

On the other hand, she noted the Peru-Australia FTAsigned last February— will boost bilateral trade, which currently stands at some US$446 million.

"There is room for both economies to grow thanks to this agreement," Hill affirmed.

In this regard, the official stated this FTA will favor sectors such as mining, agriculture, and tourism. 

"There is also interest in the oil sector," she added.

(END) DOP/CNA/JAA/MVB

Published: 5/29/2018
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