Andina

Chinese companies make up 21.68% of Peru's mining investment portfolio

Mina de cobre. Foto: MEM

Mina de cobre. Foto: MEM

14:59 | Lima, Feb. 4.

Chinese investments in Peruvian mining ventures total US$10.189 billion (7 projects), thus accounting for 21.68% of the sector's total portfolio, the Energy and Mines Ministry indicated.

Said capitals, allocated mainly to copper ventures, make the Asian Giant Peru's biggest mining investor, the Ministry's latest January 2017 report revealed.

The sum is distributed over the following projects: Pampa de Pongo (Arequipa region), Galeno (Cajamarca), Don Javier (Arequipa), Explotacion de Relaves (Ica), Rio Blanco (Piura), as well as expansion works of Toromocho (Junin) and Marcona (Ica).

Having started operations, Las Bambas project in southern Arequipa region is no longer considered in the report. The venture required a US$10-billion investment. 

In terms of mining investment in Peru, China is followed by Canada, with US$8.755 billion (18.63% of Peru's portfolio), and the United States (US$6.055 billion or 12.88%). 

The United Kingdom takes the fourth spot at US$6 billion, followed by Mexico (US$4.16 billion), Australia (US$3.135 billion), Brazil (US$1.476 billion) and Japan (US$490 million).

Peruvian firms also consider investing US$4.107 billion, thus contributing 8.74% of the country's total mining investment. 

Total portfolio

As at January 2017, Peru's estimated mining investments reached US$46.996 billion, distributed over 47 main projects.

The portfolio includes 25 ventures in the advanced exploration stage, 15 projects with environmental impact assessment (EIA) approval and other 2 in the EIA assessment stage. 

(END) CNA/CNA/DHT/MVB

Published: 2/4/2017