12 mining projects —worth US$14.021 billion— might be implemented in the remainder of 2018, thus bringing development to various Peruvian regions, Energy and Mines Minister Francisco Ismodes informed.
According to Ismodes, said projection is based on the
upcoming construction of projects such as Quellaveco (US$4.882 billion) and Toquepala expansion (US$1.255 billion).
"We must highlight the impetus given to several projects which have allowed us to rely on an
investment portfolio exceeding US$14 billion for this year," he noted.
Besides, the cabinet member pointed out the mining project portfolio for the following years
exceeds US$58 billion.
Social Fund
Ismodes also underlined the Peruvian Government has allocated S/50 million (about US$15.239 million) for the Social Advancement Fund (FAS) in 2018.
These resources seek to ensure social conditions remain favorable for any
investment project.
"The goal is to act preventively in communities where the future economic activities will take place. As a result, this will renew the population's confidence in the government," he added.
(END) CNA/JAA/MVB