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Peru: 2018, a good year for mining investment

Explotación minera. Foto: ANDINA/ archivo.

00:07 | Lima, Mar. 16.

2018 will be a good year for mining investment in Peru, driven by large projects that have not yet been announced, Central Reserve Bank (BCR) Governor Julio Velarde projected.

"I think it [2018] will be a good year for mining investment, and that will invigorate other sectors," Velarde pointed out.

"Last week, I attended a meeting on mining in Toronto, and I noticed the interest in developing large projects remains truly high, so there is no doubt these projects will be implemented," the official added.

Within this context, the BCR representative noted there is information claiming some mining companies are currently signing contracts with suppliers for the implementation of large projects.

"I can't give any more details because these projects have not been announced yet […]," he noted.

Economic recovery

The official also noted Peruvian economy is experiencing a cyclical recovery that will boost investment in 2018.

"We are in a cyclical recovery. Also, there are favorable external winds due to greater synchronized global growth and better export prices," Velarde explained.

He went on to say Inca exports expanded nearly 22% in 2017, the highest growth rate in Latin America.

As is known, Peru's GDP increased 2.81% last January.

(END) CNA/JAA/MVB

Published: 3/16/2018
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