Andina

Peru foresees over US$20 bn in mining investments by 2022

Las Bambas

Las Bambas

11:04 | Lima, Apr. 24.

The Energy and Mines Ministry (MEM) expects to attract mining investments worth US$20.819 billion between 2018 and 2022, an amount that accounts for 35.6% of Peru's total portfolio in this productive sector.

According to MEM, merely US$3.850 billion (6.6%) —from the whole mining investment portfolio (US$58.507 billion)— was executed until 2017, thus leaving US$54.657 billion (93.4%) to be invested between 2018 and 2027.

In this sense, US$2.154 billion is expected to be invested in 2018. This accounts for 10% of the entire amount to be executed in the 2018-2022 period. 

2019-2020

Likewise, an investment of US$2.929 billion is expected for 2019, meaning a 36% increase over 2018.

The projected investment for 2020 remains on the upward trend (US$4.668 billion), up by 59% from a year before.

2021-2022

In addition, US$6.522 billion is planned to be invested in 2021, a 40% rise compared to the previous year.

Lastly, an investment worth US$4.546 billion is projected for 2022.

According to former Deputy Mines Minister Romulo Mucho, copper production might increase from 2.4 million tons per year to more than 3 million tons by 2021.

Also, gold output would climb from 155 tons to 180 tons by 2021, he concluded.

(END) RGP/JJN/JAA/MVB

Published: 4/24/2018
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