Peru’s Ministry of Energy and Minas (Minem) on Sunday reported that investment in mining exploration amounted to US$111 million between January and April this year, up 28.5% compared to the same period last year, when it totaled US$86 million.
Minem stated that, given its large mining potential, Peru remains one of the best destinations for mining investment.
According to the Mining Statistical Bulletin (BEM), prepared by the General Directorate for Mining Promotion and Sustainability, exploration is a key phase of the mining process, as it supports the production through the discovery of new deposits and contributes to renew future resources and mining reserves in the market.
In this regard, the exploration accumulated between January and April this year, is the result of greater investment by mining company Buenaventura (US$19.4 million), which made up 17.6% of the total.
Meanwhile, mining companies Poderosa (US$11 million) and Jinzhao Mining Peru (US$9.7 million) accounted for 10.0% and 8.7%, respectively.
BEM also states that only in April investment in exploration reached US$37 million, a month-on-month increase of 26.8% (US$29 million).
Moreover, it reflects a growth of 59.3% compared to April 2021 (US$23 million), due to investments by Jinzhao Mining Peru, Buenaventura, and Poderosa.
(FIN) NDP/MDV/RMB
Published: 6/5/2022