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Peru: Investments in mining projects to total US$11.754 billion between 2019-2022

12:55 | Lima, Oct. 29.

The projected investments in mining ventures in Peru will reach US$11.754 billion in the 2019-2022 period, the Energy and Mines Ministry (Minem) reported on Tuesday.

According projections published in Minem's bulletin, there will be an investment worth US$2.496 billion in 2019, which represents 21.2% of the total. 

"Taking into account that, this year, B2 tailings in San Rafael (Puno region) might complete its construction, and —at the same time— six projects will continue said phase," it said. 

Likewise, the document indicated that there will be a US$2.845 billion investment in 2020, a 14% rise compared to this year. 

Meanwhile, the positive trend will continue in 2021 with a US$3.089 billion investment, an 8.6% expansion compared to 2020. 

"The sustained growth of annual investments in large-scale projects such as Quellaveco and Yanacocha Sulfuros might support this result," Minem expressed. 

Lastly —for 2022— it estimated a US$3.324 billion investment, thus meaning a 7.6% increase compared to 2021 and representing 28.3% of the 2019-2022 period.

Total portfolio 

Currently, Minem has identified a portfolio of mining construction projects composed of 48 projects worth US$57.772 billion. 

In order to be included in the mentioned portfolio, the mining projects must meet three requirements: (1) an investment worth over US$70 million; (2) it should begin operations in the next 10 years; and (3) it must have or at least be developing its pre-feasibility studies. 

(END) CNA/JJN/DTK/MVB

Published: 10/29/2019
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