Peru: Michiquillay project to reinvigorate mining investment portfolio



16:31 | Lima, Feb. 20.

The Michiquillay project development will contribute to reactivating Cajamarca region's mining investment portfolio, National Society of Mining, Oil, and Energy (SNMPE) Chairman Luis Marchese affirmed Tuesday.

According to Marchese, the successful bidding for this copper project is a clear sign of investors' confidence in North-Andean Cajamarca region and Peru.

Likewise, he pointed out "Michiquillay mine's development will bring important growth opportunities for Cajamarca's population."

Some of them include new formal jobs creation, local suppliers promotion, as well as infrastructure development. 

"All that will contribute to substantially improving human development indexes in the region," the officer added.

Similarly, Michiquillay should play an important role in reviving interest in other projects such as Galeno, La Granja, Conga, and Shahuindo. 

"All these projects have the potential to produce over 1 million tons of copper per year; [that is] 40% of the country's current production," he noted.

This way, Peru will be able to consolidate its position as the second-largest copper producer in the world.


Published: 2/20/2018