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Peru: Mina Justa investment to reach US$1.6 billion

13:11 | Lima, Sep. 10.

Peruvian Energy and Mines Minister Francisco Ismodes on Monday affirmed Mina Justa mining project (Ica region) will entail an investment worth US$1.60 billion.

According to Minister Ismodes, this venture will create approximately 4,000 jobs during its construction stage. Afterwards, operations will demand between 3,000 and 3,500 employees. 

"We welcome the decision to invest in this important project. The Government's commitment is to support the execution of this project without any setbacks," he added. 

Remarks were made during the official announcement ceremony held at the Government Palace. 

The official was joined by Peruvian President Martin Vizcarra, Economy-Finance Minister Carlos Oliva, and Marcobre's General Manager Enrique Rodriguez on the occasion.

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It should be noted the construction and the beginning of Mina Justa project's mining activities were approved last week.

The corresponding partners are mining company Minsur S.A. (Peru's Grupo Breca), which holds 60% of shares, and Alxar Internacional SpA (Chile's Empresas Copec), with 40%.

The mining copper project operations are expected to start by the end of 2020.

The average annual production is projected at 102,000 tons of copper concentrate and 58,000 tons of copper cathodes.

(END) CNA/DTK/MVB


Published: 9/10/2018
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