Andina

Peru: Mining exploration investment revived due to rise in metal prices

17:10 | Lima, Aug. 3.

Improved metal prices in international markets have led to stronger mining exploration investment in Peru, the National Society of Mining, Oil and Energy (SNMPE) reported.

Mining exploration investment increased to US$153 million in Jan-May 2017, up 22% from the same period last year, when the investment portfolio totaled US$125 million.

Likewise, investments in mining exploitation saw signs of growth all over the territory.

In this regard, the guild remarked that US$394 million was invested in the first five-month period, a 20% increase over Jan-May 2016 (US$328 million).

SNMPE noted Peru is an attractive destination for mining investment, mainly because of its vast geological resources and competitive costs.

However, exploration and exploitation works are concentrated in merely 1.27% of its territory.

Finally, the guild stressed the importance of promoting and conducting mining exploration activities in the country, because new deposits are found, assessed and developed at such early stage.

(END) MDV/RMB/MVB

Published: 8/3/2017
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