Mining investment in Peru might expand 23% in 2019, underpinned by
(Junin region) projects, Scotiabank's Department of Economic Studies said on Tuesday.
According to the officer, this change is due to Quellaveco
, Mina Justa
, and Toromocho
mega-projects which —along with smaller-scale ones— exceed US$6 billion in investments, taking into account that mining investment reached US$4.947 billion in 2018, a 26% rise compared to 2017.
"The recent trend change in mining investment takes place in a context where metal prices have been strengthened (...)," Salazar said.
"The increase in prices
has enabled companies to resume their re-investment plans in new projects (greenfield
(brownfield), and new explorations," she added.
Furthermore, the bank indicated the three mega-projects contributing to mining investment are Quellaveco
(US$5.3 billion), Mina Justa
(US$1.6 billion), and Toromocho
expansion (US$1.3 billion).
Other smaller-scale projects in construction stage are Quecher Main (US$300 million), B2 tailings in San Rafael (US$200 million), and Ariana (US$125 million).