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),
expansions (brownfield), and new explorations," she added.
Projects
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).
(END) CNA/DTK/MVB