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Peru: Mining investment might reach US$6 billion in 2019

15:05 | Lima, Oct. 31.

Mining investment in Peru might reach US$6 billion in 2019, thus increasing 30.4% compared to the figures projected for this year (US$4.6 billion), Energy and Mines Minister Francisco Ismodes forecasted Wednesday.

"At least six mining projects were announced in the current year, of which Quellaveco Project (Moquegua region), Mina Justa Project (Ica region), and Tomorocho Expansion Project (Junin region) are the most important," he told El Peruano official gazette.

According to Minister Ismodes, mining investment will continue to expand and might total US$7.8 billion by 2020 (+30%).

However, it may stabilize at US$8 billion by 2021 (+2.6%).

Operations

"Thanks to its mining potential and mineral resources, Peru is one of the world's major countries attracting investments," the official expressed.

Furthermore, there is a portfolio containing 26 mining projects currently at different development stages.

On this occasion, the minister indicated some of them might start operations between 2023 and 2025.

In this sense, Cañiaraco Project (Lambayeque region), Rio Blanco Project (Piura, region), Hierros Apurimac Project (Apurimac region), as well as Galeno Project, La Granja Project, Conga Project, and Michiquillay Project (Cajamarca region) stand out.

Ismodes went on to add the Ministry's task is to follow these investments so they can meet the deadlines and make progress without any setbacks.

(END) DOP/CNA/MVB

Published: 10/31/2018

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Peru: Mining investment might reach US$6 billion in 2019

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