Peru's Energy and Mines Minister Juan Carlos Liu on Friday affirmed that the US$6 billion
mining investment target will be reached this year and that this amount will increase to US$6.3 billion in 2020.
In an interview with
El Peruano official gazette, Liu disclosed that the regulation for exploitation of uranium will be ready by the second half of next year and will serve to develop the Macusani lithium project in Puno region.
"We reached the 2019 mining investment target of US$6 billion thanks to the favorable social peace climate, consolidated in the last weeks of the year, which has an impact on the
level of production achieved, for example in copper —our principal metal— thus making a total production of 2.5 million tons this year," he said.
On the other hand, the cabinet member believes that the growing trend will continue in 2020, and the mining sector expects US$6.3 billion in investments because some projects like Yanacocha Sulfuros (Cajamarca region) shall be underway next year.
"There are other projects like San Gabriel (Moquegua), Corani (Puno), Pachapaqui expansion (Ancash), and Coroccohuayco integration (Cusco) that give us a glimpse that we could reach that level of investment," he stated.
Moreover, the minister reported that over US$430 million has been invested in
mining exploration in 2019, and the amount may increase next year.
(END) DOP/CAN/RMB/MVB
Published: 12/27/2019