Andina

Peru: Mining investment totaled US$839 million in 1Q 2018

Cobre

10:44 | Lima, May. 1.

Mining investment in Peru reached US$839 million between January and March 2018, up by 30.2% over the same period last year, Energy and Mines Ministry (MEM) informed Tuesday.

Said positive result shows the Inca country remains one of the most attractive nations for mining investment worldwide.

According to MEM's General Mining Bureau (DGM), this growth was maintained in most of the segments.

In this regard, infrastructure and beneficiation plants stood out by drawing investments worth US$218 million and US$181 million, respectively.

Together, these two resources accounted for 47.5% of total mining investments in the first three months of the current year.

Based on MEM's figures, mining investment totaled US$312 million in March 2018, a 42.6% increase from the same month in 2017 (US$219 million).

Metal production

In addition, the metal mining sub-sector saw increases in the production of copper (+5.8%), zinc (+7.2%), iron (+8%), tin (4.5%), and molybdenum (+38.6%) in March 2018.

Nevertheless, gold, silver, and lead outputs slid in said analyzed month.

(END) JJN/JJN/JAA/MVB

Published: 5/1/2018