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Peru: Mining investment up 31.2% between Jan-Apr 2019

14:07 | Lima, Jun. 6.

Mining investments in Peru totaled US$1.624 billion between January and April 2019, thus increasing 31.2% compared to the same period last year, the Energy and Mines Ministry (MEM) informed Thursday.

According to MEM's Statistical Mining Bulletin, mining investment amounted to US$431 million only in April this year, registering a 17.2% year-on-year growth. 

Concerning mining companies, Anglo American (Quellaveco mining project) and Marcobre (Mina Justa) ranked first and second, respectively, accounting for 30.9% of total investments. 

They are followed by Southern Peru Copper Corporation (7.8% of the total) and Chinalco Peru (7.6%). The latter totaled US$124 million.

Likewise, MEM's Mining Promotion and Sustainability Directorate indicated that —thanks to the investment executed by Chinalco Peru, mainly for the development of Toromocho Expansion (worth over US$102 million)— the beneficiation plant sphere posted an 8.2% year-on-year expansion between January and April. 

On the other hand, the mining equipment sector reached US$78 million in April (+100.5%), underpinned by Anglo American and Marcobre investments. 

Contribution to GDP 

The report also revealed metallic mining GDP registered a 0.3% rise in March 2019, compared to the same month last year. This was a positive result after several months of decrease. 

Copper (4.7%), lead (5.7%), and tin (29.5%) recorded positive year-on-year variations in March as well. 

(END) CNA/JJN/DTK/MVB

Published: 6/6/2019
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