Mining investment in Peru got off to a good start this year totaling US$335 million in January, up 48% compared to the same month in 2018, Energy and Mines Ministry (MEM) reported on Wednesday.
According to MEM's Statistical Mining Bulletin, the Beneficiation Plant and Mining Equipment segments accounted for more than 40% of mining investment
at the national level.
The Beneficiation Plant segment saw a year-on-year growth of 833% as it accumulated US$70 million, compared to US$7 million recorded in January 2018.
This significant rise was mainly due to the amount executed by Chinalco Peru
and Southern Peru Copper Corporation through its Toromocho and Toquepala expansion projects, respectively, which totaled US$29 million.
As for Mining Equipment, it posted a year-on-year growth of 49%, which implies an investment of US$68 million in the first month of the year.
At the enterprise level, both Antapacay and Marcobre
accounted for about 26% of mining investment each and together made up more than 50% of mining investment in the Mining Equipment segment.
On the other hand, investment in Development and Preparation amounted to US$60 million, up 77% over January the previous year (US$34 million).