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Peru: Mining investments to reach US$6 billion in 2019

00:01 | Lima, Feb. 1.

Mining investments in Peru will reach US$6 billion in 2019, underpinned by better mineral price prospects for the long term, Energy and Mines Minister Francisco Ismodes has projected.

These resources will be allocated to the following spheres: exploration, infrastructure, mining equipment, beneficiation plant, development, and preparation, among others. 

According to the official, these investments reinforce the capital allocated for this sector in 2018, which bordered US$4.5 billion. 

Price prospects 

"There are good medium-to-long-term perspectives. It encourages companies, which have already identified their projects, to continue with their investment processes," the cabinet member expressed. 

In the case of copper, a price of $3 per pound is expected for 2019.

Hydrocarbons 

On the other hand, he indicated the Energy and Mines Ministry (MEM) hopes investments in the hydrocarbon sector will be strengthened this year. 

"The wealth of the extracted resource generates economic resources that translate into the population's wellbeing, not only for those who live nearby the operation (sites) but also (for the ones residing) in the regions and rest of the country," Ismodes said. 

Likewise, he estimated there is an investment potential that can be developed for an amount between US$2 billion and US$3 billion.

Rural electrification 

Furthermore, the official pointed out his portfolio currently boosts a large process of rural electrification that will also serve to provide drinking water to diverse communities. 

(END) MDV/DTK/MVB

Published: 2/1/2019
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