Andina

Peru: Mining outlook on the upward trend

Las Bambas

Las Bambas

00:01 | Lima, Sep. 6.

The recent metal prices recovery will contribute to clarifying the future of top mining projects such as Quellaveco (Moquegua region) and Michiquillay (Cajamarca region) in the coming months, Energy and Mines Minister Cayetana Aljovin affirmed.

As is known, copper price currently stands above US$3 per pound. Zinc and molybdenum have also entered the upward trend.

Said factor will not only lead to better export prices, but also to making possible those investments that had —previously— raised doubts.

It must be noted the Michiquillay mining project will be awarded via ProInversion on November 15, whereas Quellaveco will come out in early-2018. The latter will entail an investment worth close to US$5 billion.

Likewise, the minister noted there are other important projects such as Mina Justa (Ica region), Pampa del Pongo (Arequipa region) and Corani (Puno region), located in Peru's High-Andean areas, where investments are scarce.

Within this framework, Peru will host Perumin 33rd Mining Convention on September 18-22 at the National University of Saint Augustine (UNSA) in Southern city of Arequipa. 

Said convention will also see the presence of a European Union delegation, which will present its Mineral Development Network Platform (MDNP). 

(END) JAA/MVB

Published: 9/6/2017
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