Peru: Mining projects worth over US$14 bn to enter construction phase in 2018

18:25 | Lima, Sep. 10.

The Energy and Mines Ministry (MEM) informed 12 Peru-based mining projects are expected to reach construction stage this year. Their joint investment amounts to US$14.746 billion.

Within this framework, Peruvian President Martin Vizcarra on Monday announced the beginning of Mina Justa project construction. The corresponding investment is worth US$1.6 billion.

"Mina Justa (…), along with the other private initiatives that are already in motion, such as the Toromocho Expansion (Junin region) and Quellaveco (Moquegua region), will give a major boost to mining investments in the next three years," MEM indicated.

The projects —contained in the portfolio that will start or have already started the construction stage— this year are:

Quellaveco Project, Moquegua region (US$5.300 billion).
Pampa de Pongo Project, Arequipa region (US$2.500 billion).
Mina Justa Project, Ica region (US$1.600 billion).
Toromocho Expansion Project, Junin region (US$1.355 billion).
Marcona Expansion Project, Ica region (US$1.300 billion).
Toquepala Expansion Project, Tacna region (US$1.255 billion).
Corani Project, Puno region (US$585 million).
Quecher Main Project, Cajamarca region (US$300 million).
B2 tailings in San Rafael Project, Puno region (US$200 million).
Ariana Project, Junin region (US$125 million).
Pachapaqui Expansion Project, Ancash region (US$117 million).
Shahuindo Expansion Project – Stage 2, Cajamarca region (US$109 million).

Quellaveco

As is known, President Vizcarra announced the start of Moquegua-based Quellaveco copper project on July 26.

Operated by Anglo American-Mitsubishi consortium, this project —whose investment reaches US$5.3 billion— will produce about 300,000 tons of copper per year and create nearly 10,000 direct jobs.

(END) CNA/JJN/DTK/MVB

Published: 9/10/2018

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Peru: Mining projects worth over US$14 bn to enter construction phase in 2018

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