Peru's Energy and Mines Ministry (MEM) on Monday informed 17 mining projects will begin construction between 2019 and 2022. Their whole investment stands at US$18.591 billion.
Therefore, the following projects are expected to enter construction phase this year: Santa Maria Expansion (US$110 million) and Lagunas Norte (US$640 million) in La Libertad region; Pachapaqui Expansion (US$117 million) in Ancash region; Corani (US$585 million) in Puno region; Coroccohuayco Integration (US$590 million) in Cusco region; and Tia Maria (US1.4 billion) in Arequipa region.
Plus, three projects should start construction in 2020. They are: Pampa de Pongo (US$2.50 billion) and Zafranal (US$1.157 billion) in Arequipa region, as well as Sulfuros de Yanacocha (US$2.1 billion) in Cajamarca region.
Likewise, Los Chancas (US$2.8 billion), Anubia (US$90 million), and Haquira (US$1.86 billion) in Apurimac region; Quicay II (US$400 million) in Pasco region; San Gabriel (US$431 million) in Moquegua region; and Fosfatos Pacifico (US$831 million) in Piura region will begin construction in 2021.
According to MEM's latest Statistical Mining Bulletin, mining investment in Peru
reached US$4.181 billion between January and November 2018, thus increasing 25.4% over the same period the previous year. Thus, it is presumed total investment amounted to over US$4.5 billion last year.
This outcome was underpinned by the start of construction phase of the following projects: Toquepala Expansion (US$1.255 billion) in Tacna region; Quecher
Main (US$300 million) in Cajamarca region; B2 tailings in San Rafael (US$200 million) in Puno region; Toromocho Expansion (US$1.355 billion)
and Ariana (US$125 million) in Junin region; Mina Justa (US$1.600 billion) in Ica region; and Quellaveco (US$5.300 billion)
in Moquegua region.