Peru: Mining projects worth over US$18 billion to start construction in 2019-2022

14:26 | Lima, Jan. 14.

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. 

Lastly, in 2022, the mining projects Magistral (US$480 million) in Ancash region and Michiquillay (US$2.5 billion) in Cajamarca region should start.

In construction 

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. 

In addition, Quellaveco will produce an average of 300,000 tons of copper in its first decade of operations. It will also create nearly 10,000 direct jobs


Published: 1/14/2019