Peruvian President Martin Vizcarra on Thursday announced the startup of Moquegua-based Quellaveco copper project —to be operated by Anglo American-Mitsubishi consortium— as a tool to invigorate the country's economy.
According to the Head of State, the project —which demands an investment of US$5.3 billion— will produce about 300,000 tons of
copper per year, in the first 10 years of operation, and create nearly 10,000
direct jobs.
In a ceremony at the Government Palace, Mr. Vizcarra explained that employment figures will increase with
indirect jobs generated over the course of the project.
"
Quellaveco will be a great project with a revitalizing effect on our
country's economy," said the statesman, noting the benefits will be felt not only in Moquegua's area of influence but across the southern macro-region and the rest of the country.
"That is what this is all about: making
investments and developing
mining as an activity that goes hand in hand with other economic activities like agriculture, agroindustry, and tourism," the President added.
Recovery
This is coupled with
public investments, which —he said— suggest economic rebound is already a reality this year.
(END) MVF/RMB/MVB
Published: 7/26/2018