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Peru: Quellaveco mining project is essential for private investment growth

09:20 | Lima, Jan. 17.

Quellaveco mining Project (Moquegua region) will be essential for the recovery of private investment and will generate significant economic dynamism in the Peruvian south, Macroconsult Economist Elmer Cuba affirmed.

According to him, this project will not only change lives in Moquegua region, but also in the whole southern area of the country.

Likewise, Quellaveco will largely contribute to the recovery of private investment and GDP expansion in the construction sector.

Thus, it will create more jobs for the people who live in Moquegua, as well as for those who reside in nearby regions, such as Arequipa, Puno, and Cusco.

It should be noted the mining project is still in construction stage and will begin production in 2021.

"Quellaveco involves an investment of over US$5 billion, which is 2.5 times higher than Moquegua's GDP," he underlined.

Concerning economic perspectives, Cuba —who is also the Director of Central Reserve Bank (BCR)— indicated the Inca country's GDP will expand over 4% in 2019, mainly underpinned by the mining industry's recovery.

(END) VLA/DTK/MVB

Published: 1/17/2019

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Peru: Quellaveco mining project is essential for private investment growth

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