Andina

Peru relies on 49 mining projects worth over US$58 billion

15:45 | Lima, Sep. 3.

Energy and Mines Minister Francisco Ismodes on Monday informed Peru's mining sector has so far identified 49 projects, which exceed US$58 billion in investments.

According to the official, this will significantly contribute to dynamizing the economy and closing the social gaps that still exist in some regions of the Inca country. 

However, he affirmed, this portfolio does not include projects currently in the exploration stage. 

On the other hand, Minister Ismodes said the sector relies on an investment portfolio consisting of committed projects totaling US$14 billion.

Nevertheless, he pointed out the administration's goal is to boost private initiatives in order to reach US$21 billion in mining investment by 2021. 

Ismodes went on to add Peru held the fifth position in the world's 2017 exploration investment ranking.

Within this framework, the Inca country drew 7% of the globe's total exploration budget, worth US$524 million. 

Small-scale mining 

The official highlighted also the importance of continuing with the mining formalization process aimed at assisting thousands of artisanal miners to join the formal economy, as well as to adapt to environmental and labor regulations. 

Finally, he affirmed the Central Government is focused on fighting illegal mining activities with the aim of preventing further harm to the Amazonia

(END) ECS/JJN/DTK/MVB


Published: 9/3/2018
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