Andina

Peru relies on energy and mining projects


Yanacocha is owned by Denver-based Newmont Mining Company

15:32 | Lima, Feb. 21.

The Peruvian Government relies on an energy-and-mine-related investment project portfolio to be awarded soon, Private Investment Promotion Agency (ProInversion) Executive-Director Alberto Ñecco informed Wednesday.

In this sense, the official announced the Government will call an international public tender for both, Apurimac-based Colca and Jalaoca mining projects.

"The projects are still at an early exploration stage. We can't yet determine the [corresponding] investment," Ñecco expressed in this sense.

"There is actually an important portfolio that the [Energy and Mines] Ministry will develop," he added.

As is known, Southern Peru Copper Corporation last Tuesday won Michiquillay bidding process by presenting a US$400 million transfer price, and higher royalty payments (3%). It thus exceeded Milpo company's offer (US$250 million + 1.875% in royalties).

Energy

According to information published on ProInversion's website, the Inca country's 2018 energy project portfolio amounts to US$802 million.

Also, projects worth US$222 million will be tendered in 2019.

(END) JAA/MVB

Published: 2/21/2018