Peru: Six mining projects to start construction in 2019

10:45 | Toronto (Canada), Mar. 5.

Peruvian Energy and Mines Minister Francisco Ismodes informed six new mining projects — worth US$3.441 billion— are expected to begin construction stage this year, adding between 2020 and 2021 other nine initiatives —with an investment of over US$11.8 billion— will be executed.

The six projects are Santa Maria Expansion (La Libertad region), Tia Maria (Arequipa region), Lagunas Norte Optimization (Ancash region), Pachapaqui Expansion (Ancash region), Coroccohuayco Integration (Cusco region), and Corani (Puno region). 

Likewise, the official noted the mining sector recovered last year thanks to Quellaveco (Moquegua region), Mina Justa (Ica region), and Toromocho Expansion (Junin region) mining projects, which exceed US$8.2 billion, as well as the completion of Shahuindo (Cajamarca region), Marcona (Ica region), and Toquepala (Tacna region) expansions, worth US$2.464 billion.

It should be noted the 2018 mining construction projects portfolio has 48 projects with a total investment of US$59.134 billion. Cajamarca, Apurimac, Moquegua, and Arequipa regions account for approximately 67% of these investments. 

Furthermore, the Inca country has a portfolio of 59 projects —in exploration stage— amounting to US$564 million. Thus, Minister Ismodes indicated activities are being carried out in 26 of those projects with a committed investment of US$239 million.

Improvements in competitiveness 

The event, which kicked off last Sunday, will come to an end on March 6.


Published: 3/5/2019