Andina

Southern Peru plans to invest US$8.1 billion in mining projects

14:12 | Lima, jun. 4.

Southern Peru Copper Corporation plans to invest around US$8.1 billion between 2018 and 2025 to develop mining projects and the facilities they need.

"The projected investment in Peru is around US$8.1 billion," Southern Peru Copper Corporation Exploration Manager Fernando Nuñez stated.

"Our portfolio of projects in southern Peru total about US$2.8 billion, of which US$1.6 billion has already been spent mainly in Toquepala (Tacna region) and Cuajone (Moquegua region) mines," he said.

Additionally, the company envisages investments in the refinery, foundry, and port it operates in Ilo city (Moquegua region).

"Likewise, we have our long-awaited Tia Maria project (Arequipa region), with an investment of US$1.4 billion, and other important projects like Los Chancas (Apurimac region), where US$2.800 billion is planned to be invested, and Michiquillay (Cajamarca region), where the estimated investment is US$2.5 billion," he said.

The executive stressed that Peru's most important mining investment projects are located in Arequipa, Moquegua, Apurimac, and Cajamarca regions.

"In the case of Michiquillay, we are working in collaboration with the social fund established to socialize the mining project with communities in the area of influence," he stated.

It must be noted Southern Peru Copper Corporation estimated that production at Michiquillay would likely begin in 2025.

(END) CNA/RMB/MVB

Published: 6/4/2019