United Kingdom's companies will replace China's as the main investors in Peru's mining sector, Energy and Mines Ministry's (MEM) General Directorate of Mining Promotion and Sustainability has reported.
According to MEM, the mine construction projects portfolio until November 2018 was composed of 48 initiatives totaling US$59.134 billion in investments.
It should be noted British enterprises take on 20.2% of those projects.
Likewise, U.K. future investments (US$11.93 billion) will be concentrated in 5 projects including
Quellaveco (Moquegua region) and La Granja (Cajamarca region), which belong to Anglo American and Rio Tinto, respectively.
Zhongrong Xinda Group owns Pampa de Pongo (Arequipa region), while Aluminum Corporation of China Overseas Holdings currently finances the
Toromocho expansion project (Junin region).
The Asian giant's position has been weakened due to the completion of the Marcona expansion project (US$1.1 billion) in Ica region.
Other countries
Furthermore, 12.7% of
mining investments come from the United States (US$7.5 billion), whereas Australia and Brazil together account for 8.4% of the total.
(END) CNA/DTK/RMB
Published: 1/2/2019