Peru Mining Investments Expected To Reach $20 Billion In Four Years

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Investments are expected to rise by $2 billion US dollars each year, according to the Ministry of Mines and Energy.

Peru is set to continue positioning itself as one of the mining capitals of the world, according to Peru Reports.

Peru’s Ministry of Mines and Energy (MEM) estimated Monday that it will receive $20.8 billion worth of mining investments between 2018 and 2022”, you can read in this media.

This income will be a result of various projects like the Anglo American’s Quellaveco copper mine, Jinzhao Mining’s Pampa de Pongo iron ore project, and Chinalco Peru’s Toromocho copper mine expansion, Peru Reports explains.

As a positive consequence, these projects will allow for Peru to consolidate a relevant amount of investment that could result in more tariffs and wider employment opportunities.

This year will see a relatively low amount of investment at just north of $2 billion US dollars because three projects are wrapping up while nine more are waiting to open up in their place. However, investments are expected to rise by $2 billion US dollars each year thereafter until 2022.”, you can read in Peru Reports, who explains that next year five more mining projects will be starting.

MEM informed also that mining investments will be climbing to $33.8 billion US dollars in the period from 2023 to 2027, which will be very positive for Peru’s economy and mining industry.

(Source)
(Cover Photo Wikimedia Commons)

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Ermelinda Maglione

Ermelinda is a journalist from Caracas, Venezuela. She has a Master’s degree in Digital Journalism and has recently finished a technical degree in Veterinary Assistance because of her love for animals. She likes to do sports, but especially ballet, which she has practiced for more than 17 years. Her passion is to read, write, and blog about different topics, as well as travel whenever she can.