Peru is the home to 49 current mining projects that are worth a total of $58 billion, according to Energy and Mines Minister Francisco Ismodes.
Ismodes detailed the numbers in a Monday press conference but added that the numbers could be higher as they don’t include expectations for companies who are exploring their options on whether to invest in Peru mines or not.
Ismodes said he was confident this investment will help the surrounding region and could even close widening social gaps in the rural regions of Peru.
The country ranks fifth in the world in terms of exploration investment, Ismodes added. Peru received a staggering 7 percent of the world’s exploratory budget, according to Andina news agency, which meant $524 million worth of investment.
During Monday’s presser, Ismodes added that President Martín Vizcarra’s administration is going to emphasize the economic benefits of mining while also being mindful of environmental and social concerns that stem from the industry.
Peru just began working with foreign companies on the “Quellaveco” copper project that is worth more than $5 billion and should yield more than 300,000 tons of copper each year.
Previously, Ismodes had reported that Peru’s mining investments and prospects done by outside companies will be worth $20 billion up until 2022.
“These actions are very important because they will allow us to consolidate a relevant amount of investment that could result in more tariffs and wider opportunities in terms of employment,” Ismodes said in April.
View Comments (5)
As in so many countries where mining occurs there is great deal made of the amount of money "invested". The most important issues are how much royalties are the mining companies paying to the government and is there enough money in bonds to cover the environmental remediation.
Peru's mining projects are alone worth more than $50 billion annually and every year mining corporations are attempting to setup their projects in Peru and even country has ranked in top 10 list in terms of gold production. Teaming up with foreign agencies will help it increase its minerals mining, thus increasing GMP rate. http://www.discoveryharbour.com/
Yeah, these are really controversial activities. I've read the topic on it here from the author who write papers for students
It’s interesting to read what other people thought about perus collective mining projects worth more than 58 billion and how it relates to them or their clients, as their perspective could possibly help you in the future. When you look for same type of great content, like here then check out thishttps://www.verumgroup.co.nz// also.
You are looking to improve your resume and CV? A samedayresumeservice is a team of professional writers who can help you get the job. We offer same-day services so you can begin your job hunt right away. Call us today to get started on your career!