Tia Maria mining project in Arequipa one of many slated to kick off next year

peru mining protests

An ambitious mining project in Peru’s southern region of Arequipa will begin next year, according to the Peruvian Vice Minister of Mines Luis Inchaustegui.

The Tía María project is part of a series of projects slated for 2019 that have more than $3.4 billion invested into them from commercial investors. The holder of the concession, Southern Peru, will make an exact call for an opening date in the months ahead as the project gets set to break ground.

The copper mine that is promised to give up to 3,000 local jobs will be joined by other big mining projects like Santa Maria expansion (La Libertad), Lagunas Norte (La Libertad), Corani (Puno), Coroccohuayco (Cusco), and the Pachapaqui expansion (Ancash), according to a list from the state-owned Andina news agency.

In 2020, another long list of mine openings will be worth $5.4 billion for the companies involved in extraction.

Peru’s total mining projects over the next four years are expected to be worth more than $20 billion over the next four years.

“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,” said Mines Minister Francisco Ismodes in April.

  • Positive development. I am cautiously optimistic, as there are so many other variables, like environmental side effects and a tradition of corruption in the government.

leave a reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.