Mining Investment in Peru Grew 31.2% Between January and April 2019

Mining investments continue to advance steadily in the country. The first four months of this year, mining investments were 31.2% higher than last year’s same period, reaching 1624 million dollars, reported today the Ministry of Energy and Mines (MEM). According to the latest edition of the MEM Mining Statistics Bulletin, only in April 2019, mining investment totaled 431 million dollars, recording an annual growth of 17.2%.

At the company level, Anglo American Quellaveco (Quellaveco Mine) and Marcobre (Mina Justa) remain in the first and second position, representing together 30.9% of the total investment.

On the other hand, Southern Peru Copper Corporation is in third place, representing 7.8% of the total investment, and Minera Chinalco Peru, which reported an interannual increase of 116.9%, ranked fourth with an investment of 124 million euros. dollars and a participation of 7.6%.

The General Directorate of Mining Promotion and Sustainability of the MEM points out that the investment executed by Chinalco Peru, mainly in the development of its Toromocho Expansion project (more than 102 million dollars), allowed the investment in the Plant Benefit item to register an increase year-on-year rate of 8.2% in the accumulated from January to April.

Meanwhile, the investment in Mining Equipment amounted to 78 million dollars in April, adding an increase of 100.5%, product of the investment of Anglo American Quellaveco and Marcobre.

The contribution of both companies contributed to the investment in this item being 308 million dollars from January to April 2019, exceeding in 101.5% the result in similar period of the previous year.

Fuente: Andina

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