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Mining projects worth $56 billion planned in Peru

Staff writer |
The 47 mining projects under development in Peru are worth $56.41 billion, with 24 of the ventures dedicated to exploration and six others involving expansions of existing operating units.

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Environmental impact studies have been completed for 14 projects, while the environmental impact studies for three other projects are still in the evaluation phase, Andina news agency reported, citing Energy and Mines Ministry figures.

The main exploration projects are Galeno, La Granja, Michiquillay, Cañariaco, Haquira, Rio Blanco, Quechua, Los Chancas and Los Calatos, while expansion projects are planned at Cerro Verde, Toromocho, Marcona, Bayovar, Toquepala and El Porvenir.

Environmental impact studies have been approved and construction authorized for the Las Bambas, Quellaveco, Conga, Crespo, Shauindo and Shouxin projects.

Las Bambas, located in Apurimac region, is the largest Chinese investment project in Peru.

The MMG consortium plans to invest $10 billion to produce copper, zinc, silver and gold at Las Bambas.

China is currently the top investor in Peru’s mining industry, pumping $19.18 billion into different projects, Energy and Mines Ministry figures show.

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