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Peru eyes $10 billion in mining projects in 2018

Staff Writer |
Peruvian mining is in a good moment, and the sector may materialize projects valued at $10 billion by the end of 2018, Energy and Mines Minister Cayetana Aljovin said.

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"Expectations for major investments in mining projects are doing great. It is clear that metal prices make a number of projects feasible and companies' boards feel much more comfortable [in this sense]," Aljovin explained.

The projects in question are Corani (Puno region), Mina Justa (Ica), Quellaveco (Moquegua), the expansion of Toromocho (Junin) and Pampa de Pongo (Arequipa).

The government official noted the ventures consider "a copper price of $3 per pound, which catalyzes halted investment decisions regarding projects so that these are a lot closer to being realized."

Social Pre-Payment Fund The Mines head also underlined the government's work in identifying the areas that will benefit from the Social Pre-Payment Fund, which involves investing in basic infrastructure to close social gaps among populations settled in mines' influence areas.

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