POST Online Media Lite Edition


Peru relies on 49 mining projects worth over $58 billion

Staff Writer |
Energy and Mines Minister Francisco Ismodes informed Peru's mining sector has so far identified 49 projects, which exceed $58 billion in investments.

Article continues below

According to the official, this will significantly contribute to dynamizing the economy and closing the social gaps that still exist in some regions of the Inca country.

However, he affirmed, this portfolio does not include projects currently in the exploration stage.

On the other hand, Minister Ismodes said the sector relies on an investment portfolio consisting of committed projects totaling $14 billion.

Nevertheless, he pointed out the administration's goal is to boost private initiatives in order to reach $21 billion in mining investment by 2021.

Ismodes went on to add Peru held the fifth position in the world's 2017 exploration investment ranking.

Within this framework, the Inca country drew 7% of the globe's total exploration budget, worth $524 million.

The official highlighted also the importance of continuing with the mining formalization process aimed at assisting thousands of artisanal miners to join the formal economy, as well as to adapt to environmental and labor regulations.

Finally, he affirmed the Central Government is focused on fighting illegal mining activities with the aim of preventing further harm to the Amazonia.

What to read next

Mining investment surges 142% in Peru
Peru to see over $20 billion in mining investments by 2022
World Bank: Peru did excellent job