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Peru to see over $20 billion in mining investments by 2022

Staff Writer |
The Energy and Mines Ministry (MEM) expects to attract mining investments worth $20.819 billion between 2018 and 2022, an amount that accounts for 35.6% of Peru's total portfolio in this productive sector.

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According to MEM, merely $3.850 billion (6.6%) —from the whole mining investment portfolio ($58.507 billion)— was executed until 2017, thus leaving $54.657 billion (93.4%) to be invested between 2018 and 2027.

In this sense, $2.154 billion is expected to be invested in 2018. This accounts for 10% of the entire amount to be executed in the 2018-2022 period.

Likewise, an investment of $2.929 billion is expected for 2019, meaning a 36% increase over 2018.

The projected investment for 2020 remains on the upward trend ($4.668 billion), up by 59% from a year before.

In addition, $6.522 billion is planned to be invested in 2021, a 40% rise compared to the previous year.

Lastly, an investment worth $4.546 billion is projected for 2022.

According to former Deputy Mines Minister Romulo Mucho, copper production might increase from 2.4 million tons per year to more than 3 million tons by 2021.

Also, gold output would climb from 155 tons to 180 tons by 2021, he concluded.

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