Chinese firms have committed to invest some US$10.18 billion in seven mining deposits across Peru, according to the latest report issued by the Andean nation's Ministry of Energy and Mines (MEM).
China is the largest mining investment source of Peru; its investment accounts for 22.5% of mining projects.
The seven China-funded projects are Pampa de Pongo (Arequipa), Galeno (Cajamarca), Don Javier (Arequipa), Explotacion de Relaves (Ica) and Rio Blanco (Piura), as well as the expansion of Toromocho (Junin) and Marcona (Ica) projects.
Las Bambas (Apurimac), whose operation saw an investment of over $10 billion, is not considered anymore.
Canada is Peru’s second largest mining investor with US$9.87 billion, followed by Great Britain with US$6 billion. Other major investors are the United States, Mexico, Australia, Brazil and Japan.
Peruvian companies also plan to invest US$3.2 billion; their investments account for 7.5% of the total projects.
MEM estimates the mining investment portfolio at the national level amounted to US$45.5 billion as at September 2016.
The portfolio compromises 47 key projects in comparison to March (50 projects). Las Bambas (Apurimac), San Luis (Ancash) and the expansion of Cerro Verde (Arequipa) are not considered now.
(END) CNA/CAN/RMB
Published: 9/24/2016