Thanks to investments registered during previous and current administrations, mining production will strongly expand thru 2018, Peru's Finance Minister Alonso Segura expressed.
"This important growth will be generated by both production and investment. Despite future investments, already-launched projects' production will be much stronger," the official told reporters.
Thanks a US$5.767 billion investment, Toromocho (Junin), Constancia (Cusco), Inmaculada (Ayacucho) and Anama (Apurimac) mining projects entered into operation in 2015.
Only Toromocho demanded US$3.5 billion; followed by Constancia (US$1.8 billion), Inmaculada (US$427 million) and Anama (US$40 million).
Peru's advantages
"Large international mining projects have been systematically shut down due to the metal price decline the industry goes through; nonetheless, mining projects remain in place in Peru," he expressed.
Despite the complex situation experienced by Latin America and other raw-material exporting countries, Peruvian economy's growth rate has accelerated, he added.
Regional star
According to analysts, Peru's GDP is expected to increase by 3.5% in 2016. Thus, it will be ranked among Latin America's highest-growing economies.
(END) CNA/JJN/MVB