Chairman of the National Society of Mining, Petroleum and Energy (SNMPE) Carlos Galvez said Peru has a mining project portfolio valued at US$25 billion that might become activated if there is increased dialogue with communities in areas of influence.
He said many mining projects require additional dialogue to get them off the ground.
“The [current] mining project portfolio stands at nearly US$60 billion, of which US$25 billion might be implemented with further dialogue,” he noted.
Mining portfolio
“The mining project portfolio is relevant. It includes the expansion of Toquepala and Cuajone, and the development of Quellaveco, La Granja, Chancas and Tia Maria projects, among others,” he was quoted as saying by Andina news agency.
As for Conga, market conditions and the price of gold will have to be assessed within the next five years after having invested US$1.5 billion in the project.
Medium-sized mining projects should be given higher priority than large-scale ones. “One of these projects has to do with the expansion of Toquepala.”
According to Galvez, the mining investment portfolio in Peru totals US$58.346 billion.
"Out of the total, mining projects with approved Environmental Impact Assessment (EIA) account for 40%, exploration investment for 40%, operational projects expansions for 16.9% and projects with EIA's studies submitted for 1.5%," CooperAccion informed.