Between 2013 and 2015, nearly US$5.60 billion was invested in Arequipa-based Cerro Verde mining project’s expansion process.
Investment has turned the project into the world's third-largest mine, the company’s Communications and Public Affairs Manager Pablo Alcazar announced.
Thanks to such fund, Arequipa region currently hosts the country's greatest mining investment at regional level, with US$7.245 billion allocated over the last 10 years.
Additional fund
In the coming years, an investment worth US$1.00 billion is expected to be mainly spent in good, services and input procurement, Alcazar indicated.
"Besides being the world's third-largest mine, it is also considered the planet's top copper concentrator, which denotes a major responsibility, since it consolidates as a vital development engine for both Arequipa and Peru," the officer told Andina news agency.
It must be noted such project contributes to generating 4,000 direct and 36,000 indirect jobs nationwide.
Full production
This year, copper extraction at Cerro Verde will exceed 500,000 metric tons, which accounts for total production capacity.
Remarks were made following his participation in the "Economic Meeting: Arequipa region," organized by Peru's Central Reserve Bank (BCR).
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