The governments of Peru and China signed promotion agreements and memorandums of understanding (MoU) surrounding mining and energy projects within the framework of the Asia-Pacific Economic Cooperation (APEC) Economic Leaders’ Summit 2016, Peru’s Ministry of Energy and Mines informed.
It reports that around US$5.3 billion is expected to be invested in mining sector related projects.
Peru's Energy and Mines Minister Gonzalo Tamayo signed the said documents on behalf of the Peruvian State.
The promotion agreement for US$2.5 billion investment in Rio Blanco project was signed with Xiamen Zijin Tongguan Investment Development Corporation. The signing took place at the Foreign Affairs Ministry headquarters in Lima, within the framework of the Second Meeting on the Peru-China Strategic Dialogue on Economic Cooperation.
A similar accord was reached with Zhongrong Xinda Group Co. in order to finance Hierro Pampa de Pongo mining project in Arequipa, Peru with an investment amounting to at least US$1.5 billion.
A third agreement was signed with Aluminum Corporation of China (Chinalco). It will enable the expansion of Toromocho mining project. In this case, investment is projected to total US$1.3 billion.