Over the next three years, the Peruvian economy will be stimulated by a surge in mining output mainly drven by the extraction of copper; all this thanks to the implementation of projects such as Toromocho, Constancia and Las Bambas, Finance Minister Alonso Segura reported.
“Mining production, especially that of copper, will be very strong in the following two or three years and this, in turn, provides a support to the economy,” he said.
Segura noted there are several mining projects at different stages of development in the portfolio such as Quellaveco (Moquegua) and Tia Maria (Arequipa).
Regarding the sale of the Michiquillay copper project by Multinational miner Anglo American, he said the company took this decision to focus on the execution of Quellaveco.
“It must be acknowledged that the decline in metal prices and liquidity constraints faced by enterprises at an international level, which has nothing to do with Peru, has reduced the chance to carry out new projects, which encourages mining companies to favor some projects, and neglect others,” he told RPP Noticias.
(END) RGP/JJN/RMB
Published: 1/13/2015