Mining activity will emerge as one of Peru's growth engines, as supported by different company investment announcements for 2017 and subsequent years.
Buenaventura mining company will add US$200 million to its investment in different projects across the Andean country this year, its General Manager Victor Gobitz told El Peruano official gazette.
"Resources are mainly aimed at completing Tambomayo works, and at support programs in the operations portfolio," he said.
Gobitz went on to say Peru's
mining activity is one of the most competitive on a global scale.
Investment plans for this year include production in Tambomayo mine, and ventilation infrastructure upgrades in Orcopampa mine.
He referred to the company's major challenge in La Zanja mine, saying they are exploring gold and
copper deposits at Vizcacha and Emperatriz zones, respectively.
Julcani mine infrastructure is set to be optimized, while Mallay mine's capacity will be expanded.
As for El Brocal, the underground mine will see an expansion, 13 km away from San Gregorio project.
In the case of Cerro Verde, all the conditions necessary for its excellent operational performance will be secured.
Tia Maria project
Southern Copper CEO Oscar Gonzales reiterated investment in
Tia Maria mining project (Arequipa) will reach US$1.4 billion.
He noted the company is working hand-in-hand with local farmers to develop agriculture and mining activities at the same time.
Gonzales disclosed that engineering works at Toquepala mine (Tacna) are 94% complete, while civil works have achieved 78% completion.
(END) DOP/CNA/RMB/MVB
Published: 6/7/2017