Peru’s Central Reserve Bank (BCR) Governor Julio Velarde estimates copper output will grow 95% by 2018 as a result of the launch of mining project Las Bambas and the expansion of Cerro Verde and Toquepala.
During his speech given within the framework of the Closing Ceremony Towards Perumin in Arequipa, Velarde said efforts need to be redoubled to resume stalled projects such as Tia Maria, which will further boost the national economy.
“Using 2014 as a baseline, we expect copper production will be 95% higher in 2018 thanks to the new projects that will start operating,” he said.
Velarde forecasts a tremendously considerable growth in this sector and said copper production for this year is set to reach 2.5 million metric tons.
“We have to peel away obstacles and promote mining explorations. Even though they have seen a substantial fall, we cannot reach higher production goals without them,” he added.
(END) JCC/JCC/RMB/MVB
Published: 11/2/2015