Peru's mining sector reached a record investment figure of US$42.00 billion over the last five-year period, Deputy Minister of Mines Guillermo Shinno reported on Tuesday.
"Record investments close to US$42.00 billion were reached during this five-year term in office," Shinno told Andina news agency.
"The country's mineral production, especially that of copper, was increased. Therefore, Peru turns into the world's second-largest copper producer," he stressed.
Comparative advantages
Progress was possible, regardless of the current international context and low prices of precious metals gold and copper.
"[...] Peru offers low and optimal operating costs, compared to those registered in other regions," Shinno stressed.
Likewise, comparative advantages are based on "highly-competitive skilled and unskilled workforces."
In this sense, he noted benefits contribute to drawing investors' attention.
Portfolio
The current potential mining-project portfolio stands at US$50.00 billion, half of which "is currently in the exploratory stage," he highlighted.
(END) MDV/JJN/HMC/MVB
Published: 7/26/2016