It is possible to unlock mining projects valued at US$20.00 billion, comprised in a US$55.00 billion portfolio, Peru's Mines Deputy Minister Guillermo Shino said.
The initiative will be possible if disputes and administrative procedures are solved.
"If disputes and red tape-related matters are solved, mining projects Tia Maria, Rio Blanco, Haquira and Zafranal might be developed. [...] projects are worth close to US$20.00 billion," Shinno told official newspaper El Peruano.
Most of the aforementioned projects are medium-sized. A couple of them are the "big ones," such as Quellaveco. Its implementation demands over US$3.00 billion.
Social Pre-payment
Castro welcomed President Kuczynski's Government proposal to implement Adelanto Social (Social Pre-payment) and the creation of the National Social Conflict Prevention System.
Social Pre-payment is aimed at developing infrastructure and public programs related to health, energy, security, water and sanitation for the benefit of communities, before developing extractive projects in their areas of residence.
"So, if a community needs water, we will bring them a water and sanitation project. In this sense, new schools, health centers will be built. Thus, it will be easier for mining projects to enter [such areas]," he said.
(END) MMG/MDV/JHM/MVB