Peru boasts US$56 billion construction portfolio in mining sector

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Image credit: Minem.

(Kitco News) – Peruvian state energy and mines ministry (Minem) announced on Monday that the construction portfolio in the local mining sector totals US$56 billion.

The portfolio consists of 46 projects, of which five in the construction stage, four in the detailed engineering stage, 17 in the feasibility stage and 20 in the pre-feasibility stage.

Minem highlighted that Apurímac and Cajamarca are the regions with the highest number of mine construction projects, with a total of 12 initiatives that represent an investment of US$ 28.143 billion.

Apurímac has a total of seven projects for an amount of US$10.243 billion, among which are Los Chancas and Haquira copper projects, as well as Apurimac iron ore project.

Cajamarca, meanwhile, has five projects with total investment of US17.9 billion, including El Galeno, La Granja and Michiquillay copper projects, as well as Yanacocha Sulfuros gold project, whose execution is expected to begin in 2021.

Minem also reported that copper production was recovered in October. Peru’s national copper production increased by 20.5% compared to September and exceeded copper output in the same period of last year.

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