Investments in Peru’s mining sector increase in 2018

Tuesday, 25 June 2019 23:50:23 (GMT+3)   |   Sao Paulo

Investments in the Peruvian mining sector in 2018 rose 26 percent, year-on-year, the local ministry of mines and energy, Minem, said this week.

According to government data, mining investments in Peru reached $4.9 billion in 2018. The government said the increased mining investments are due to several projects, including Shougang Hierro Peru’s expanded Marcona iron ore mine.

Shougang Hierro Peru spent $1.1 billion to increase iron ore production from 11 million mt/year currently to 21 million mt/year.

The Peruvian government said out of the total $4.9 billion invested in the local mining sector, $1.4 billion was for beneficiation plants, including the Marcona project.

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