Mining investments in Peru rose 4 percent in July, month-on-month, and 18.8 percent, year-on-year, according to data released this week by the country’s ministry of mines and energy, Minem. According to government data, mining investments in Peru reached $400 million in July this year.
Mining investments in Peru in the accumulated period of January to July this year totaled $2.3 billion, 29.1 percent up, year-on-year, Minem said.
Minem said Shoungang Hierro Peru was among the companies who invested the most in July. The company invested $36 million in July, and has just completed the expansion of its Marcona mine. Shoungang Hierro Peru invested a combined $1.1 billion to expand its Marcona mine from an iron ore capacity of 11 million mt/year to 21 million mt/year.