Mining investments in Peru reach $4.1 billion in January-November period

Monday, 07 January 2019 23:04:48 (GMT+3)   |   Sao Paulo

Mining investments in Peru in the accumulated period of January to November reached $4.1 billion, the local ministry of mines and energy (Minem) said on Sunday.

According to Minem, mining investments in Peru in the January-November period rose 25.4 percent, year-on-year.

Additionally, mining investments in Peru in the 11-month period was also 6.4 percent up when compared to the full year of 2017, Minem said.

Minem said investments in beneficiation plants in November reached $107 million, and $1.2 billion in the January-November period, out of the total $4.1 billion total investments in the local mining sector.

Shougang Hierro Peru was among the companies that invested the most in 2018. A key project was the expansion of the Marcona iron ore mine.

With the expansion, Shougang Hierro Peru expects to increase its iron ore production out of the Marcona mine from 11 million mt/year currently to 21 million mt/year.


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