Mining investments in Peru reached $395 million in August, 6.3 percent up, year-on-year, according to the nation’s ministry of mines and energy (Minem).
In the accumulated period of January to August this year, mining investments in Peru totaled $2.7 billion, up 25.2 percent, year-on-year. Minem said mining investments in the January-August period were mainly destined to beneficiation plants, although the ministry did not release a specific figure.
Shougang Hierro Peru, the country’s largest iron ore producer, completed recently a combined $1.1 billion investment to expand its Marcona mine from an iron ore capacity of 11 million mt/year to 21 million mt/year.