PUBLICATION

Global Business Reports

AUTHORS

Alfonso Tejerina, Lucrezia Falcidia

Peru Mining 2019 Pre-Release II

May 14, 2019

Though 2019 has been marked by political upheaval in Peru as the Odebrecht scandal continues to unfold, the country’s mining industry has been steadily gathering pace. In 2018, three key developments helped to raise total mining investment to US$4.95 billion: the US$1.3 billion expansion project at the Toromocho copper mine, operated by Chinalco; the start of construction of Mina Justa, a US$1.7 billion copper project; and the final green light by Anglo American to build the Quellaveco copper operation, a project with an estimated capex between US$5 billion and US$5.3 billion. 

In 2019, total mining investment is projected to reach around US$6 billion, underpinned by strong developments in the copper sector and a promising pipeline of projects across a range of other metals. Gold remains a standout performer, but the country’s depleting resources suggest the need for new discoveries. The industry’s strong performance has had a discernable impact on contractors and service providers, which routinely identify Peru as a key market for growth. The country continues to navigate how best to incentivize industry while supporting community needs, but stakeholders’ growing appreciation for the economic benefits a mine can bring suggest that the industry has a bright future indeed.

RELATED INTERVIEWS MORE INTERVIEWS

ProExplo is one of the key geological-mining meetings in Latin America that brings together government, industry leaders and explorers.
Plateau Energy Metals is a Canadian lithium and uranium exploration and development company focused on its properties in southeastern Peru.
Auryn Resources is a technically driven, capital efficient exploration company focused on delivering shareholder value through accretive project acquisition.
Tinka Resources remains bullish about the supply and demand of zinc as its Ayawilca project moves forward.

MACIG

AARD designs, manufactures, services and supports a range of mining equipment in sub-Saharan Africa.

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