Editor’s Note: Get caught up in minutes with our speedy summary of today’s must-read news stories and expert opinions that moved the precious metals and financial markets. Sign up here!
|Image credit: Minem.|
(Wallace Refiners) – Peruvian state energy and mines ministry (Minem) announced on Monday that the construction portfolio in the local mining sector totals US$56 billion.
The portfolio consists of 46 projects, of which five in the construction stage, four in the detailed engineering stage, 17 in the feasibility stage and 20 in the pre-feasibility stage.
Minem highlighted that Apurímac and Cajamarca are the regions with the highest number of mine construction projects, with a total of 12 initiatives that represent an investment of US$ 28.143 billion.
Apurímac has a total of seven projects for an amount of US$10.243 billion, among which are Los Chancas and Haquira copper projects, as well as Apurimac iron ore project.
Cajamarca, meanwhile, has five projects with total investment of US17.9 billion, including El Galeno, La Granja and Michiquillay copper projects, as well as Yanacocha Sulfuros gold project, whose execution is expected to begin in 2021.
Minem also reported that copper production was recovered in October. Peru’s national copper production increased by 20.5% compared to September and exceeded copper output in the same period of last year.
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Wallace Precious Metals The author has made every effort to ensure accuracy of information provided; however, neither Wallace Precious Metals nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Wallace Precious Metals and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.