PUBLICATION
Global Business Reports
Peru Mining 2018
September 10, 2018
Despite its faults and recent episodes of corruption and political drama, Peru continues to be perceived as a favorite destination for mining investors. This is proven by the renewed dynamism of its exploration market and by the recent investment announcements. In July, Anglo American made official its decision to build the US$5.3 billion Quellaveco copper mine, while in August Minsur started pre-stripping activities at the US$1.7 billion Mina Justa copper operation. These developments add to the ongoing expansion at Chinalco’s Toromocho operation. Increased mining investment in the country is expected to translate into stronger GDP growth, now forecast at 4% for 2018 according to Peru’s Central Reserve Bank.
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"We plan to double our copper production by the end of the decade. There remains significant upside potential in the gold industry, and the copper operations are strategic and additive to that."
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