PUBLICATION
Peru Mining 2018 Pre-Release
The start of 2018 has coincided with rising metal prices, increased metal export revenues and solid expectations that a new wave of mining projects will begin construction soon in Peru. So far, the country's political turmoil is not stopping the plans for large greenfield projects like Quellaveco and Marcobre, while there are brownfield expansions on the horizon, for instance at Toromocho. In other words, mining companies have faith in the current cycle and, because they look at the long term, are not so scared by the day-to-day political instability. Indeed, after three years of decline, total mining investment in Peru went up by 15% to reach $4.9 billion (+34% in exploration expenditures), and the government expects a further 20% increase in 2018.
RELATED INTERVIEWS MORE INTERVIEWS
RELATED ARTICLES MORE ARTICLES
Peru: Exploration Gains Momentum
Engineering and Construction
RECENT PUBLICATIONS
It is said that mining is a patient industry. Current demand projections are not. Demand for minerals deemed ‘critical’ is set to increase almost fourfold by 2030, according to the UN. Demand for nickel, cobalt and lithium is predicted to double, triple and rise ten-fold, respectively, between 2022 and 2050. The world will need to mine more copper between 2018 and 2050 than it has mined throughout history. 2050 is also the deadline to curb emissions before reaching a point of ‘no return.’ The pace of mineral demand and the consequences of not meeting it force the industry to act fast and take more risks. Mining cannot afford to be a patient industry anymore. The scramble for supply drives miners back to geological credentials, and therefore to places like the African Central Copperbelt.
MORE PREVIOUSLY PUBLISHED
MACIG
SUBSCRIBE TO OUR NEWSLETTER
- Get GBR content delivered to your inbox
- Receive industry based news
- Completely free, e-mail only
