Peruvian government has invested almost 60bn in mining sector

The Peruvian state energy and mining ministry (Minem) announced Monday that the construction portfolio in the local mining sector is $ 56 billion. The portfolio consists of 46 projects, five of which are in the construction phase, four in the detailed planning phase, 17 in the feasibility phase and 20 in the pre-feasibility phase. Minem highlighted that Apurímac and Cajamarca are the regions with the highest number of mining projects, with a total of 12 initiatives representing an investment of US $ 28.143 billion. Apurímac has a total of seven projects valued at US $ 10.243 billion, including the Los Chancas and Haquira copper projects and the Apurimac iron ore project. Meanwhile, Cajamarca has five projects with a total investment of US $ 17.9 billion, including the El Galeno, La Granja and Michiquillay copper projects and the Yanacocha Sulfuros gold project, which is expected to commence execution in 2021. Minem also reported that copper production recovered in October. Peru's national copper production increased 20.5% compared to September, surpassing copper production in the same period last year.