Cajamarca, Apurímac and Arequipa lead mining investments in 2023

According to the Portfolio of Mining Investment Projects 2023, prepared by the Ministry of Energy and Mines (Minem), there are 47 mining projects in 18 regions that involve a investment of US$53,715 million, with Cajamarca, Apurímac and Arequipa leading the list with 64.2% of the total investments (US$34,510 million).

In detail, Cajamarca is the region that ranks first with six mining projects that represent an investment of US$18,494 million (34.4% of global investment). In this group, La Granja (US$5,000 million) and Yanacocha Sulfuros (US$2,500 million) stand out, whose construction is expected for 2024.

The second place is occupied apurimac, with seven projects and a joint investment of US$10,199 million (19% of the global investment). Hierro Apurímac, Los Chancas and Haquira are the projects that stand out with disbursements of US$2.9 billion, US$2.6 billion and US$1.86 billion, respectively.

Arequipa It is in third place with an investment of US$5,817 million, which represents 10.8% of the total portfolio with 4 projects, the most representative being Zafranal (US$1,473 million) due to the start of construction scheduled for 2024.

Meanwhile, Moquegua has 4 mining projects that imply investments of US$3,275 million, which highlights the Ilo Expansion of US$1,300 million. While Piura has 2 projects for US$2.950 million, the most important being the Río Blanco with US$2.500 million. Both regions together represent 11.6% of global investment.

Ancash continues with 5 projects and Cusco with 2 projects that boast an investment of US$2,889 million and US$1,880 million, respectively. Together, both regions represent 8.9% of the total disbursement. The Antamina Replacement project stands out with US$1,604 million and Quechua with an investment of US$1,290 million.

Regarding the regions that show a participation of more than 2% of the total investment, there are Junín (US$1,586 million), La Libertad (US$1,485 million) and Ayacucho (US$1,319 million), which together represent 8.2% of the whole portfolio. Toromocho expansion (US$1,355 million), La Arena II (US$1,364 million) and Reposición Inmaculada (US$1,319 million) are the most significant projects in these areas.

Finally, Lambayeque, Puno, Huancavelica, Lima, Pasco, Amazonas, Ica, and Huánuco together account for 7.1% of the total portfolio investmentwith a group investment of US$3,822 million, distributed in 11 projects.