Toromocho mining project is in its final stage, according to Minem

The Chinese state company Chinalco entered the file of the lifting of observations of the project. In the next 30 days the General Directorate of Mining will issue a pronouncement.

According to the Ministry of Energy and Mines (Minem), the expansion of the Toromocho mining project, which seeks to increase the extraction and processing capacity of the mine and which has an investment of US$1,355 million, is already in its final stage. . This was revealed after the Chinese state-owned company Chinalco entered the file of the lifting of observations of said project. The delivery took place through the virtual window of Minem.

For his part, the head of the Minem portfolio, Óscar Vera Gargurevich, entrusted the Vice Minister of Mines, Jaime Chávez Riva, and the General Director of Mining, Jorge Soto, to launch a work agenda with Chinalco to move forward with the initiative and to be able to increase the canon, and thus generate thousands of direct and indirect jobs.

“We aim at the same objective that investments are important for the expansion of operations, complying with regulations, procedures and safety standards, which favors us all, with more work for Peruvians, more production to generate taxes that allow the State to do works. We are strategic partners in this”, pointed out Vera Gargurevich.

It should be noted that, according to the regulations, the Minem has a period of 90 days to respond from the start of the process. However, “the pronouncement of the sector regarding the collection of observations of the Toromocho Expansion project is estimated in the next 30 business days,” said Jorge Soto.

The Toromocho project was named by the head of the Presidency of the Council of Ministers (PCM), Alberto Otárola, within the Government’s strategy to unlock mining projects. Likewise, the Executive also seeks that the permits with Chinalco give confidence to other foreign companies that look to Peru with expectation for their investments.