Mining investment accumulated in the tenth month of the year again recorded a drop and fell -13.5% compared to the same period in 2022, according to the Mining Statistical Bulletin (BEM) prepared by the Ministry of Energy and Mines (Minem).
Thus, between January and October 2023, investments in the sector did not exceed US$3,591 millioncompared to the US$4,152 million that were already available in the first ten months of the previous year.
After Quellaveco, no other large-scale project has emerged that leverages the industry’s figures. Proof of this is that the drop in investments associated with infrastructure reaches -21.8%.
The US$424 million invested by mining in October 2023 alone is even 2.6% below the US$435 million in the same month of 2022. The Minister of Economy and Finance, Alex Contrerasis aware of this lethargy and highlighted the progress made this year to unlock an agenda worth more than US$13 billion.
This agenda includes Zafranal, La Granja, Coroccohuayco Integration, Falchani, Antamina Extension, Inmaculada Optimization, Mina Justa y Raura and Mina Julcani.
“There is a portfolio, and well managed and without losing standards [medioambientales] “It can generate more income,” he said during a Proinversión event.
The MEF remains optimistic and expects, until 2025, the start of construction of 7 projects miners for US$4,646 million, of which only one of them (Toromocho, phase II) is currently being executed.
Production continues to rise
The production has better energy. According to him BEM, the accumulated extraction of copper until October recorded a progress of 14.3%, with 2 million 246,053 t. The performance was similar for iron, gold and zinc.
Mining exports until September also improved due to the price factor, and reached US$31,456 million, 9.4% more than in 2022.
Figures
- The mining portfolio contains 47 billion dollars for the coming years.
- 10% more gold, zinc and lead was extracted in October compared to the same month in 2022.
Source: Larepublica
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