Mining investment in exploration will reach US $ 390 million in Peru during 2021

The mining sector in Peru will accumulate a total of US $ 390 million investment in exploration activities during 2021. This figure represents an increase of 5% compared to last year, according to Miguel Cardozo, vice president of the Institute of Mining Engineers of the Peru (IIMP).

However, this amount represents only 3.5% of the world budget of US $ 11.2 billion that mining exploration had this year. “The highest percentage reached by Peru in the global investment budget in mining exploration was 6.5% in 2017. From there, there was a systematic fall to 6.3% (2018), 6% (2019) and 4 , 5% (2020) ”, specified Cardozo.

The mining sector represents 40% of the economy in the south

On the other hand, the IIMP representative stated that mining represents 40% of the economic activity of the southern departments. In this way, he detailed that the sector contributed S / 28,000 million for canon and royalties in the last 20 years, and benefited 2.6 million inhabitants of this part of the country with direct and indirect employment.

“The southern macro-region has 50% of the portfolio of mining projects nationwide. We have the privilege of mining potential and we must get the most out of it ”, he stressed.