In her presidential address for Fiestas Patrias, President Dina Boluarte announced that, after the green light for Tía María, her government will now focus on unblocking five mining projects valued at US$2.025 billion.
These are the Quellaveco Expansion (Moquegua), Corani (Puno), Raura Replacement (Huánuco), Chalcobamba Phase I (Apurímac), and Romina (Lima), which, according to the president, will be started on construction as soon as possible.
For example, Corani, operated by Bear Creek Mining SAC, is a silver project valued at US$579 million, while Reposicion Raura is a zinc project valued at US$76 million, operated by Compañía Minera Raura SA
Meanwhile, Chalcobamba Phase I, owned by Minera Las Bambas SA, is expected to produce copper and is valued at US$130 million. The Romina zinc project, operated by Compañía Minera Chungar SAC, involves an investment of US$150 million.
Later, in interviews with various media outlets, the Minister of Energy and Mines, Rómulo Mucho, mentioned another copper project that could see the light of day this year, but which is still at a conceptual level.
This is Michiquillay (Cajamarca), which belongs to Southern Perú Copper Corporation, Peru Branch, and if unblocked, its investment will be US$2.5 billion.
IIMP: granting of permits must be completed in 2024
In this regard, the Vice President of the Peruvian Institute of Mining Engineers, Juan Carlos Ortiz, said he hopes that by the second half of 2024, the Executive will complete the process of evaluating and granting construction permits for the projects mentioned in President Boluarte’s speech.
“Companies must be simultaneously evaluating financing mechanisms so that by the end of the year they can submit to their respective boards of directors the decision to begin construction as of 2025, which would be extremely positive for the country’s economy and return to the path of growth that all Peruvians want,” he said.
Source: Larepublica
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