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Mining investment exceeded US$5.2 billion in 2021, according to Minem

The mining investmentaccumulated at the end of 2021, amounted to US$ 5,238 million, an increase of 21.1% compared to the same period of the previous year (US$ 4,325 million), reported the Ministry of Energy and Mines (mine).

According to Mining Statistical Bulletin (BEM), in December 2021, mining investments totaled US$788 million, which meant a significant increase of 65.8% compared to what was registered the previous month (US$475 million), and an increase of 18.7% in reference to the same month of 2020 (US$ 664 million).

In this sense, it was possible to achieve the highest figure of investment executed at the end of 2021. It should be noted that four of the six investment items reported positive year-on-year variations in their executed amounts, as is the case of Mining Equipment (+65.1% ), Exploration (+75.7%), Infrastructure (+42.6%) and Development and Preparation (+52.4%).

Evaluation by companies

At the mining title level, Anglo American Quellaveco (US$ 1,312 million) maintained the first position, representing 25% of the total investment due to the investment made in its “Quellaveco” project.

Similarly, Compañía Minera Antamina (US$481 million) and Southern Peru Copper Corporation (US$339 million) maintained their positions, occupying second and third place with shares of 9.2% and 6.5%, respectively.

It is important to mention that the three companies mentioned together represented 40.7% of the total executed investment.

Metallic and non-metallic mining production grew in 2021

In 2021, the increase in the production of the main metallic and non-metallic products in Peru was observed compared to the results of the previous year.

Copper production, one of the supports of the Peruvian economy, grew by more than 6% in the year-on-year comparison; that of gold, 9.7%; that of zinc, 14.8%; silver, 21.5%; that of lead, 9.3%; iron, 36.6%; and that of molybdenum, 6.1%, according to the BEM.

A relevant contribution to the result obtained with copper, the country’s main export product, was the start-up of Mina Justa, in Ica, which began its exploitation activities in July 2021.

In the case of gold, the better results obtained by the companies Compañía Minera Poderosa and Minera Yanacocha were key to the growth registered in 2021, compared to 2020. While the increase in zinc production, in the year-on-year comparison, was promoted by Compañía Minera Antamina, Volcan Compañía Minera and Nexa Resources Peru.

Similarly, the production of the nine main non-metallic products in the country increased in 2021, compared to the result of 2020: limestone/dolomite grew 44.9%; that of phosphates, 25.4%; that of concrete, 35.1%; stone, construction, 61.8%; that of calcite, 54.8%; shellfish, 81.4%; sand (coarse/fine), 59.8%; clay, 121.7%; and that of salt, 14.1%, according to the BEM.

Source: Larepublica

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