Mining investments are rising in Peru, with projects slated for the next decade amounting to $59.3 billion in the latest data collection by the local government in November, up from the $58.51-billion tally in March.
Peru has three mining projects already in the construction phase and nine more scheduled to begin in December, the data show. There are another 16 projects expected for the 2019-21 period and 21 holding for permits or final decisions by companies until 2027. Most of the new investments are aimed at greenfield operations. The Peruvian government expects 38 new projects, amounting to $52.13 billion, to build new mines or replace depleted ones. Copper will continue to be the main mined ore in these new operations, the data show. Investments in copper mines are forecast to reach $40.15 billion among 26 of the 49 projects. There are also iron...