Peru: Mining investments total US$42.00 billion, hit record
ANDINA
14:24.
Lima, Jul. 26. Peru's mining sector reached a record investment figure of US$42.00 billion over the last five-year period, Deputy Minister of Mines Guillermo Shinno reported on Tuesday.
"Record investments close to US$42.00 billion were reached during this five-year term in office," Shinno told Andina news agency.
"The country's mineral production, especially of copper, was increased. Therefore, Peru turns into the world's second-largest copper producer," he stressed.
Comparative advantages
The official went on to add progress was possible, regardless of the current international context and low prices of precious metals gold and copper.
"[...] Peru offers low and optimal operating costs, compared to those registered in other regions," he affirmed.
Moreover, comparative advantages are based on a "highly-competitive skilled and unskilled workforces," Shinno stressed.
In this sense, he noted benefits contribute to drawing investors' attention.
"No mining unit was shut down in Peru, although in the South, in Chile, many units were shut down," he added.
Portfolio
The current potential mining-project portfolio stands at US$50.00 billion, half of which is currently in the "exploratory stage," he highlighted.
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