Companies from China, Canada, Mexico and U.S. lead mining projects in Peru

Companies from China, Canada, Mexico and U.S. lead mining projects in Peru

LIMA, April 1 (NNN-ANDINA) — Investments in mining projects across Peru —broken down by country of origin— are led by companies from China, Canada, Mexico, the United States, and 7 other countries with financing sources from the Americas, Europe, Asia, and Oceania, the Ministry of Energy and Mines (Minem) reported.

Likewise, the government agency stated that the 2024 portfolio of mining investment projects showcases 51 projects in 18 regions with a joint investment of US$54.556 billion.

The new portfolio, prepared by Minem’s General Directorate of Mining Promotion and Sustainability, shows that China occupies the first place of investments and accounts for 20.8% of the total investment in the portfolio, distributed in 7 projects with a combined amount of US$11.371 billion.

The ministry highlights the following investors: China Minmetals Corporation, Zijin Mining Group Co. Ltd., and Zhongrong Xinda Group Co. Ltd., and their projects El Galeno, Rio Blanco and Pampa de Pongo, respectively.

Meanwhile, Canada ranks second with a total amount of US$10.335 billion, which represents 18.9% of the total investment, distributed in 9 mining projects.

The most outstanding investors include First Quantum Minerals Ltd., with La Granja and Haquira project; Panoro Minerals Ltd., with the Cotabambas project; Pan American Silver Corp., with La Arena II; and Highlander Silver Corp., with the San Luis project.

For its part, Mexico clinched the third position with US$9.450 billion and represents 17.3% of the total investment. They are distributed in 7 projects, with Los Chancas, Michiquillay, and the Ilo expansion project being the most notable.

The list also includes the United States, which registers US$7.750 billion, 14.2% of the total investment in the portfolio.

The most important projects are Yanacocha Sulfuros, by Newmont Goldcorp Corp.; Bayovar Expansion, by Mosaic Company, and San Luis, by Highlander Silver Corp.


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