Peru: Investments in mining exploration totaled US$111 million in January-April 2022 | News | ANDEAN

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The Peruvian Ministry of Energy and Mines (Minem) announced on Sunday that investments in mining exploration amounted to 111 million dollars between January and April this year, up 28.5% compared to the same period last year, when they amounted to $86 million.

Minem said that, given its significant mining potential, Peru remains one of the best destinations for mining investment.

According to the Mining Statistical Bulletin (BEM), prepared by the General Directorate for Mining Promotion and Sustainability, exploration is a key phase of the mining process, as it supports production through the discovery of new deposits and contributes to the renewal of future resources and mining operations. reserves in the market.

In this regard, the exploration accumulated between January and April of this year is the result of a larger investment by the mining company Buenaventura ($19.4 million), which accounted for 17.6% of the total.

Meanwhile, mining companies Poderosa ($11 million) and Jinzhao Mining Peru ($9.7 million) accounted for 10.0% and 8.7%, respectively.

BEM also reports that only in April did exploration investment hit $37 million, a monthly increase of 26.8% ($29 million).

Moreover, it reflects a growth of 59.3% compared to April 2021 (23 million USD), thanks to investments from Jinzhao Mining Peru, Buenaventura and Poderosa.

(END) NPD/MDV/RMB

Posted: 6/5/2022

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