Image of a mining truck. Photo credit: Desdeadentro.
Chinese mining companies have invested a total of US$11.3 billion in seven mining projects in Peru, which represents 20.8% of the total mining investment portfolio in the country, according to the latest report from the Peruvian Ministry of Energy and Mines (Minem).
With this level of investment, China stands out as the country with the largest investment in the Peruvian mining sector.
Minem's Mining Investment Projects Portfolio 2024 report, compiled by the General Directorate of Mining Promotion and Sustainability, includes 51 projects with a total investment of US$54.5 billion. This is an increase of 2.7% compared to the July 2023 portfolio, which had 46 projects and a total investment of US$53.1 billion.
However, despite the predominance of Chinese capital, the mining sector in Peru shows considerable investment diversification. Canada is the second largest investor with US$10.3 billion channeled into nine projects representing 18.9% of total investment in the country.
Mexico is in third place, contributing US$9.4 billion in seven projects, equivalent to 17.3% of the mining portfolio, followed by the United States with an investment of US$7.75 billion in three projects, representing 14.2% of the total.
In addition to foreign investments, Peruvian companies also have a significant participation in the mining industry, with a total of US$3.8 billion allocated to 10 projects, representing 7% of the total portfolio.
Among the mining projects that have received Chinese investment are Pampa de Pongo in Arequipa, El Galeno in Cajamarca, Chalcobamba in Apurímac, Don Javier in Arequipa, Reposición Ferrobamba in Apurímac, Río Blanco in Piura, and the expansion of Toromocho in Junín.
The report also highlights the addition of six new projects in Peru: Ferrobamba Repositioning (US$1.7 billion), Coimolache Sulfides (US$598 million), Mina Justa Underground (US$500 million), Colquijirca Repositioning (US$431 million), Huancapetí Expansion (US$345 million) and Huachocolpa Expansion (US$167 million).
Main source:
China lidera las inversiones mineras en Perú con más de US$ 11 mil millones – Gestión.pe.
