Peru to Witness $41.9bn Mining Investments over Ten Years

9 February 2011 (Last Updated February 9th, 2011 18:30)

Peru's National Society of Mining, Petroleum and Energy (SNMPE) said the country’s mining sector will see an investment of about $41.9bn over the next ten years. SNMPE president Pedro Martinez told reporters that about $10bn in investments are expected in the sector between 2011 and 20

Peru's National Society of Mining, Petroleum and Energy (SNMPE) said the country’s mining sector will see an investment of about $41.9bn over the next ten years.

SNMPE president Pedro Martinez told reporters that about $10bn in investments are expected in the sector between 2011 and 2012.

Martinez said that Xstrata's Antapaccay copper project, with investments about $1.5bn, and the Mar Cobre copper project, owned by Canada's Chariot Resources with an estimated investment of $744mn, are likely to go into production next year.

Anglo American's Quellaveco copper mine project and Yanacocha's Minas Congas gold project, each with a $3bn investment, will move into production in 2014.