USEUROPEAFRICAASIA 中文双语Français
Business
Home / Business / Industries

China to lead foreign investment in Peruvian mining sector

Xinhua | Updated: 2017-03-04 10:29

LIMA - China, Canada and the US will account for 53 percent of investments in the Peruvian mining sector in the next few years, according to the new guide for mining investments published Wednesday.

The guide, which was produced by Peru's Ministry of Energy and Mines (MEM) and Ernst & Young, showed that China will be the leading foreign investor in 2017-2018, with its companies planning to spend $10.189 billion, or 21.6 percent of the total.

Canada will come in second place with $8.755 billion, or 18.6 percent, and the US in third with $6.55 billion, or 12.8 percent.

Chinese investments include the expansion of the Marcona iron mine in the southern region of Ica at a cost of $1.5 billion, which is to be completed by December 2019. This will increase the mine's production to 3.5 million metric tons.

Jinzhao Mining is planning to invest $1.5 billion at Pampa de Pongo mine, to complete an environmental impact assessment and begin production by 2021.

Most Viewed in 24 Hours
BACK TO THE TOP
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US