Economy: Three mining projects will start operations in less than a year

Before July 28, 2021, three will start their operations, informed the head of the Ministry of Energy and Mines (Minem), .

“What we will do is to continue promoting projects that already have social acceptance and those that do not have it, we will calmly go and listen to the actors to begin to build that social acceptance,” the minister said to the Regional Communication Network .

The head of the Minem specified that the three projects are San Gabriel, Yanacocha Sulfuros and Corani. The first to be mentioned, whose main product is gold, is in Moquegua and has an approximate investment of US $ 431 million.

The second, which is in CajamarcaIt is copper and its disbursement amounts to US $ 2,100 million. By last, Corani commits US $ 585 millionIt is made of silver and is located in the Puno region.

, told this newspaper that the execution of other mining works such as Quellaveco and Mina Justa.

The five mentioned, plus the expansion of Toromocho, could mean an investment of more than US $ 10 billion.

However, he specified that there are obstacles that do not allow the development of the works such as socio-environmental issues, political risk and the legal stability.

“Between large, medium and small permits, there are like 100 that you have to request. There is not a single project in Peru that has not had an obstacle, “he said.


On the other hand, ComexPeru revealed that, so far this year, the municipalities have only accrued 26.3% of their budgets for .

Regional governments are not far from these low figures and, according to the union, they only allocated 27.3% of the money they have.

In addition, it revealed that, in the last three years, “Subnational governments have not managed to achieve 70% of budget execution for these concepts”.

For Diego Macera, manager of the Peruvian Institute of Economics (IPE), in the case of canon and sobrecanon, the problem many times is that the amounts go to districts or provinces with little capacity for effective spending.

“Low spending capacity is an endemic issue of the , and they are several problems at the same time. One issue is that we have dispersed the budget too much into thousands of executing units and many of them do not have the capacity to put together projects, ”he declared.

Added to this, he explained, that between March and June there were many problems to advance in public investment of all kinds due to the health crisis that the country is experiencing.

Keep in mind

-According to Anthony Laub, 46% of the portfolio of mining projects is still in the incipient stage.

-Also, he specified that between 2012 and 2019 almost US $ 49,000 million have been invested in the sector.

-On the other hand, it projected that investment in mining would fall this year around 29%.


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