The Peruvian mining industry announced it’s investing $496.2mn to develop 63 mining projects.
Of that amount, 53.3pc is for copper exploration and extraction, the Peruvian Ministry of Energy and Mines (MINEM) said in its Mining Exploration Project Portfolio 2019.
The Peruvian mining industry will focus on 18 copper projects worth $265mn.
In Arequipa, located in the southern part of Peru, $83.4mn has been invested in Chapitos, $47mn in Zafranal, and $10mn in Amauta.
There are further investments of $45.5mn in Pampa Negra, $15mn in El Galeno, and $15mn in Suyawi, Tacna.
The report also revealed $27mn will be invested in the development of eight zinc projects; $90mn in 21 gold projects; and $76mn in 12 silver projects in the country.
The mining industry is one of the most important sectors of Peru’s economy, representing about 11pc of its GDP and 60pc of the country’s exports. Copper and gold are the most important metals exported by value.