(Minews) - Mining investment in Peru will exceed US$ 10 billion this year, while the nation’s mine output is set to grow 10 percent, as mineral prices still remain attractive, Peruvian Deputy Mine Minister, Guillermo Shinno, has said.
Shinno stressed the projected investment amount is expected to be maintained fueled by the starting of new projects, those in construction phase and the ones scheduled to start in next years.
“It is expected an increase in the mining industry output as mineral prices are likely to remain high despite the international price of commodities is trending down,” he said.
Moreover, Shinno noted that it is foreseeable the Peruvian economy will show a strong performance this year thanks to a greater dynamism in the mining sector resulting in a heavier contribution to the country’s Gross Domestic Product (GDP).
“This is not just argued by the Energy and Mines Ministry (MEM), but other reports and studies confirm the country’s development regarding its economic sphere,” the top government official said.
The government statistics agency INEI has announced the country’s economy soared by 5.3 percent in 2013, higher than the projected 6.2-percent forecast by the Central Reserve Bank (BCR).
The implementation of a program which came in 2007 through which the mining sector plays a key role in the country’s economic activity, thus increaseing its share in GDP by currently representing over 14.4 percent.
