NEW PROJECTS IN PERU TO ADD $3.6 BILLION OF MINING INVESTMENT FOR 2013

New mining projects in Peru will attract over $3.6 billion in investments this year, adding to the overall industry forecast of $10 billion, said Wednesday the president for the country’s National Society of Mining, Oil and Energy (SNMPE), Eva Arias.

The South American nation’s extractive sector, which accounts for some 60% of the economy, saw investments for $8.5 billion last year and is expected to bring $53 billion over the next decade, added Arias.

According to LPBnews (in Spanish), mining investment jumped 18% last year compared to 2011 despite large-scale protests against exploration and extraction activities that swept the country in 2012.

SNMPE warned in September last year that, as a result of non-stop anti-mining protests in different regions of the country, investors had started looking for greener pastures and so mining investment in the South American nation was expected to fall.

Although that didn’t happen, the body said Peru did fall to third place from second in the list of world’s top copper and silver producers.

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PERU`S MINING SECTOR TO GROW DOUBLE DIGITS FOR THE NEXT 3 YEARS, STARTING 2013

The country’s mining industry is expected to grow at double-digit rates, for the next few years, local newspaper named Gestion had reported.  According to Julio Velarde, head of the Central Reserve Bank (BCR), Peru will see an average annual growth of 11.2 percent in mining between 2013 and 2016.

"Unlike the previous seven years, we will now see that mining will have double-digit growth," he said, adding that the growth would be driven by about $64 billion in mining investments, over the next two years.

According to Gestion newspaper, the estimates far exceed the $50 billion investments that the Ministry of Energy and Mining had predicted for the next five years.

Copper production, Velarde said, would also grow over the next few years, giving the country considerable reserves for 2015.

The strong mining growth, he added, would in turn support the country’s economic growth. GDP over the next four years, Velarde said, is expected to grow by 6.5 percent annually.

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PERU TO SEE INCREASE IN SILVER PRODUCTION IN 2013

Peru’s production of silver is estimated to increase by 5 percent this year, driven by new mining projects, according to a recent report by Scotiabank branch in PERU.

The growth would represent a considerable increase from the 1.74 percent increase in silver mining last year.

Scotiabank said that the Milpo and El Brocal mining firms were currently in the midst of expanding their plants, which would lead to an increase in sliver production. The bank said the increased investments would lead to growth of 9 percent per year, between 2014 and 2016.

Last year the Buenaventura mining company saw 16 percent growth in their silver output, the daily said.

According to Scotiabank, the increase is also due to new mines such as Xstrata’s Las Bambas, Chinalco’s Toromocho, and Hudbay’s Constancia project.

"Volcan and Hochschild have new projects that are focused on increasing production" 

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Peru's mining investments seen rising 16% this 2013

Lima, Mar. 05 (ANDINA). Investments in Peru's mining sector is seen gaining 16% this year, following last year's 18% increase, worth $8.55 billion, Scotiabank said.

Mining investments last year came from 547 companies, although 53% were made by five companies in large mainly base metals projects: Toromocho, Las Bambas, Minas Conga, Antamina and Cerro Verde.
"During 2013, it is probable that a similar number of companies will make a similar number of investments in mining. However, about 50% of the investment will come from five mega-projects," the bank said.
Scotiabank says this year the main investments will be made by Xstrata PLC in its $5.2 billion Las Bambas copper deposit, and by Minera Chinalco Peru in its $3.5 billion Toromocho project. Minera Chinalco Peru is a subsidiary of Aluminum Corp. of China Ltd.In regards to Toromocho, Scotiabank said, "The company will start to produce copper in 2014, and as such the biggest part of the investment will be made in 2013."

Xstrata said Tuesday that it had spent $1.1 billion last year on Las Bambas, "which will commence commissioning at the end of 2014." It also said it had spent $600 million at the Antapaccay copper project in southern Peru, where production started in November last year.

According to Dow Jones Newswires, another large-scale investment is by Sociedad Minera Cerro Verde SAA as it continues work on its $4.4 billion mine expansion in southern Peru.

Canada's Hudbay Minerals, which forecasts full production in the second quarter of 2015 at its Constancia project, expects to spend about $961 million there in 2013.
Anglo American PLC is expected to submit its Quellaveco copper project to its board for approval this year.

Scotiabank said investments by Minera Yanacocha at its Minas Conga project will drop significantly this year due to the suspension of most work there. Antamina completed its expansion project last year, which helped the company boost its copper production by 33% in 2012 over the prior year.
Peru's Ministry of Energy and Mines is forecasting a rise of only 12% in mining sector investments this year.

Peru is the world's third largest producer of copper and produces large amounts of other base and precious metals.

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NEW PROJECTS IN PERU TO ADD $3.6 BILLION TO OVERALL MINING INVESTMENT FOR 2013

February, 2013 : New mining projects in Peru will attract over $3.6 billion in investments this year, adding to the overall industry forecast of $10 billion, said Wednesday the president for the country’s National Society of Mining, Oil and Energy (SNMPE), 

The South American nation’s extractive sector, which accounts for some 60% of the economy, saw investments for $8.5 billion last year and is expected to bring $53 billion over the next decade, added Arias.

According to LPBnews (in Spanish), mining investment jumped 18% last year compared to 2011 despite large-scale protests against exploration and extraction activities that swept the country in 2012.

SNMPE warned in September last year that, as a result of non-stop anti-mining protests in different regions of the country, investors had started looking for greener pastures and so mining investment in the South American nation was expected to fall.

Although that didn't happen, the body said Peru did fall to third place from second in the list of world’s top copper and silver producers.

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PERU`S INVESTMENT OPPORTUNITY - MINING COUNTRY

Peru: A mining country full of opportunities
Its geological wealth, availability of cadastral and geological quality, choice of first-tier suppliers and the legal framework for private investment promoter force in the country, to make Peru one of the most attractive destinations for mining investment in the world.

Peru: Mining Country
Peru is a country of old mining tradition, tradition maintained and grown thanks to the presence of leading international companies. We have an enormous geological potential, the presence of the Andes along the territory, is our main source of mineral resources.

Globally, Peru and Latin America is among the leading producers of various metals (gold, silver, copper, lead, zinc, iron, tin, molybdenum, tellurium, among others), which reflects not only the abundance of resources and production capacity of Peruvian mining, but the stability of economic policies in our country.

Minerals produced in Peru are in high demand in today's global market, whose development is based on production and industry. United States, China, Switzerland, Japan, Canada and the European Union are the lead plaintiffs.

Peru`s Economic and Reliable Fortress Investment Climate
Peru is one of the fastest growing economies in Latin America (7.6% in 2006, 9% in 2007, 9.84% in 2008, 1% in 2009, 8.8% in 2010 and 6.8% in 2011), which is complemented with macroeconomic soundness: low inflation, fiscal and trade surpluses and strong international reserves.

Peru`s International Recognition
In July 2008, ratings agency Standard and Poor's gave the "Investment Grade" to Peru. Previously, this reclassification was Fitch rating in April of that year and by the Canadian Agency DBRS Dominion Bond Rating Service in late 2007.

Peru has signed several bilateral agreements, including free trade agreements (FTA) with the United States, Canada, China, Singapore, South Korea and Mexico, and is currently negotiating FTAs ​​with Japan, Thailand and the European Union.

Peru also is a member of the Asia Pacific Economic Cooperation (APEC) and the Community of Andean Nations (CAN). Peru offers better economic opportunities for investors in these markets.

Peru`s Investment Opportunities
The opportunities offered by our country have made us one of the countries in the region which have the largest mining investment, with outstanding results and the presence of leading global mining. In 2011, Peru surpassed the record of investments in the mining sector to exceed U.S. $ 7,000 million, especially in the areas of exploration and mining infrastructure.

The investments planned for the coming years both in exploration, development and mining expansions exceed U.S. $ 53,000 million. The estimated portfolio of mining projects highlights these major investments in Cuzco, Cajamarca, Moquegua, Tacna, Ica, Lima, Arequipa, Junin, Piura, Ancash, Huancavelica and Lambayeque.


Peru`s Effective Investor Protection
Peru has signed 32 international investment agreements underpinning its policy of liberalization, with Pacific countries, Europe and Latin America. With a view to consolidate a stable investment climate and predictable, Peru has improved its standards in the negotiation of international investment agreements. Similarly, Peru has signed an agreement to facilitate operations OPIC, covering U.S. investments held in Peru.

Peru is also a member of MIGA and a signatory to the Convention Establishing the ICSID (International Centre for Settlement of Investment Disputes) and the New York Convention of the Recognition and Enforcement of Foreign Arbitral Awards.

Peru`s Highlights of the Mining Industry
Peru is the largest silver producer in the world, second largest producer of copper. It is also the largest producer of gold, zinc, tin, lead and molybdenum in Latin America. The Andes is the backbone of Peru and the main source of mineral deposits in the world.

Peru has an important geological potential. It is the third country in the world in reserves of gold, silver, copper and zinc (U.S. Geological Survey - USGS figures).

The number and area of ​​mineral exploration projects increases each year, which is why the Lima Stock Exchange (BVL) has created a segment of Risk Capital or Project Portfolio where about 12 listed and 39 junior mining companies of the great Peruvian mining.

In addition, inputs and services that the mining industry needs to have widespread availability in the local market, making Peru a privileged place for mining in South America.

Peru`s Potential Non-Metallic Resources
Peru also has great potential in non-metallic minerals also known as industrial minerals, such as travertine marble, silica gel (first producer in South America), bentonite and borates. In fact, Peru is among the few countries in the world where you can find these mineral deposits.

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INVESTOR KEEN IN PERU`S MINING AND INFRASTRUCTURE SECTORS THIS YEAR

Lima, Jan. 26 (ANDINA). Peruvian Minister of Economy and Finance Luis Miguel Castilla said Saturday that investors attending the World Economic Forum annual meeting in Davos, Switzerland, have shown great interest in the mining and infrastructure sectors of Peru.

Peruvian Minister of Economy and Finance Luis Miguel Castilla. Photo: ANDINA/Juan Carlos Chavez.

Minister Castilla said the Peruvian delegation's participation in the five-day event was a great success, after holding meetings with several business leaders.
"The main interest lies in the mining and infrastructure sectors, and within this framework we have presented draft Public Private Partnerships (PPPs) projects and the many reforms the country has put in place," he said.
Castilla added that "the Peruvian delegation also participated in an important meeting with finance ministers and presidents of various central banks from around the world, in which they discussed the international situation in countries like Peru."
"We see a light at the end of the tunnel, but there is still a complex situation especially in Europe," he noted.
Castilla said that, in this context, he also held a meeting with former British Prime Minister Tony Blair, who will support the country on two key issues.
"The first is to enhance the quality of the workforce with improved technical education and the second is related to the services sector under the PPPs, because the UK has had a very important role on this matter," Minister Castilla said.(PERU`S MINISTER OF DEVELOPMENT ECONOMY & FINANCE)

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