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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