- Write by:
-
Monday, August 22, 2022 - 12:49:44
-
586 Visit
-
Print
Mining News Pro - A recent report by the Peruvian Institute of Economy states that the country’s mining sector has seen a ‘concerning’ decrease in private investments.
According to the Institute, while the mining sector was responsible for 19% of total private investments in 2012, it now accounts only for 10%. This new baseline is similar to that of 2016, even though copper prices have doubled since then.
The report notes that civil unrest, particularly when it is spurred by difficult relationships between mining operators and the surrounding communities, is to blame for the dwindling initiatives led y private capital.
“Low mining investment is linked to the sustained loss of attractiveness the country has faced since 2018 and the increase in conflict seen in the last year,” the dossier, which was made public by local media, reads. “In Latin America and particularly among the region’s top mining economies, Peru is the country with the most conflicts and this indicator reduces companies’ interest to invest in the sector.”
Overall, private investment in Peru grew by 1% in 2022’s second quarter and the forecast is that it will go up only by 2.2% by the end of the year, lagging behind other mining countries such as Chile and Mexico.
A positive note
Despite the downward trend in private investments, the Ministry of Energy and Mines announced that between January and May 2022, metallic and non-metallic mining exports totalled $16.3 billion, a 6.8% increase over the same period in 2021.
According to the Mining Statistics Bulletin, the mining subsector was responsible for 59.8% of total exports thru May 2022.
Copper, gold, zinc, and iron ore topped the list of export products, accounting for 88.9% of the total value of mining exports.
Copper exports, in particular, reached $8.2 billion as of May, thus showing a 5.7% increase when compared to the same period in 2021.
The red metal is Peru’s main export product accounting for 30% of total shipments.
Short Link:
https://www.miningnews.ir/En/News/622023
Oxford Economics Australia has released data showing mine maintenance spending may be hitting its peak. But what does it ...
South African diversified miner Sibanye Stillwater is discussing with lenders to temporarily lift limits on borrowings, ...
Copper climbed above $10,000 a ton as predictions for tighter global supplies and rising consumption in electric ...
Canada’s mining industry is pushing for an carveout to the federal government’s proposed increase to capital gains ...
Copper output in Chile, the world’s largest producer of the metal, edged down in March, data from copper commission ...
Panama’s president-elect has ruled out talks with Canadian miner First Quantum Minerals until it drops multiple ...
Africa-focused Montage Gold announced Thursday it has received a ministerial order granting all environmental approvals ...
Botswana President Mokgweetsi Masisi vowed to protect the country’s interests, including its 15% stake in diamond giant ...
Europe’s largest copper producer Aurubis AG reported first-half core profit above expectations on Wednesday, helped by ...
No comments have been posted yet ...