Peru: Mining investments totaled US$2.119 billion in 1H 2024

At the regional level, Moquegua remained in first place during the first half of 2024, raising an amount above US$355 million.

The Ministry of Energy and Mines (Minem) reported that mining investments totaled US$2.119 billion from January to June 2024, a 10% growth compared to the US$1.928 billion registered in the same period of 2023, according to the sixth edition of the Mining Statistical Bulletin (BEM).

At the level of mining companies, those with the highest investment are Antamina Mining Company, accounting for 11.3%; followed by Anglo American-Quellaveco (9.9%); Cerro Verde Mining Society (7.4%); and Las Bambas Mining Company (7.1%) of the total.

It is important to highlight that these four aforementioned companies jointly accounted for 35.7% of the total investment executed at the national level.

Based on a detailed analysis, the accumulated investment in the Exploration sector up to the sixth month of 2024 amounted to US$242 million. It represented a positive variation of 24.8% compared to the same period in 2023 (US$194 million).

Investment in the Others category (dam construction, resettlement, intangibles, land purchase, etc.) totaled US$247 million in the period from January to June 2024. This represented a 72.8% growth compared to the previous year (US$143 million).

At the regional level, Moquegua remained in first place during the first half of 2024, raising an amount above US$355 million. It accounted for 16.8% of the total, driven by the construction of the San Gabriel project and the Quellaveco Mine Administrative Economic Unit.

Ancash was ranked second (above US$269 million), accounting for 12.7% of the total, driven by the Antamina Mining Company in its "Yanacancha 1" and "Yanacancha 3" units.

Arequipa held the first position (US$225 million), accounting for 10.6%, driven by Cerro Verde Mining Society.