Mining investments on the rise in Peru
The Peruvian Ministry of Energy and Mines (Minem) issued its latest Mining Statistical Bulletin which shows that accumulated mining investments rose by 3.2% through November 2022 to $4.6 billion compared to the $4.4 billion accrued the year before.
November came out as the highest-performing month last year, with a total of $467 million - a 7.8% increase from the previous month.
The bulletin shows that Anglo American was the top investor in 2022, with a total of $964 million invested by the London-based company. Anglo American's share in all mining investments was 20.9%.
Next was Minera Antamina, investing $394 million last year and was followed by Newmont's Minera Yanacocha, with investments at $332 million, who, finally, was followed by Southern Peru, who invested $238 million.
Altogether, the four companies were responsible for 42.7% of the mining investments in Peru in 2022.
Increased investments
The report highlights exploration activities and the increased investment into this sector, which received a total of $383 million between January and November 2022 - this is a 33.9% increase compared to 2022.
Peru is the world’s second-largest copper producer after Chile.