Hans Flury, President of Peru’s National Mining, Petroleum and Energy Society (SNMPE), says $47,600 million will be invested in the mining and energy sector in 2010-2020. This capital “will enable us to reach the end of this decade with higher production levels in this sector.” He indicated that the portfolio of mining projects at national level would reach $35.9 billion in investment for the next ten years.

Investment in the expansion of several projects is estimated at $4.380 billion; plus, confirmed investments amount to $3.2 billion, while projects in the feasibility and prefeasibility stages are looking at $28.3 billion approximately. He also pointed out that as a result of this enormous investment the country will be able to increase its copper production by 253%, its zinc by 19% and gold by 20% in 2010 – 2020.

The largest investment in the mining sector will be aimed at the copper sector, with Las Bambas and Los Chancas (Apurímac), Tía María (Arequipa), Antapaccay (Cusco), Michiquillay and La Granja (Cajamarca) and Toromocho (Junín) projects topping the charts, among others.

Investment in the electricity power sector for that same period will amount to $3.4 billion, which will raise electricity installed capacity by 50%. This investment will make possible many electricity projects, distribution and power transmission projects throughout the country.

“These projects refer to expansion of capacity and construction of new power plants, whether thermal or hydraulic, to satisfy growing demand,” said the SNMPE President prior to the inauguration of the VI Congress Waaime in Mining and Energy in Ica.