UK overtakes China as main investor in Peruvian mining | Economie
The United Kingdom is the main foreign investor in Peruvian mining with a contribution of US$11.584 million; According to the Portfolio of Mining Construction Projects 2021, prepared by the Directorate General of Mining Promotion and Sustainability (DGPSM) of the Ministry of Energy and Minerals (MINIM).
The European country tops the list with seven projects representing 21.8% of the total global investment of the portfolio ($53.168 million, in 43 projects). The most representative British company is Anglo American Plc. and Rio Tinto Plc., responsible for the Quellaveco (US$5.3 billion) and La Granja (US$5 billion) projects, respectively.
China ranks second with $10.775 million spread across seven projects in the portfolio, accounting for 20.3% of the total portfolio. Of note in this group are the Aluminum Corporation of China Overseas Holdings Limited and Junefield Mineral Resources Holding Limited, with the Toromocho Expansion (US$1,355 million) and the Don Javier Project (US$600 million) respectively. MMG Limited also stands out with the Chalcobamba Phase 1 project (US$130 million).
Canada ranks third, with a total of $8321 million, with a participation of 15.6% of the global amount. First Quantum Minerals Ltd. and Candente Copper Corp and Panoro Minerals Ltd. Major investors in that country, where it was responsible for the projects, are Haquira ($1,860 million), Cañariaco ($1,560 million) and Cotabambas (US$1,486 million) respectively. They are joined by Bear Creek Mining Corporation with Corani (US$579 million).
The United States concentrates investments of 7.05 billion US dollars, which is 13.3% of the global investment in the portfolio. Newmont Goldcorp Corp. with Conga Ventures (US$4.8 billion) and Yanacocha Sulfuros (US$2,250 million) is the lead investor in that country.
Mexican investments match with Grupo México SAB de CV, parent company of Southern Peru Copper Corporation, totaling $6.5 billion against Los Chancas (US$2.6 billion), Michiquillay (US$2.5 billion) and Tía María (US$2.5 billion) projects .1.4 billion dollars).
Australian Investments holds a 5.5% stake in the global investment of $2,900 million and a project in the portfolio of Strike Resources Limited. On the other hand, Brazilian investments amount to 3.8% of the total investment with a value of 2.035 million USD distributed over five projects.
Finally, investments from Japan, Switzerland, and South Korea represent 3.8% of the total investment and collectively add up to $1,997 million, with one project per country.
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