According to the BNAmericas website, Peru’s Minister of Energy and Mines Jaime Gálvez (Jaime Gálvez) recently participated in a web conference organized by the Annual Conference of Prospectors and Developers of Canada (PDAC). 506 million U.S. dollars, including 300 million U.S. dollars in 2021.
　　 Exploration investment will be distributed in 60 projects in 16 regions.
　　 From the perspective of minerals, the investment in gold exploration is estimated to be US$178 million, accounting for 35%. Copper is 155 million US dollars, accounting for 31%. Silver is US$101 million, accounting for 20%, and the remainder is zinc, tin and lead.
　　From a regional perspective, the Arequipa Region has the most investment, mainly copper projects.
　　 The remaining US$134 million will come from supplementary survey work on projects under construction.
　　 Peru’s exploration investment in 2020 is 222 million U.S. dollars, a decrease of 37.6% from the 356 million U.S. dollars in 2019. The main reason is the impact of the epidemic.
　　Development investment
　　 Galvez predicts that Peru’s mining industry investment in 2021 will be approximately US$5.2 billion, an increase of 21% over the previous year. It will reach 6 billion US dollars in 2022.
　　 The main investment projects in 2021 are the Quellaveco copper mine project, the second phase expansion project of Toromocho, and the Capitel expansion project.
Other major construction projects include Corani, Yanacocha sulfide projects, Inmaculada upgrade project, Chalcobamba Phase I development project, and Kang The Constancia and Saint Gabriel projects.
　　 The Magistral project and the Rio Seco copper plant project will start in 2022, with a total investment of US$840 million.
　　 Copper production
　　 Galvez predicts that Peru’s copper output is expected to reach 2.5 million tons in 2021, an increase of 16.3% from the 2.15 million tons in 2020.
　　 The main increase in copper production will come from the Mina Justa copper mine, which is expected to start production in April or May.
　　 2023-25, Peru’s copper output is expected to be 3 million tons/year.
　　Peru is the second largest copper producer in the world. Its mining production accounts for 10% of GDP, 60% of total exports, and 16% of private investment.