Home » Business » Minister Rómulo Mucho points out that mining investment in January and February was around US$ 650 million

Minister Rómulo Mucho points out that mining investment in January and February was around US$ 650 million

The head of MINEM, Rómulo Mucho Mamani, stated that mining generated resources for municipalities and the region amounting to more than S/ 2,351 million, through canon, mining royalties and other concepts.

In an interview given to the RPP Noticias program “It’s never too late,” the Minister of Energy and Mines, Rómulo Mucho, announced that mining investment during the months of January and February was around US$650 million, which represented a growth of 22.4 %, compared to the same period in 2023.

“Peru continues to be attractive for mining investment. Our goal, this year, is to far exceed the 2023 investment, which was US$4.5 billion. “We are talking about exceeding US$5 billion.”

Likewise, it confirmed the recovery of the main indicators such as production, exports and tax revenues due to increased mining activity.

He also detailed that copper production increased by 14%, while gold production was 29%; silver, 17%; lead, 28.5% and molybdenum, 59%.

“The significant growth in mining production in the last month, as well as the increase in investment in projects in the sector that will increase job creation in the country,” he stated.

Furthermore, he maintained that this increase is due to the fact that, through Ministerial Resolution No. 125-2024-Minem, mining companies were authorized to produce 10% more, improving processes and capacities.

“The challenge is that at the end of the year we had to exceed 3 million tons of copper and we are on the path to achieving it,” he added.

In relation to employment, mining has generated, as of February, 227,032 direct jobs, 6.2% more than the previous month.

Mining exports also registered significant growth. At the beginning of the year, they added operations for US$ 3,104 million, which represents an expansion of 14.7%, compared to January 2023.

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– 2024-04-23 16:46:53

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