LIMA, Aug 7 (NNN-ANDINA) — From January to date, the Ministry of Economy-Finance’s (MEF) Specialized Investment Monitoring Team (EESI), in coordination with the competent government entities, managed to boost the assessment of various permits necessary for the development of mining projects.
These are initiatives whose administrative procedures were under evaluation for years and have concluded with the respective technical-legal approvals, unlocking their progress.
This is the case of Zafranal mining project (total investment of US$1.473 billion), which obtained approval for the detailed Environmental Impact Study (EIA-d) and the confirmation of its surface rights that will allow its construction stage to begin.
Another viable project is Toromocho Phase II (total investment of US$169 million), which obtained approval for the beneficiation concession modification required for construction of the second phase, which will lead to expanding the production of 141,000 tons of copper to 170,000 tons.
The Optimización Inmaculada mining project (total investment of US$1.319 billion) also received EIA-d approval, which will extend the useful life of the Inmaculada Mine for 20 years and generate 750 new jobs.
Additionally, the approval of environmental management instruments and authorizations for mining projects was promoted.
They include Profundización (Deepening) Retamas, Yumpag, Pucamarca Mining Unit, Las Bambas Mining Unit, Yanacocha Mining Unit, among others, which will lead to greater investments, mainly in sustainment.
The relaunch of the new EESI strategy and the articulated effort of the competent entities have led to making the aforementioned mining projects viable and regaining the confidence of large companies, thus guaranteeing an adequate investment climate subject to legality, predictability, and legal certainty.
According to the MEF, companies in the sector announced new investments or ratified expectations worth over US$10.5 billion. These are: La Granja (US$5 billion), Antamina Extension (US$2 billion), Coroccohuayco Integration (US$1.5 billion), Zafranal (US$1.473 billion), Falchani (US$587 million), among others. — NNN-ANDINA
