Value of mining projects in the north reaches US$23,594 million in investment, almost US$7 billion more than in the south

Announcement by the Institute of Mining Engineers of Peru (IIMP)

This is an automated translation of the press release issued in Spanish

At the recent Heading to PERUMIN event titled "Opportunities for the Comprehensive Development of Cajamarca", Miguel Cardozo, former director of the Institute of Mining Engineers of Peru (IIMP) and president of Alturas Minerals, highlighted that northern Peru has a portfolio of projects valued at US$ 23,594 million, positioning itself as the region with the highest investment figure in the country. In comparison, the south of the country has US$ 17,096 million and the center US$ 2,951 million.

During his presentation, Cardozo detailed that only Cajamarca has US$ 16,298 million in projects, followed by Piura with US$ 2,792 million, Lambayeque with US$ 1,043 million, La Libertad with US$ 1,364 million and Áncash with US$ 2,097 million.

"The largest column represents the amount of investment that can be made in Cajamarca if we work well," commented the engineer.

Mining corridor

One project aimed at boosting investment in northern Peru is the proposal for a mining corridor that would cover 450 kilometers and connect six projects in Cajamarca. This corridor would have an exit to the future maritime terminal of Eten, in Lambayeque. The idea was presented by the regional governor of Lambayeque, Jorge Pérez Flores, during an exclusive interview on the IIMP Mining Diálogos program.

"There is a route in the north that we could develop without problems. We have the Michiquillay, Yanacocha, Galeno, Conga, Tantahuatay and La Granja projects. In total, this corridor would add approximately 200 kilometers. From Chota to the Eten maritime terminal there are 110 kilometers "If on that route we built a bimodal route, with paved parts and others with railway components, Cajamarca would have an efficient train not only for mining, but also for community transportation," Pérez Flores explained.

The governor also mentioned that this proposal, presented to the Government and members of Parliament, has the support of both branches of the State. The project is expected to be carried out through a Public-Private Partnership (PPP), an option that is being evaluated by the Minister of Transportation and Communications, Raúl Pérez Reyes.

"You go from a problem to a solution, creating a mining corridor with a social component. It is a 'win-win', since both Peru and Cajamarca benefit. In addition, with this project it will not be necessary to use the natural resources of the area of extraction, but will be transported to a place with less environmental impact," concluded the regional authority.