Mining investment to hit US$37 bn over next five years

The Peruvian Government projects mining investment to reach US$37 billion in the next five years, including exploration, exploitation and infrastructure, Deputy Mines Minister Ricardo Labo informed.

"This also includes equipment and social investment," he added.

Mining ventures identified stand at around US$46 billion, US$14 billion of which will begin execution over the next two years, the government official explained. 

Labo went on to highlight the Inca nation's mining investment attractiveness, as revealed by Fraser Institute's latest Annual Survey of Mining Companies.

According to the Canadian institution, Peru climbed to the 28th spot among a total of 104 countries and provinces worldwide. 

The Andean country thus "surpassed Chile (39th) this year as the most attractive jurisdiction in Latin America," the report reads. 

In terms of LatAm top mining investment destinations, the South American nation is also followed by the Argentinian province of Salta, Guyana and Mexico.

The mining authority also underlined Peru's significant advance in geological potential, moving up from the 25th to the 17th spot.