US$1.6bn Mina Justa startup to boost Peru's mining sector
Peru's mining sector is shaping up for a very dynamic 2020, considering the start-up of the US$1.6bn Mina Justa copper project and construction to begin at six more gold, copper, silver and zinc projects.
Mina Justa is a 60/40 joint venture formed by Alxar, a subsidiary of Chilean holding company Copec, and Peru's Minsur. The mine is in southern Ica region and is the second largest development project in Peru.
It currently employs over 3,000 people and would generate 1,000 jobs when it enters commercial operation, with a projected mine life of 16 years.
According to the energy and mines ministry (Minem), works will also begin for the US$136mn Immaculada optimization, in Ayacucho region; the US$590mn Coroccohuayco integration (Cusco region); the US$117mn Pachapaqui expansion (Áncash); and the US$579mn Corani project in Puno.
Works will also start at San Gabriel, Moquegua region, with investment demand of US$431mn, and at Yanacocha Sulfuros in Cajamarca for US$2.1bn.
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