Mexico’s proposed higher mining royalties could block nearly $7bn in investments
The Mexican government proposed raising mining royalties under the argument that metal prices have risen in recent years.
Mining investment in Peru, the world’s No. 2 copper and zinc producer, is expected to grow 9% this year when compared to 2016, marking the end of a three-year decline than began in 2014, a report from Scotiabank shows.
Originally, the bank had predicted investments in the sector to drop for a fourth straight year in 2017, but the country’s government has taken steps to simplify the current permitting process to attract $10 billion worth of new projects in 2018, or so it hopes.
The figure, Peru’s Mining Ministry (MEM) says, could be even higher as close to a dozen projects are expected to get the green light next year.
Here are some of the most important ones:
(Follow the arrows, or click directly on the markers that appear on the map to learn more)
2 Comments
Jones
I think that this post is misleading…Half of these projects won’t actually do anything in 2018 and aren’t “investments,” aside from the approved paperwork. Minera IRL can’t finance anything and Bear Creek is re-assessing the metallurgy at Corani, before ultimately trying to sell the mine (they aren’t mine builders).
C
The picture of “San Rafael” is a picture of a mine in Guatemala. With the wrong source attributed. There are several large mines currently being built in Peru not included in this list. The is seriously sloppy and inaccurate reporting, especially for the headline story.