On Wednesday, Peruvian Finance Minister Alonso Segura told
the press that thanks to a record of strong investment in the country’s mining
industry, mining production would skyrocket through 2018. He said, “This
important growth will be generated by both production and investment. Despite
future investments, already-launched projects' production will be much stronger.”
Minister Segura went on to contrast this healthy growth in
the Peruvian mining industry with the state of the industry in other countries
around the world, where large mining projects have been closed one after another
due to the collapse in metal prices.
The Peruvian Central Bank (BCR) predicts
that copper production will grow by an amazing 75.2% between this year and
2017. The strong investments made in the mining industry by previous
governments are now finally starting to pay dividends.
Despite the rosy outlook for the Peruvian mining industry,
the country’s economy as a whole is expected
to grow only slightly in 2016, by just 2%. According to analysts, in addition
to the mining sector, the construction, retail, and public sectors will drive economic
growth. Analysts predict that business will hold off on making investments
during the first half of the year because of the Peruvian presidential
elections.
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