Minem gold project portfolio sleeps the dream of the righteous

Last week, the price of gold reached a new maximum to exceed US $ 2,800 an ounce. In the last 12 months the value of the precious metal has shot in more than 39% and mostly these prices are being used by the informal miningthat predates, generates human trafficking, does not pay labor rights, and less profits; Needless to pay taxes. However, there are several formal projects waiting.

Ministry of Economy and Finance has a pending agenda.

According to the Ministry of Energy and Mines (Minem), Peru has a portfolio of five gold projects as the main metal for a total of US $ 6,842 million, which this government can promote.

One of those projects is San Gabriel, a company of Minas Buenaventura, which is located in Moquegua and whose investment amount amounts to US $ 470 million. The president of the company’s board, Roque Benavides, told the Institute of Mining Engineers of Peru (IIMP) that this mine will begin operating between July and August of this year.

Another portfolio project is Immaculate Replacement, of Compañía Minera Ares, located in Ayacucho. Currently, it is in the execution stage and its approximate investment is US $ 1,319 million.

Another portfolio mine is so much so many, by Compañía Minera Coimolache S (Cajamarca) with US $ 127 million. There is also the Conga project, by Minera Yanacocha, with an investment of around US $ 4.8 billion. The latter has almost 15 years paralyzed.

Finally, the list includes Ollachea, from Minera Kuri Kullu, in Puno. Currently, it is in the prefeasibility stage and the estimated investment is US $ 126 million.

The price of gold reached a new maximum at the end of January.

Less obstacles

For these projects to move forward, there is a pending job that must be done from the Executive. The former president of the National Mining, Petroleum and Energy Society (SNMPE), Carlos Gálvez, said that it is necessary that the processes and permits be expedited so that the mines begin to produce. “What are needed are concrete actions,” he said.

Minister José Arista a few days before his resignation came to the four winds to say that his portfolio will implement a “deregulation shock.” The new Minister of Economy, José Salardi, will leave a mark with this task that inherited edge?

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