Today: January 17, 2025
January 17, 2025
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Why did mining investment fall 17% in November?

Why did mining investment fall 17% in November?

In November 2024, the investment mining totaled US$424 million, which meant a drop of 17% when compared to the same month in 2023, as published in the bulletin of the Ministry of Energy and Mines (Minem).

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During the penultimate month of the year, a decline was observed in disbursement in development and preparation (-35.5%), beneficiation plant (-24%), mining equipment (-15.7%) and infrastructure (-8.8%). An increase was only observed in exploration (9.2%).

The former president of the National Society of Mining, Petroleum and Energy (SNMPE), Carlos Gálvez, told Peru21 that weather problems influence the development of some investments.

Likewise, he stated that it is important to generate trust in a way that promotes long-term private investment in the sector. As he explained, this trust is generated, among other things, with greater political stability.

COMPANIES AND REGIONS

The data reveal that, with the November result, the accumulated investment in 2024 amounted to US$4,180 million, that is, a drop of 0.4% when compared to the result obtained in the same period of 2023.

As of November 2024, the companies that reported the highest investment were Compañía Minera Antamina, Las Bambas, Sociedad Minera Cerro Verde SAA and Anglo American Quellaveco.

By region, Moquegua remained in first place with a share of 14.2% of total investments. Meanwhile, Áncash maintained second place with 13.8% and Arequipa third position with 11.2%.

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