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Production startup of mining projects to support public spending in Peru

Andina (Peru)

September 15,2015

Lima, Sep. 04. Production startup of several mining projects such as Las Bambas, considered to be the second largest project in mining history, will support public spending proposed by the Government through the 2016 General Budget of the Republic, Peru's Ministry of Economy and Finance (MEF) reported.
Speaking at the Congress' Economy Commission, MEF's head Alonso Segura said mining shows an upward production trend thanks to the expansion of Cerro Verde, Antamina, Toromocho, Constancia, Las Bambas, which currently undergo a production startup.
"We have projects that have begun producing, which are going to underpin this boost in the short-term," he noted.
"There is also the State infrastructure projects that are reaching the construction stage this year (many of them) and that will reach a critical mass in 2016 (almost all of them), a constructive phase which generates sustainability to the National Government investment spending," Segura continued.
Investment Spending
He went on to add that investment spending recovery of local and regional governments is quite crucial.
"All these factors will contribute to maintaining a sustainable public spending and increasing it next year thanks to investment, particularly in the short-term," he indicated.
He also informed the Congress of the Republic is working to award environmental licenses more rapidly.