📋 Tender Overview
Las Bambas, Toromocho and La Granja generated US$ 6,924 million, US$ 2,330 million and US$ 642 million, respectively. Contributing to the countrys economic development. In the last 22 years, the Private Investment Promotion Agency - PROINVERSION awarded 17 mining projects through the Projects in Assets (PA) modality through transfer, concession, usufruct and share sale contracts.
Of these, the initial investment committed in 12 of the 17 projects was US$ 5,689 million, but after the execution of contracts and the development of different phases (exploration, construction and production) it reached US$ 10,116 million, according to the second Quarterly Report 2024 on Compliance with Investment Commitments, Collection and Other Obligations, prepared by Activos Mineros (AMSAC).
Among the awarded mining projects, Las Bambas stands out, with a cumulative investment of US$ 6,924 million by the second quarter of 2024, followed by Toromocho (US$ 2,330 million) and La Granja (642 million). The same goes for the Michiquillay mining project, awarded to Southern Peru in 2018, with an investment executed in exploration of US$ 27 million, but according to the Ministry of Energy and Mines (MINEM), its projected investment (CAPEX) amounts to US$ 2,500 million.
Another awarded project was Bayovar Salmuera, as well as Magistral and Alto Chicama. The company Fosfatos del Pacifico del Peru S.A. (FOSPAC) and Activos Mineros S.A.C. (AMSAC) signed an addendum to the contract for the transfer of mining concession No. 9 of Bayovar, to develop the exploitation of phosphate rock with an investment of US$ 940 million.
Investments in mining projects awarded by PROINVERSION, on behalf of the Ministry of Energy and Mines, have been dynamizing the countrys economy, especially in remote areas, generating direct and indirect employment, improving income and development opportunities for families.
In addition, the contracts include the creation of a social fund whose resources are allowing the financing of programs to assist the population, especially those who are in situations of poverty and extreme poverty. They have also been financing infrastructure and basic services projects, and projects for the generation of productive employment.
Finally, the agency has in its portfolio the promotion of the El Algarrobo mining project, located in Tambogrande - Piura, which contemplates a total amount of US$ 2,753 million (investment of US$ 759 million and operating expenses of US$ 1,994 million in the first 10 years).
This project, recently declared of interest, will prioritize social management with the community linked to the project and the implementation of a water project. It also considers the creation of a social fund that will manage the contributions derived from the contractual commitments assumed by the investor and will be destined to the execution of social programs for the benefit of the communities in the area of influence.
With El Algarrobo, the income of local and regional governments, from fees and royalties, will increase, allowing the development of more and better projects, especially of a social nature, with special emphasis on the area of direct influence.
