Peru Expects Mining Projects Worth $56 Billion in 2016

Mining is becoming a major source of income for Peru in 2016. Reports said that more than $56 billion worth of projects are expected to come to Peru starting next year, led mostly by Chinese, American and Canadian companies.

According to the Adina News Agency, so far, there are 47 ventures that are in their last stages of development, 24 of them dedicated to exploration and another six involving expansions of operating units. Environmental impact studies for 14 of the projects have now been completed, with three others still in the evaluation phase.

Among the main exploration projects are Galeno, La Granja, Michiquillay, Cañariaco, Haquira, Rio Blanco, Quechua, Los Chancas and Los Calatos. Exploration projects are also set for Cerro Verde, Toromocho, Marcona, Bayovar, Toquepala and El Porvenir.

According to Mining.com, China is currently the top investor in the mining industry, covering about $19.2 billion of different copper projects, including Pampa de Pongo in Arequipa, Galeno in Cajamarca, Don Javier in Arequipa, as well as Rio Blanco in Piura.

Chinese investors are also carrying out expansions for different projects, but so far, the largest of them is MMG's Las Bambas copper, zinc, silver, and gold mines, which are scheduled to begin production in the first quarter.

Following China, US-based companies are also investing in Peru's mining, putting in $10.13 billion, while Canadian firms are set to invest $8.35 billion.

Other countries include England with $4.3 billion, Mexico with $4.16 billion, Australia with $3.13 billion, Brazil with $2.22 billion and Japan with $490 million.

Despite the large number of mining projects from major companies investing in Peru, Latin Correspondent noted that Peruvian women activists are still struggling against the mining projects, and in doing so are experiencing bouts of PTSD.

Recent research carried by the Uniòn Latinoamericana de Mujeres and Latin America Mining Monitoring Programme, found that the changes introduced by mining projects in Peruvian communities, as well as the violence and impunity, has resulted in serious psychological effects on women. Women activists who are campaigning against the construction of the said mines on their territories are showing signs of paranoia, stress, anger, sadness and isolation, on top of their symptoms of clinical depression and PTSD.

But while the government is ready to receive funds from different countries to finance different mining projects, Latin Correspondent noted that on a policy level, the protection of women human rights is still non-existent.

International agreements and mechanisms are at this point more focused on the promotion of the said projects, rather than the protection of human rights. The role of women human rights defenders should therefore be considered, especially when implementing international policies.