Peru 2016 GDP to increase thanks to Las Bambas project
Thanks to the entry into operation of Apurimac region-based Las Bambas mining project, Peru’s Gross Domestic Product (GDP) will experience notorious growth in 2016, Prime Minister Pedro Cateriano projected.
“This will be important for Peruvian economy. It will be better compared to the previous year because Las Bambas is the most important mining project in the history of the republic, which has entailed an over US$10.00 billion investment […],” he indicated.
“Las Bambas project will contribute to a notorious GDP increase, as will Junin-based Toromocho mine expansion, which will require a nearly US$ 1.50 billion investment,” Cateriano expressed.
After underling the fact that Peru is a mining country and megaprojects bring economic prosperity, he hoped bureaucratic procedures —impeding Toromocho from expanding— will conclude soon.
Upcoming administrations are expected to assume the challenge of continuing to develop huge mining projects and concretizing others, he added.