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In early January Antamina announced an investment of 1,288 million dollars to expand its mining facilities and processing capacity in mineral mining site located in the San Marcos district, province of Huari (Ancash).

“It has been estimated that this increased investment will drive growth of the company’s production by 38 percent, and they have also generate higher transfers for income taxes totaling $ 1.900 each additional” she said.

He said that the taxes paid by Compania Minera Antamina bordering the Treasury $ 500 million a year.

The company noted that in 2008 it announced a 77 percent increase in its reserves of mineral deposits in the reservoir.

The new mineral reserves were incorporated into a feasibility study completed in 2009, the same as possible to evaluate the options for expanding the company announced today.

The expansion of reserves include increases in mineral processing capacity, the same will rise 38 percent to 130 thousand metric tons (MT) daily, increase reserves by 77 percent processed to 1.100 million tons and extend the life span of the mine until 2029.

He indicated that this project will create many jobs directly and indirectly at the national and only in the construction phase (2010 – 2011) will generate 1.450 direct jobs.

The expansion will also generate approximately 1,700 additional jobs on average (direct contractors) with respect to the scenario without enlargement (period 2009 – 2029), and also guarantee employment for six years (2024-2029).

Also, the current operations of Antamina have brought positive impacts in the areas of influence, through fee and royalties to municipalities and the regional government of Ancash 3.317 million soles in the period 2001 to 2009.

Mining operations have also generated $ 164 million for the Antamina Mining Fund (WWF) between 2007 and 2009.

Apurimac and Cusco will become the next mining boom in Peru due to multiple exploration and development projects that are in these regions. “We have no doubt that the south central region is the new mining area in the coming years and will also be an example of successful investment,” said the president of the SNMPE, Hans Flury.

He argued that only in these three regions are currently about 17 mineral exploration projects and the work of most of them are having great success. In Apurimac projects include Bambas, where Xstrata Copper will invest 1,500 million dollars with the project’s Chancas of Southern Peru.

In Ayacucho gold projects will be developed as the Catalina Huanca. While in Cusco, Xstrata will also invest 700 million dollars in the project Capacitance. Other important projects are in Cusco Peru Norsemont Constancia (846 million investment), and the Quechua Quechua Mining Company, among others.

“Only in Las Bambas, Los Chancas, Apurimac Ferro and other mining projects in the central region investments exceed 7.000 million only taking into account the geological and geographic reference,” he said.

In that respect, he called on the government to improve infrastructure in the area, especially on roads such as roads and rail lines.

“We have adequate infrastructure to achieve when the mineral exploration and production begins, and so the area is also attractive,” he said.

Flury also estimated that over the next three years, investments in infrastructure of ports, railways and roads linked to mining and energy sector could rise to 600 million dollars.

“I hope that in years to consolidate the project Bovary Minerals also ports (Callao), Marcona (Ica), plus gas port oil company Hunt Oil” he said.

Choose municipal authorities, congressmen and president in Peru would not affect investment in mineral exploration that are already agreed for the coming years, the report concludes Evolution of Investment in Mineral Exploration: Peru and Latin America 2002-2010, developed by the School of Management and Economics (Gerens).

“In the 2006 election was a sharp drop in this indicator because it presented a political arena where there were issues that created concern among investors,” said President Gerens, Armando Gallegos.

He explained that the current scenario is not the same as employers are confident that the new government will continue to set the country on the path of growth that currently carries.

“The potential problem is the social side, ie the areas affected by mining projects. This is where you have to work hard to reach agreements that benefit everyone, “he said.

He said that the main weaknesses that the country has to continue to attract more investment, and where it should be stressed, are the labor standards, social-political variables, as well as the lack of human talent in mining.

“For example, a key issue that investors are already feeling great concern is that there may not be sufficient for knowledge professionals mining projects that will begin to run in the next five years,” he said.

While this represents an opportunity for many young people just beginning their college education, could also encourage companies to bring in outside professionals to meet the market demand.

“Contrary to this scenario, Peru has advanced significantly in areas such as infrastructure and uncertainty about the Protected Natural Areas (ANP), which gives some confidence to investors,” said Gallegos.