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Peru Mining Companies' Investments Up 60.6% In Jan To Feb

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04/25/2012 | 07:22pm CET

Mining companies in Peru, a major global producer of base and precious metals, increased investments by 60.6% in the first two months of this year to $1.05 billion, the government said.

The Mines and Energy Ministry said in an emailed statement on Wednesday that Minera Yanacocha SRL invested $177.6 million in January and February, which is a 214% increase from the year-ago period.

Yanacocha, which is majority-owned by Newmont Mining Corp. (>> Newmont Mining Corporation), operates South America's biggest gold mine, located in Peru's Cajamarca region. Also in Cajamarca, Yanacocha has the stalled $4.8 billion Minas Conga copper and gold project, the country's biggest private-sector investment project.

The ministry also said that Xstrata PLC (>> Xstrata PLC) invested $140 million in its Las Bambas copper project and $67 million in its Tintaya copper project.

In 2011, mining companies in Peru invested $7.2 billion, up 77% from the prior year.

Peru is the world's second biggest producer of copper and silver and a major producer of gold, zinc, lead and other minerals. Mining companies plan to invest more than $50 billion in new mines and expansion projects this decade, according to the ministry.

-By Ryan Dube, Dow Jones Newswires; 51-945 043 802; peru@dowjones.com

Stocks mentioned in the article : Newmont Mining Corporation, Xstrata PLC
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EBIT 2017 1 509 M
Net income 2017 651 M
Debt 2017 874 M
Yield 2017 0,55%
P/E ratio 2017 29,40
P/E ratio 2018 25,89
EV / Sales 2017 2,89x
EV / Sales 2018 2,77x
Capitalization 19 871 M
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