Colca, Peru. Photo by Pedro Szekely

A fall in mining investment since 2013 has hit the Chilean economy, and although the country still attracts a fifth of global copper exploration expenditure, Peru has become the most attractive destination for investment in the region.

The Fraser Institute prepares a ranking of 104 jurisdictions, and Peru managed to climb eight positions from 36 to 28, relegating Chile to position 39.


Peru expects to develop 45 mining projects by 2021, valued at US$46.4B. The portfolio in 2015 included 53 projects that exceeded US$64B.

This project portfolio has been updated by the Ministry of Energy and Mines in Peru, who report that over 60% of this investment is in copper projects (US$28.2B) and a large proportion of this capital will come from Chinese (US$10.4B) and Canadian (US$9.7B) companies. Over half the portfolio includes projects at the exploration phase (US$24.5B), while 14 projects valued at US$16B are under construction and could come into operation before 2020.

Chile expects 37 new projects valued at US$49.2B over the next decade. This is a fall of 36% in comparison to 2015, since cuts in capital expenditure as a result of falling metal prices have led to current projects being restructured.


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