Cajamarca, one of the regions with the broadest mining tradition and great potential for the development of our country, received from than S/4,4378 million in contributions from the mining industry during the past decade with the fiscal redistribution payment, the royalties and the validity rights.

This was stated by Henry Luna, Cadaster Director of the Geological, Mining and Metallurgical Institute (Ingemmet) within the framework of the decentralized event Rumbo a PERUMIN, Cajamarca edition, organized by the Peruvian Institute of Mining Engineers.

“Cajamarca has two key projects in this moment, Yanacocha Sulfides and Michiquillay, which should be operating in the next years”, he pointed out during his presentation.

Henry Luna also indicated that there are currently 28 projects that have not yet defined their construction startup date. These include important mining undertakings in Cajamarca, such as Conga (US$ 4,800 million) El Galeno (US$ 3,500 million) and La Granja (US$ 5,000 million).

“In the case of La Granja, this is a project of utmost importance. It would be relevant to try to talk to the representatives of Río Tinto, in order to set it in motion as soon as possible. He commented.

The gold production of Cajamarca has been decreasing over the past decade, to the point that, due to the lack of new operations and expansions, leadership was lost last year to La Libertad, which has mainly medium-scale underground mining companies.

Notwithstanding, the representative of Ingemmet keeps a hopeful vision of Cajamarca, together with Apurimac in southern Peru, as the future centers of national development due to their mining, energy, agricultural and touristic potential.

He also indicated that currently, the portfolio of mining exploration investment in Peru amounts to US$ 506 million and consists of 60 projects. He added that the mining and energy sector, despite occupying 1% of the national territory, generates 74% of the foreign currency from national exports.