Peru mines minister sees investment up on high prices ...
Mining investment in Peru set to fall for a fourth straight year in 2017, but Mining Minister Cayetana Aljovin expects it to bounce back in 2018. Mining investment in Peru set to fall for a fourth straight year in 2017, but Mining Minister Cayetana Aljovin expects it to bounce back in 2018.
In addition, the price of gold increased dramatically in the 2000s, which increased gold mining; for example, one study found that conversion of forest in the Amazon increased six-fold from the period 2003–2006 (292 ha/yr) to the period 2006–2009 (1,915 ha/yr), largely due to artisanal mining.
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Iron ore Shougang Hierro Perú S.A.A. (a subsidiary of China's Shougang Corporation) continued to be Peru's sole iron ore producer in the Marcona District, in the Department of Ica. Mine output increased to 4.8 Mt of iron content in 2006 from 4.6 Mt in 2005.
The price for iron ore (a crucial indicator for this sector in Brazil), went from US$40/metric ton (62 percent grade) to almost US$90/metric ton, but it dropped to US$70 by late April 2017. A small improvement is expected in the following years, depending on the performance of the metallurgy industry worldwide, especially the steel industry.
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