Southern has US$ 10 billion to invest in the mining sector, says the sector minister.

The Minister of Energy and Mines, Rómulo Mucho, said that Tía María is already underway and will soon become a reality.

“Tía María is already on track and will become a reality. Work is being done on all fronts, work is being done on the dam, the company has decided to build a dam,” he said.

The head of the Ministry of Energy and Mines (Minem) indicated that the State as a whole has been called upon to benefit the Tambo Valley in sanitation, education and health, although there is a small group of ideologically motivated people without support.

He said that the benefits of Tía María have to do with economic injection, employment and technology. “There are 9,000 related jobs,” he added in an interview with the Regional Communication Network (RCR).

The minister estimated that the contributions only in royalties for Arequipa would be 350 million soles annually and 10% would go to Cocachacra, which currently has 3.5 million soles, which would improve the infrastructure and would also benefit other districts, such as Mollendo.

He said that we need these investment projects, we need to make approved projects viable. “Mining has brought about the fourth industrial revolution,” he said.

The Minister of Energy and Mines previously stated that the Tía María mining project will bring many benefits to the Tambo Valley, the Arequipa region, and the country in general, since from the beginning of its construction it will generate an average of 9,000 jobs, boosting the local economy and directly benefiting the population.

SOUTHERN HAS US$ 10 BILLION TO INVEST

He said that Southern has 10 billion dollars to invest in the mining sector, in Tía María, in a new smelter, in the expansion of Cuajone and Michiquillay.

The company has expressed interest in bringing forward the investment in this project, possibly for next year. “There are also the Chancas in Apurímac,” he added.

He also highlighted that the Toquepala and Cuajone mines in Peru have 40 more years of reserves.

"These regions are very competitive. Arequipa, Tacna and Moquegua are far from the levels of monetary poverty," he noted.