6 Jan 2020

Projects – Weekly snapshot

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From Thursday, December 26, 2019 to Monday, January 06, 2020




San Gabriel, Corani and Yanacocha Sulfuros begin development this year


The development of the mining activity this year will be driven through at least seven mining projects, which together add up to an investment of around US$ 6,153 million. Among the brownfield projects (expansion and replacement) to start this 2020 is the Corani (Puno) unit, a silver mine run by Canada’s Bear Creek Mining. Recently it was indicated that the investment is estimated at US$ 579 million. Another unit that would begin to be built this year is Yanacocha Sulfuros, in charge of Minera Yanacocha, a unit that plans an investment of US $ 2,100 million. The project is in the feasibility stage, and it seeks to optimize its tailings storage system.


Likewise, it is expected that this year the construction of the San Gabriel gold project in Moquegua, under Minas Buenaventura, which has an investment of US$ 431 million, would begin. The Jinzhao Mining company plans to invest some US$ 2,200 million to start its construction in the Pampa del Pongo iron project.


Among other projects to be built this year is the optimization of the Immaculate gold unit (Ayacucho), of Minera Ares, which has an investment of US$ 136 million.


Another initiative under construction is the expansion of the Pachapaqui zinc mine run by ICM Pachapaqui, for US$ 117 million. The initiative is in charge of Korea Zinc Company and is located in Áncash (Diario Gestion).


  • Kallpa Generación closed a seven-year loan for $ 330 million from Scotiabank and SMBC to refinance debt, according to a source close to the agreement, LatinFinance reported. Samay I, a division of Kallpa, will use the proceeds to pay a similar amount that it obtained from HSBC, MUFG and SMBC in 2015 to finance the construction of the Puerto Bravo thermoelectric plant (Diario Gestion).
  • The Repsol company said it has started the production and sale of low sulfide fuels regulated under the minimum sulfur content standard (IMO2020) since its La Pampilla refinery (Diario Gestion).
  • The Chancay megaport project on the north coast of Lima, which will demand a total investment of US$ 3,000 million, will support its investments in its first five years of operation, in the care of the region’s port cargo, that is, operating as a hub port for Central and South America, as reported by Cosco Shipping, the Chinese company in charge of the project, to Sunat (Diario Gestion).
  • The Energy Group conglomerate said that by the beginning of this year the drilling of confirmatory wells in the XXIII hydrocarbon lot, located on the coast of Tumbes, would begin (Diario Gestion).
  • Teck Peru submitted a technical support report to the Ministry of Energy and Mines for the development of a Kello Kello mining exploration project in Puno. 27 drilling is planned, relocating 12 drilling rigs, increasing drilling, modifying and reducing the path of approved accesses, as well as reducing the total area of ​​mining activity (Diario Gestion).
  • FA Hardware Stores and Finishes, part of the Decor Center Group, dedicated to the marketing of valves, water pipes, air conditioning, gas and others, chose to enter new lines in order to cope with a lower demand for products by the self-construction and Real estate companies. Thus, he added to his portfolio the line of specialization, with which they serve markets such as the hotel (Diario Gestion).
  • In order to have funds for exploration and development activities in the AntaKori gold and copper prospect in Cajamarca, the Canadian junior company Regulus Resources announced the closure of a financing of 11.5 million Canadian dollars, which includes the issuance of common shares and warrants; as well as other units sold by Route One Investment Co, LP, the largest shareholder of Regulus (Diario Gestion).
  • The oil company Ricoil S.A. received compliance with the technical support report submitted to the Ministry of Energy and Mines to make a 2D seismic survey in the XXIX lot, which includes a length of 22.28 kilometers of additional lines (Diario Gestion).
  • The Dutch bank Rabobank and the Agricultural Company San Juan closed last Friday a medium-term loan contract for US $ 14 million. The agricultural company is dedicated to planting, growing, harvesting, marketing and export of table grapes, avocado and sugar cane (Diario Gestion).
  • The exploration company Questdor SAC plans to carry out mining exploration activity in the Cerro de Fierro project, located in the Arequipa district, where some 60 drillings are planned in addition to placing auxiliary components such as accesses and camps. An investment of US$ 995,000 is expected (Diario Gestion).
  • The development of mining activity this year will be driven through at least seven mining projects, which together add up to an investment of around US$ 6,153 million. Among the brownfield projects (expansion and replacement) to start this 2020 is the Corani (Puno) unit, a silver mine run by Canada’s Bear Creek Mining. Recently it was indicated that the investment is estimated at US$ 579 million (Diario Gestion).
  • Looking ahead to this year, the investments in the electricity sector are mainly aimed at 100% renewable energy. Thus, Statkraft announced that it would begin to build a new solar plant if everything goes according to plan. He said that the investment in this initiative could reach up to US $ 15 million and would not necessarily be made in the south of the country, where there is better solar radiation. And it is that having lands close to their current operations would prioritize these, sacrificing a little radiation (Diario Gestion).
  • The port terminal segment gained dynamism in 2019 with the announcement that the Chinese company Cosco Shipping and Volcan would invest US $ 3,000 million in the Chancay megaport. The initial master plan contemplated the construction of the port in six stages and 10 docks in total; After the entry of its partner Cosco Shipping Ports Limited, the plan is now to do it in four stages with 15 docks. The terminal would start operating from 2021 (Diario Gestion).
  • After more than a year and four months of inactivity, the Alto Piura Irrigation and Hydropower Project (Peihap), the entity responsible for the future construction of the Alto Piura project, has resumed studies to start the transfer tunnel this month and the embrasure dam, located in the province of Huancabamba (Piura) (Diario Gestion).
  • Paracas Port Terminal (TPParacas), a concessionaire of the General San Martín port in Pisco, culminated in the implementation of the new grain warehouse, whose investment has been more than US$ 8 million. This work is part of the second stage of the port modernization, by concession contract (Diario Gestion).
  • The Cerro Prieto Agricultural Company and the American company Heliae Development LLC initiated a technical alliance with the purpose of conducting research and development in the different agricultural processes and products, prioritizing the efficient use of water, organic fertilization and control of pests and diseases with elements Biological (Diario Gestion).
  • Minera Colquisiri plans to build a 360 m2 chemical and metallurgical laboratory for its María Teresa unit (Huaral), with the capacity to treat up to 200 samples per day, which will arrive from the areas of Mine-Geology, Plant-Process Control and others (Diario Gestion).
  • After a due diligence process, International Airlines Group (IAG) chose Servicios Aeroportuarios Andinos (SAASA), a subsidiary of Andino Investment Holding, so that as of April 1 of next year, it will provide passenger, ramp and cargo services for the Iberia and British Airways companies. Said contract will allow SAASA to increase its participation in the Peruvian air import and export market in a relevant way (Diario Gestion).
  • Petroperú and the Canadian company PetroTal -the latter operator of lot 95, in Loreto- signed a contract that will allow the first to acquire the oil produced by the latter, with which the state oil company will be able to enter the export of crude oil from 2020 (Diario Gestion).
  • In 2020, Swissôtel Lima, continuing with its consolidation strategy in the country, will invest US$ 5 million in the implementation of modern equipment to enhance its exclusive services and customer experience (Diario Gestion).
  • Fibra Prime, the first Securitization Trust for Investment in Real Estate Income (Fibra) listed in the Peruvian capital market, will close 2019 with a portfolio of US$ 70 million, said its general manager, Ignacio Mariategui (Diario Gestion).



If you need more information, please contact Milagros Maraví (mmaravi@rubio.pe) or

Carlos Arata (carata@rubio.pe)


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