Opening Stock Market in Toronto

Opening Stock Market in Toronto

On the final day of the Prospectors & Developers Association of Canada (PDAC) 2019 Convention, the Peruvian delegation was invited to ring the opening bell at Toronto Stock Exchange (TSX), Canada’s senior stock market.

The delegation was headed by Peru’s Vice-President Mercedes Araoz, Energy and Mines Minister Francisco Ismodes, as well as Governors Zenon Cuevas (Moquegua) and Juan Tonconi (Tacna).

After the ceremony, Minister Ismodes underscored the strong mining ties between Peru and Canada.

“Mining construction projects owned by Canadian firms total nearly US$5 million. Besides, Canadian supplier enterprises share technology and best practices to enable further development of the industry,” he noted.

Canadian companies’ initiatives account for about 15% of the mining construction projects portfolio, defined by the Ministry of Energy and Mines (MEM), which makes the North American country the third largest investor in the Peruvian mining sector, after the UK and China.

Some Canadian projects include Haquira by First Quantum Minerals (US$1.860 billion), Cañariaco Norte by Candente Copper Corp. (US$1.600 billion), and Cotabambas by Panoro Minerals (US$1.533 billion).

The Peruvian delegation comprised around 300 people among government officials and entrepreneurs from the mining sector.