Peru: Mining investment to increase formal employment in 2019

Peru: Mining investment to increase formal employment in 2019

Mining investments whose implementation is expected to begin next year will contribute to boosting formal employment, Labor and Employment Promotion Minister Christian Sanchez said on Wednesday.

“Labor market‘s dynamism is seen as positive when major mining —or other types of— projects generate formal employment. This is what everybody expects for 2019,” he told El Peruano official gazette.

“Large mining investments have always created formal jobs, and that is welcome,” he added.

Energy and Mines Ministry (MEM) expects that six mining projects will get underway in 2019 with a US$3.44 billion investment.

These projects include Santa Maria Extension, Lagunas Norte Optimization, Corani, Coroccohuayco Integration, Pachapaqui Extension, and Tia Maria.

Recovery

According to Sanchez, figures from the National Survey of Employment Monthly Changes will be revealed next week.

“It (employment) has already seen a slight recovery for three months in a row. The (results of the) fourth survey will be revealed next week,” he affirmed.

Outlook

It must be noted the construction of Mina Justa, Quellaveco, Toromocho Extension, San Rafael RelavesB2, Quecher Main, and Ariana projects started this year.

Employment at formal private firms is set to grow between 1% and 2% during the first quarter of 2019 in view of the expected pick up in the Peruvian economic activity.