"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.

He said that although transitory shocks have been seen in the prices of raw materials, and the most sensitive is the price of copper, which came down to 2.50 dollars per pound, Peru has advantages to attract capital in this sector.

"The favorable thing that Peru has is that its mines, especially in copper are quite competitive, the cash-cost of operating them is quite low, and even with relatively moderate prices of commodities you can operate with profits and this generates taxes and income. prosecutors, "he said.

According to MEM's Statistical Mining Bulletin, Beneficiation Plant investment totaled US$690 million, a 358.2% rise in the first seven months of this year, compared to the same period in 2017 (US$151 million). 

However, Infrastructure allocations decreased 6.2% (US$573 million) from the similar period last year (US$611 million).

The bank Scotiabank raised its forecast of growth of mining investment in Peru from 14% to 17% by 2018 and from 9% to 13% by 2019, and estimated that the investment would reach some US $ 4,600 million in 2018 and about US $ 5.2 billion in 2019.

The main change in this estimate is the incorporation of the Quellaveco project, from Anglo American, to the Scotiabank projections. Previously, it considered marginal flows for both 2018 and 2019, said the senior analyst at the bank's Economic Studies Department, Erika Manchego.

"With a copper price of US$3 per pound, (investing in) any Peruvian mine is profitable; even with the current price levels of US$2.80 most mining exploration activities are profitable," BCR Economic Studies Manager Jorge Estrella remarked.