Maquinaria Lorenzana S.A.

MEF

Major mining projects value at over US$ 34 billion in Peru will create 1.5 million additional jobs in this sector, the Andean country's Finance Minister Luis Miguel Castilla said Tuesday during his remarks at the 31st Perumin Mining Convention.

Delivering his speech named "Strategies for an Ongoing Economic Growth with Social Inclusion", Castilla stressed that mining sector contributes substantially to the country's production and employment generation.


The minister claimed that mining exports have a productive chain effect which is reflected in the growth of production and employment in the country, directly and indirectly.


"For every additional US$ 1 billion from mining exports there is a multiplier effect of US$ 1.4 billion of an additional production and about 80,000 additional jobs," Peru's top official noted.


Likewise, Castilla stressed Peru's commitment to trade integration in the world and attract investment in mining activity which can generate growth and reduce poverty.


Perumin annual event is the world's largest mining convention which is taking place in the city of Arequipa, southern Peru, and runs through September 20, 2013