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The Ministry of Energy and Mines (MEM) reported total mining investments in Peru grew 52% in the first quarter of 2011, from $1,037,632,081 the same period of 2010 to $1,574,674,031 this year.

According to the MEM Monthly Mining Bulletin, in January 2011 $327,602,774 was invested and in February $319,374,923; March reached $486,848,461; April $440,847,873; mining equipment for processing plants in the first quarter totaled $221,124,081, while equipment was $96,425,261 and exploration $246,681,982.

Investment in mining activities totaled $255,049,945 for the first quarter. In the first four months of this year there was also $252,240,275 invested in mining infrastructure and $228,434,070 in other sectors $274,718,416 in preparation.

By category, investment for equipment processing plants had an increase of 121% over the first four months of last year; exploration increased 45%; exploration 31%; infrastructure increased by 47%, other in 33%, and preparation 224%. Only the mining equipment category showed a decline of 33% in its investments.

Meanwhile, the company Xstrata led the mining ranking with more investment in the first quarter, reporting a total of $230,898,339, representing 21.5% of the total. Second is Minera Yanacocha with $167,836,309 (10.7%), and Minera Chinalco Peru in third place with $142,133,336 (9%).

Then follows Antamina with $132,222,115 (8.4% of total) and Compania de Minas Buenaventura $61,431,676 million (3.9%). In total, 20 mining companies invested 80.7% of the $1,574,674,031 reported in the first quarter of 2011, and others invested the remaining 19.3%.

On the other hand, according to the Report of Industrial Sentiment Index (destitution) in April 2011 the Ministry of Production (PRODUCE), the 30.5% of industries expected to increase and only 9.3% to decrease. Also, 60.8% of reporting firms predicted that sales in Peru would remain stable, while 30.7% predicted an increase and only 8.5% see a decrease.

As for exports, 81% of companies believe that foreign sales will remain; 14.5% see an increase and only 4.5% expect a decline. On the other hand, 80.6% of the companies consulted about employment in the coming months expect no change in staffing. While 12.2% believe they will increase and 7.2% predict a decrease in staff.

In addition, 86.4% of companies did not warn of changes in the use of installed capacity, 10.9% expected an increase, while 2.7% expected a decline. 66% of businesses expected that the minerals would maintain prices; 32.4% predicted an increase, and 1.6% expects them to decrease. Finally, 20% of the companies surveyed expected to make productive investments in the coming months and a significant 80% do not plan to invest.