Lima (Platts)--23Jan2013/530 pm EST/2230 GMT
Peruvian minerals exports earned total revenue of $25 billion in 2012 and this year are expected to rise to $30 billion, with copper production to more than double by 2016, Energy and Mines Deputy Minister Guillermo Shinno said Wednesday. "As far as copper we closed last year with 1.3 million mt and this year it should be higher due to the start up of operations of (Xstrata-owned) Antapaccay, the expansion of Antamina (owned by Xstrata with 33.75%, BHP Billiton with 33.75%, Teck-Cominco with 22.5% and Mitsubishi Corp. with 10%) and the (construction of Chinalco's) Toromocho," he said in comments to state news agency Andina. Shinno projected that by 2016 the total copper production will reach 2.8 million mt thanks to completions of expansion and of new projects. Gold production will not see an important increase this year, he added. The expected total mining investment in Peru for this year in exploration will be about $1 billion, Shinno said. The total planned investment in exploitation activities is $20 billion included for the development of mines, expansions and machinery replacements. Peru produces in addition to gold and copper other metals like silver, zinc, tin, lead and iron ore. The country energy and mines ministry has yet to release full production figures for 2012.--Renzo Pipoli newsdesk@platts.com --Edited by Richard Rubin, richard_rubin@platts.com