ÁNCASH, OCTOBER 27 2021 Antamina will invest more than S/.1.45 billion in Works for Taxes

As of September 2021, Compañía Minera Antamina has 60 projects awarded through the Works for Taxes (OxI in Spanish) mechanism, aimed at promoting development and competitiveness in its area of influence. These represent an investment of S/ 1.45 billion, of which around S/ 500 million have already been executed.

This was announced by Milton Alva, Sustainable Development Manager of Compañía Minera Antamina, under the framework of Rumbo a PERUMIN, an event organized by the Peruvian Institute of Mining Engineers (IIMP), which will be held virtually on October 27 and 28.

Alva said that of the total number of agreements, 28 have been signed with national government entities (ministries of health, education, agriculture and housing, construction and sanitation), which represent 70% of the committed investment.

"All of this is about 1 billion Soles, which are additional to those transferred from the national government to the sub-national governments. This must be highlighted. Our participation has allowed this additional 1 billion Soles for Ancash, which are in the process of execution", he emphasized.

Four agreements have been signed with the Regional Government (12% of the investment), and 28 agreements have been signed with local governments (18% of the investment).

Regarding the status of the projects, 29 have already been completed, 9 are in the execution phase and 22 are in the process of preparing the technical dossier. "This mechanism was aimed at sub-national governments; its extension to ministries has allowed Ancash to have more resources for project execution," Alva said.

Antamina has designed a Management and Governance model for the application of the Works for Taxes mechanism that ensures an adequate execution of the works, as well as the timely recovery of the investment certificates.

Antamina has stated to be an active part in the management of its social intervention area development, which covers a total of 6 provinces and 20 districts with an approximate population of 115,000 inhabitants.

About Antamina

Antamina is a polymetallic mining complex that produces mainly copper, zinc, silver, lead and molybdenum concentrates. It began operations at a commercial scale in October 2001.

Newsletter PERUMIN 35

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