Prime Minister Gustavo Adrianzen
LIMA - Peru's government has authorised miner Barrick Gold to carry out mining explorations in the country's southern border area, the prime minister announced on Wednesday.
Peru's constitution requires foreign private investment within 50 km of the country's border to be approved by the Cabinet of Ministers.
"The expansion of our mining portfolio is essential, given that this activity is one that drives the economic reactivation process," Prime Minister Gustavo Adrianzen said in a press conference.
Mining is key to Peru's economy, with 60% of the Andean nation's exports coming from the mining sector, mostly copper.
Officials have been working to attract private mining investment after a dip last year contributed to the country falling into a recession.