In 2023, India grew to become the second greatest purchaser of Peru’s gold and it ought to put money into new gold mining tasks within the South American nation contemplating rising demand for the steel, he stated.
India fulfills most of its gold demand by means of imports.
Whereas China, Canada, Mexico, and the US are investing in Peru’s mining sector, India has not but invested regardless of being a number one purchaser of gold, Velarde stated.
“At the moment, we have now six main gold tasks within the funding stage with a complete shopping for funding of seven billion {dollars},” he stated.
(By Rajendra Jadhav and Sherin Elizabeth Varghese; Enhancing by Sandra Maler)