Lima, (NNN-ANDINA) : Peru is on its way to becoming the largest tin producer in the world with recent Minsur discoveries at Taucane project in Puno region, the mining company pointed out.

“As a result of this discovery, the presence of minerals in Carabaya foothill area can take a new turn to strike more tin than expected,” Minsur geologist Daniel Alayza stated.

Peru is currently the third-largest tin producer in the globe, with only one mine —operated by Minsur— whose production is set to grow 40% by 2019 with a range of investments.

Taucane exploration activities have been suspended since mid-2015, due to low tin prices and failure to earn social license in some nearby communities.

“In mid-2015, the price dropped to US$13,000 per ton. This reduced the company’s investment. In fact, over 30% of explorers left the team,” he said at the 10th International Congress of Prospectors and Explorers (proEXPLO 2017) held in Lima.

Despite the surge in the price of metals, including that of tin, which ranges between US$19,000 and US$20,000 per ton, the company expects to resume drilling works in the future.

Now Minsur is putting emphasis on mature projects like Santo Domingo and Nazares, both in Puno region.