The government of Peru announced Friday it had brokered a deal between the regional government of Moquegua and Anglo American to develop the $3 billion Quellaveco copper mine.

Minister of Energy and Mining Jorge Merino said the agreement “fits with [the country’s] new mining policy,” and said it would ensure the region’s water supply, and agricultural development, and would lead to the construction of highways.

Anglo American estimated that the production phase would start in 2016, and would see 225,000 tons of copper per year, Peru21 reported.

Peru’s central government estimates the Quellaveco project would involve approximately an investment of 850 million soles for social projects.

"We are giving a signal that betting on dialogue always gives good results,” Merino said, adding that the government hoped to reached a similar agreement in Cajamarca, where the regional government still opposes the Conga mining project.

"We remain a friendly country for investment, when things are done through dialogue," he added, according to Andina.

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