Peru’s Commitment to Mining Sector Growth: Monitoring US$2.8…

Peru will monitor 27 mining projects in 2025, with investments amounting to US$2.8 billion. The Minister of Economy and Finance highlighted a total of 51 projects valued at US$54.556 billion in 2024, predominantly focused on copper. With 75 exploration projects worth US$644 million planned, the government aims to enhance growth in the mining sector through collaboration and investment.

Peru’s Ministry of Economy and Finance (MEF) will monitor 27 mining projects in 2025, with investments exceeding US$2.8 billion. Key projects include Las Bambas, Quellaveco, San Gabriel, Inmaculada, and Mina Justa. This initiative was presented to a group of investors at the Peru Day event during the Prospectors & Developers Association of Canada (PDAC) mining convention in Toronto, emphasizing Peru’s significant mining development opportunities.

Minister Salardi highlighted that Peru possesses a portfolio of 51 mining projects for development in 2024, collectively valued at US$54.556 billion. Approximately 73% of these projects concentrate on copper extraction and are located in various regions across northern, central, and southern Peru. He stated that nine projects with combined investments of up to US$481 million will be initiated between 2024 and 2025, with an additional five projects planned for 2026-2029, representing investments of up to US$5.006 billion.

In terms of mining exploration, Minister Salardi reported a portfolio comprising 75 projects distributed across 11 regions, with investments anticipated at US$644 million. Many of these initiatives focus on copper and silver deposits. The event was organized by the Peru-Canada Chamber of Commerce to attract investors interested in Peru’s mining sector.

The minister reiterated Peru’s role in regional economic growth, projecting a 4% expansion due to rising domestic demand, increased private investment, and record public investment levels. He indicated that 2025 would be a pivotal year for Peru’s economy, despite the forthcoming 2026 elections, with positive indicators expected to persist. Challenges include enhancing competitiveness, administrative simplification, addressing social and productive disparities, creating conducive investment conditions, formalizing artisanal mining, and combating illegal activities.

In summary, Peru is taking significant steps to accelerate its mining sector’s development through monitoring investments and enhancing exploration projects. The government is fostering an environment conducive to investment, signaling promising economic growth for 2025 despite existing challenges. The presentation at the Peru Day event underscores Peru’s commitment to engaging with potential investors and promoting its mining opportunities.

Original Source: andina.pe