Peru will promote 18 mining projects worth US$22 billion to revitalize the economy and employment.

Peru will have to start the construction of 18 mining projects in the next decade, with an estimated value of US$22 billion, as announced by Gonzalo Quijandría, president of the Symposium - XV International Mining Meeting, organized by the National Society of Mining, Petroleum, and Energy (SNMPE). This measure is presented as a key opportunity to revitalize the country's economy and provide new employment and development opportunities in various Peruvian regions. Quijandría emphasized the importance of working together to continue driving Peru's growth, highlighting that the mining industry created 225,000 direct jobs in 2023, with 95% located outside of Lima, mainly in regions such as Moquegua, Apurímac, and Pasco. These figures reflect the importance of continuing to invest in an industry that stimulates the national economy and decentralizes job opportunities. The high international demand for minerals produced in the country has highlighted the need to make strategic decisions about the development and future of the mining sector. Quijandría warned about delays in procedures and permits, which can affect Peru's competitiveness as a destination for mining investments, emphasizing the importance of optimizing processes to ensure efficient operations. The president of the Symposium also emphasized the importance of clearly defining the type of mining to be promoted in the country, debating between formality that complies with legal and environmental standards, and illegality that has harmful consequences for society and the environment. This reflection points to the need to establish policies that promote responsible and sustainable mining, in line with international standards. In this context, Quijandría highlighted the need to consolidate a mining sector that continues to be a driver of development and social progress for Peru, involving all relevant actors in the mining value chain. Faced with increasing poverty rates and the persistence of illegal mining, the call is to address the remaining challenges with firm decisions and actions that promote equitable and sustainable development for all Peruvians. The resources generated by mining play a crucial role in reducing social gaps in the country, with mining royalties and taxes being significant sources of public investment. However, it is essential to ensure the correct distribution and effective use of these resources to maximize their impact on the local and regional communities hosting mining projects. With a portfolio of mining projects exceeding $55 billion, Peru is facing a valuable opportunity to stimulate economic recovery and create thousands of formal jobs. The commitment to responsible and sustainable mining development stands as an urgent priority to strengthen the economy, boost employment, and promote equitable progress in all regions of the country.