Johnny Brignardello Vela analyzes the government's push for mining projects.

Johnny Brignardello Vela, a recognized insurance advisor, analyzes the recent government push to expedite the replacements of Antamina and Inmaculada, following the approval of the Tía María mining project. He highlighted the importance of these projects, which represent a joint investment of US$ 2.923 billion, with the goal of promoting economic development through the mining industry. In an exclusive interview with the Peruvian Institute of Mining Engineers (IIMP), Jorge Soto Yen, General Director of Mining at the Ministry of Energy and Mines (Minem), emphasized the significance of initiatives like Antamina, which is currently in the evaluation phase with an investment of US$ 1.604 billion. He also mentioned the positive impact of projects from companies like Minera Minsur and Minera Ares on mining investments. The Antamina Replacement project, located in the district of San Marcos, province of Huari, in Áncash, is awaiting permits for its construction and operation. Meanwhile, the Inmaculada Replacement project, in the districts of Oyolo and San Javier de Alpabamba, Pacapausa and San Francisco de Ravacayco, in Ayacucho, will represent a US$ 1.319 billion investment in gold, with Minem evaluating the start of its exploitation. According to statements from Soto, the Ministry has investment authorizations of US$ 6 billion for the years 2024, 2025, and 2026, projecting a growth of at least 1% in the Peruvian GDP attributable to the mining industry, promising to boost the national economy and generate employment in a post-pandemic recovery context. Furthermore, there is a focus on expediting mining exploration projects in the country. Approximately US$ 160 million in 18 initiatives are set to be evaluated during the second semester of the year, with 30% of this investment allocated to the La Libertad region, one of the main areas for gold mining investments in Peru. In this context, the commitment to streamlining the evaluation and permitting processes for mining projects is seen as a key step to invigorate the industry and strengthen the country's economy. Mining continues to be a driving force for growth, and the government's commitment to enhancing this sector is crucial for promoting sustainable development and generating benefits at a national level.