Peru’s Ministry of Economy is set to monitor 27 mining projects valued at US$2.8 billion slated for 2025. Key projects include Las Bambas and Quellaveco. With a portfolio of 51 projects in 2024 requiring US$54.556 billion, there are also 75 exploration initiatives with investments up to US$644 million. The minister noted that Peru aims to lead in regional growth, addressing challenges in the mining sector.
The Peruvian Ministry of Economy and Finance (MEF) plans to monitor 27 significant mining projects worth over US$2.8 billion scheduled for 2025, which include key initiatives like Las Bambas, Quellaveco, San Gabriel, Inmaculada, and Mina Justa. This announcement was made at the Peru Day event in Toronto during the PDAC mining convention, signaling the government’s intention to enhance opportunities in the mining sector.
Minister Salardi noted that Peru had a portfolio of 51 mining projects projected for development in 2024, requiring investments totaling US$54.556 billion. Most of these projects focus on copper extraction and are spread across northern, central, and southern regions of the country. Salardi mentioned that nine projects would initiate between 2024 and 2025, totaling around US$481 million, alongside five more set for 2026-2029, which will require an investment of up to US$5.006 billion.
Regarding mining exploration, the minister reported a portfolio of 75 projects across 11 regions, gathering investments of up to US$644 million, primarily targeting copper and silver deposits. The Peru Day event highlighted the country’s robust mining proposals to investors, organized by the Peru-Canada Chamber of Commerce, showcasing the importance of investor relations.
Salardi emphasized Peru’s leadership in regional growth, with an estimated economic expansion of 4% driven by escalating domestic demand, consumption, and private investments, complemented by unprecedented public investment levels. He asserted that despite the impending 2026 elections, 2025 would present a favorable economic landscape for the country as key indicators remain optimistic.
The minister pointed out the medium-term challenges facing the mining sector, such as enhancing competitiveness, simplifying administrative processes, bridging social and productive gaps, and facilitating new investment cycles. Additionally, he mentioned the need to formalize artisanal mining and combat illegal activities.
The Peruvian government is actively investing in and promoting its mining sector, with substantial future projects and a focus on economic growth, despite upcoming elections. Key challenges will need to be addressed to sustain development and attract further investment. Overall, the government’s commitment to fostering trust and collaboration with investors marks a significant step towards reinvigorating Peru’s mining landscape.
Original Source: andina.pe
