projected that mining and non-mining investments in Peru will grow 7.8% and 1.7%, respectively, which will contribute to Peru's economic reactivation process.
"Overall, private investment will grow 2.3% this year and 3% in 2025," he forecast during his participation at a mining symposium organized by the National Society of Mining, Oil, and Energy (SNMPE).
In this sense, the chairman projected that Peru's productive activity will grow 3% this year.
During his participation, he mentioned one of the factors that contributed to Peru's economy maintaining a growth pace was mining investment, which accounted for 13% of total private investment between 2000 and 2023.
Exports
In this sense, the issuing entity's head affirmed that mining exports grew nine-fold compared to the amounts shipped at the beginning of this century.
According to the economist, this is reflected in an increase in demand for metals, such as copper, produced in Peru.
On the other hand, Velarde warned about the excess of procedures that has been complicating mining investment flow.
Similarly, he indicated that it is necessary to simplify many procedures with the aim of increasing the country's competitiveness.
Velarde also said a factor that had not been (considered) in projections was the demand for electricity by AI.
"This means that the demand for copper will not only rise due to replacing fossil fuels and its contribution to energy transition but also because of artificial intelligence itself, which is already a reality," he emphasized.