convention's agenda, which allows global executives to present potential investors the opportunities each country offers for developing projects in extractive industries.
The government official stated that, for the past decade, Peru has generated US$5 billion in mining investment annually.
Montero added that this figure must be doubled given the country's vast potential and extensive mining projects portfolio.
"In Peru, we have had US$5 billion in mining investment each year for a decade. If this continues, it is a failure. We have projects like Quellaveco, Zafranal, and Pampa de Pongo, which will take time. We need more than that (…). We must put in more effort and take risks," he emphasized.
The Cabinet member underscored the importance of all actors in the mining sector working together to drive industry growth in Peru.
"We need a bit more commitment from the Executive (Branch), coordination with the Legislative (Branch), and from you, who enhance the value of the country's resources," he added.
During his presentation, Minister Montero emphasized that the future of mining lies in exploration projects, which is why the Ministry of Energy and Mines (Minem) is focusing all its efforts on this area.
"We are focusing on this, with support from the World Bank and other cooperation organizations," he noted.
PDAC 2025 has provided Minem with the opportunity to promote new sustainable mining projects, with gold emerging as a resource with significant investment potential, particularly in the small-scale and artisanal mining segment.
"It currently stands at US$10 billion, and if it continues to rise, a public-private business initiative could be activated," Montero stated at the end of his presentation.
It is worth noting that PDAC 2025 —the world's most important mining summit— provided Peru with the opportunity to reinforce its global leadership in mining, reaffirming its commitment to developing the sector sustainably through investments that generate economic growth and the well-being of the Peruvian population.