, during which he presented the main investment opportunities Peru offers in the mining sector.
"Peru is a mining country, with economic growth close to 4%, and we are interested in mutual cooperation for the development of new business opportunities," Montero stated.
"We recommend that you engage in dialogue with the Geological, Mining, and Metallurgical Institute (Ingemmet), as there are 46 areas where advanced exploration can be carried out," he added.
It highlighted that, of the 15.2% of areas under concession, only 1.54% is currently used for mining activities, underscoring the existing opportunities for exploration.
"The (Peruvian) State guarantees legal security for investors and a tax stability regime during the exploration stage. In addition, it is in our interest to develop a multidimensional mining corridor in Cajamarca (region)," Director Walter Sanchez stated.
Montero noted that Minem could facilitate contact between Saudi companies interested in investing and those in charge of projects underway, highlighting the potential of 5 million tons of lithium reserves located in Peru's southern area.
In turn, Ingemmet representatives expressed their openness to future collaboration, not only in mining exploration initiatives but also in the exchange of technological knowledge, which would strengthen Peru's sustainable growth.
In response, the Deputy Minister of Mineral Resources Management and head of the Saudi delegation, Abdulrahman Albelushi, thanked the Peruvian officials for the presentation.
He expressed the interest of Saudi Arabian investors in entering the mining sector and in the projects currently under development in the South American country.
Moreover, the Peruvian minister reiterated his invitation for the delegation from the Saudi Arabian Ministry of Industry and Mineral Resources to take part in Perumin this September, the leading mining convention in Latin America and the world.
The meeting was also attended by officials from Peru's Deputy Ministry of Mines and Ministry of Foreign Affairs.