Andina

Peru has strong comparative advantages to attract mining investment

09:00 | Lima, Aug. 18.

Energy and Mines Minister Ivan Merino has underlined that Peru has strong comparative advantages to attract investment in the mining sector when compared to other countries in the region.

First of all, he highlighted the availability of the country's human capital specialized in mining and related activities, which enables the implementation of projects with Peruvian professionals and technicians.

Additionally, the minister underlined the country's geological wealth, stressing the existence of world-class metallic and non-metallic deposits, as well as large scale operations.

The head of the Ministry of Energy and Mines (Minem) mentioned that another advantage is that the Government wants to foster the mining activity and, therefore, he announced that it will be promoted to become one of the mainstays of the economy. 

Finally, the government official argued that there is a lot of geological information of the territory, which is highly appreciated by investors, noting that such advantage derives in large part from the work of the Geological, Mining, and Metallurgical Institute (Ingemmet).

Merino explained that the Social Profitability criterion has been created to overcome the challenges of the mining industry and to foster its sustainable development. 

This criterion is intended to ensure the country's revenues, an appropriate treatment of workers, the technological transfer, and the implementation of good practices carried out in other countries, among other things.

"Incentives will be provided to those who manage to protect and regenerate the environment, as well as to every intervention that protects the cultural context instead of modifying it," he stated.

"Rather than facilitating the projects, we will assist them by promoting a horizontal dialogue among all agents in the mining sector," the Cabinet member said during the ceremony marking the anniversary of Ingemmet.

(END) NDP/MDV/RMB

Publicado: 17/8/2021