Andina

Peru: MEF to monitor 27 mining projects with investments worth US$2.8 billion

Photo: Ministry of Economy and Finance of Peru

Photo: Ministry of Economy and Finance of Peru

08:42 | Toronto (Canada), Mar. 4.

Economy and Finance Minister Jose Salardi on Monday announced that the Ministry of Economy and Finance (MEF) will be providing support at every stage of mining project development through the Specialized Investment Monitoring Team (ESSI), identifying issues and obstacles that affect their execution.

In this regard, he detailed that monitoring will be conducted on 27 projects involving investments of over US$2.8 billion in 2025, including prominent ones such as Las Bambas, Quellaveco, San Gabriel, Inmaculada, and Mina Justa, among others.

In front of a large group of investors gathered at the Peru Day event in Toronto, held as part of the Prospectors & Developers Association of Canada (PDAC) mining convention, the government official explained that the South American country has significant opportunities for development in mining.

He added that the Executive Branch is committed to further accelerating mining investments by fostering trust and working directly with projects to unblock them.

Project Portfolio

Minister Salardi underscored that Peru in 2024 had a portfolio of 51 projects to be developed, involving investments of US$54.556 billion.

Seventy-three percent of these ventures focus on copper extraction and are decentralized in northern, central, and southern Peruvian regions, he added.

The Cabinet member noted that nine projects were launched between 2024 and 2025, totaling investments of up to US$481 million.

"Besides, five projects will be developed for the 2026-2029 period, involving investments of up to US$5.006 billion," he said.

Mining Exploration

Regarding mining exploration projects, Minister Salardi indicated that Peru has a portfolio of 75 exploration projects located in 11 regions of the country, which will involve investments of up to US$644 million.

"Most of these exploration projects are for copper and silver deposits," he specified.

It should be noted that Peru Day was organized by the Peru-Canada Chamber of Commerce. The event brought together a large group of investors interested in hearing the Peruvian proposal on mining matters.

Regional Leadership

The minister reiterated that Peru will lead growth at the regional level.

Salardi added that the estimated 4% expansion will be supported by factors such as the increase in domestic demand, consumption, and private investment, as well as the record levels achieved by public investment.

The high-ranking official stated that 2025 will be an interesting year for Peru in economic terms, even with the upcoming 2026 elections, as its main indicators will remain positive.

He noted that among the mining sector's challenges in the medium term are promoting its competitiveness and administrative simplification processes; advancing in closing social and productive gaps; creating conditions for a new investment expansion cycle; formalizing artisanal mining; and eradicating illegal activities.

(END) NDP/SDD/MVB

Published: 3/4/2025