Peru currently holds nearly 12% of the planet's total copper reserves, according to Symposium – 16th International Mining Meeting Chairman Diego Ortega.
"In Peru's case, we have copper reserves equivalent to nearly 12% of the global total, while the country is geopolitically aligned with the main consumer markets and operates within an open-market economy," he indicated.
During the event's inauguration, the chairman said copper and other critical minerals not only represent a new cycle in the history of the global economy, but are driving a worldwide transformation.
"Twenty years ago, copper prices mainly rose or fell depending on China's growth. Today, demand responds to far more structural factors because we are talking about the energy transition, electrification, artificial intelligence, data centers, and energy security," Ortega explained.
"Critical minerals are no longer just commodities and have now become strategic assets. Probably one of the most important changes in recent years is that geology has also started to become geopolitics," he added.
The chairman said this represents a historic development opportunity for a region that still faces enormous social gaps and needs in terms of growth, infrastructure, and formal employment.
"When we talk about mining, we are actually talking about opportunities for people, sustainable growth, connectivity, innovation, and social mobility," Ortega stated.
"In a region marked by political fragmentation, informality, and growing distrust toward institutions, formal, modern, and transparent mining not only sustains exports or fiscal revenues, but also supports formal employment, macroeconomic stability, regional investment, and the (Peruvian) State's capacity to finance development and democratic governance," he added.
Ortega underscored that Peru is facing a decisive opportunity to consolidate itself as a strategic player in the new global landscape shaped by growing demand for critical minerals.
However, the country's main challenge remains transforming its geological potential into viable projects and sustainable development.