Peru’s MEF plans to oversee 27 mining projects in 2025 worth over US$2.8 billion, including major initiatives like Las Bambas and Quellaveco. With a total mining project portfolio of 51 worth US$54.556 billion, the country aims to boost investments and enhance competitiveness in the sector, despite upcoming elections in 2026.
Peru’s Ministry of Economy and Finance (MEF) is set to monitor 27 mining projects in 2025, representing investments exceeding US$2.8 billion. This initiative includes significant projects such as Las Bambas, Quellaveco, San Gabriel, Inmaculada, and Mina Justa. During the recent Peru Day event at the Prospectors & Developers Association of Canada (PDAC) mining convention in Toronto, officials conveyed Peru’s commitment to enhancing mining sector growth by cultivating investor trust and addressing project barriers.
Minister Salardi elaborated that, in 2024, Peru boasts a portfolio of 51 mining projects amounting to US$54.556 billion, with 73% focused on copper mining. The projects are geographically diversified across northern, central, and southern Peru, and between 2024 and 2025, nine new projects will commence, involving investments of up to US$481 million. Furthermore, an additional five projects slated for 2026-2029 will require investments of up to US$5.006 billion.
On mining exploration, Minister Salardi mentioned that Peru’s exploration portfolio includes 75 projects distributed across 11 regions, targeting investments of approximately US$644 million. The predominant focus of these exploration initiatives is on copper and silver deposits. He indicated that the Peru Day event, organized by the Peru-Canada Chamber of Commerce, successfully attracted investors keen on exploring opportunities in Peru’s mining sector.
Reiterating Peru’s position as a regional growth leader, Minister Salardi predicted a 4% economic expansion driven by rising domestic demand, private investment, and increased public expenditure. He noted that, despite the upcoming 2026 elections, Peru’s economic indicators remain positive for 2025. Among the medium-term challenges for the mining sector, he highlighted the need for improved competitiveness, simplification of administrative processes, addressing social issues, and formalizing artisanal mining.
In summary, Peru is actively promoting investment in its mining sector with significant projects on the horizon. The MEF’s monitoring of 27 substantial projects signals a commitment to fostering growth, addressing challenges, and enhancing regional competitiveness. The projected economic expansion remains promising, even amid upcoming elections, underscoring the government’s focus on driving development in mining.
Original Source: andina.pe
