Peru’s Ministry of Energy and Mines Expects Significant Investment in Mining Sector

The Ministry of Energy and Mines of Peru plans to process Environmental Management Instruments for 41 mining projects this year, opening avenues for US$804 million in investments. Projections for 2025 suggest a rise to US$1.039 billion, reflecting a positive trend for the mining sector. Minister Jorge Montero emphasized the importance of regulatory improvements and international cooperation during discussions at the PDAC 2025 Convention.

The Ministry of Energy and Mines (Minem) of Peru anticipates processing Environmental Management Instruments (EGIs) for 41 mining exploration projects this year, facilitating an investment of approximately US$804 million. Furthermore, the agency aims to undertake preliminary consultations for 14 exploration projects and authorize explorations for 29 projects, heralding robust development in the mining sector.

Minister Jorge Montero remarked on the positive trajectory of the Mining Exploration Projects Portfolio, projecting that investments in 2025 may surpass US$1.039 billion, reflecting a 75% increase compared to 2024. The minister made this announcement at the PDAC 2025 Convention in Toronto, highlighting an increase in investment initiatives to 84, up from 75 the previous year.

In addition to presenting investment figures, Minister Montero emphasized the significance of improving geological studies and expediting the formalization process for small-scale mining at the 10th International Summit of Mining Ministers. Discussions on bilateral cooperation regarding strategic metals occurred with France’s Delegate for Strategic Mineral Supplies and Advisor on Critical Metals.

The minister, alongside Economy-Finance Minister Jose Salardi, also convened with executives from mining firms listed on the Toronto Stock Exchange, showcasing their commitment to collaborating on investments and business development in Peru. He concluded by stating that, “The Government is making significant efforts to simplify bureaucracy… the mining industry’s growth… is a joint effort between the public and private sectors.”

The Ministry of Energy and Mines of Peru is poised to enhance investment in the mining sector significantly for 2023 and beyond, with plans for 41 projects and a projected investment of US$804 million. This trajectory indicates a promising future, especially with projected investments exceeding US$1 billion for 2025. Minister Jorge Montero’s commitment to improving regulations and cooperation with international partners is vital for bolstering the mining sector’s growth in Peru.

Original Source: andina.pe