Peru is weighing the potential approval of mining projects with a total value of $6bn (21.69bn new sol), aiming to enhance the country’s revenue from this key sector, according to a Reuters report.
President Dina Boluarte, addressing Congress, highlighted the government’s evaluation of 134 exploration and exploitation projects.
The country, known as the third-largest copper producer globally, is engaging in dialogue with informal miners following protests that disrupted a transport route crucial for major mining companies like MMG and Glencore.
The situation among informal miners is said to have intensified after more than 50,000 were excluded from a formalisation programme, leaving just 31,000.
The government plans to align these remaining miners with regulations by the end of the year.
These miners have temporarily halted their protest and blockade during discussions about a possible new mining law.
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By GlobalDataIn her address, the president also mentioned the creation of a private mining fund to provide small formal operators with better access to financing.
Furthermore, the president announced an agreement with Ecuador’s state oil company, Petroecuador, to link Ecuadorean oilfields to a Peruvian pipeline, facilitating transport to Peru’s Talara refinery.
Despite Peru’s economic recovery from a recession sparked by anti-government unrest, almost 30% of the population remains in poverty.
The president, who will remain in office until 2026, succeeded Pedro Castillo following his arrest for attempting to unlawfully dissolve Congress.
She is currently under investigation for deaths during protests, allegations she denies. Controversy also arose when Boluarte’s cabinet decided to double her salary in July, as per the report.
