Context and Ministerial Agenda
During PERUMIN 37 in Arequipa, Minister of Energy and Mines Jorge Montero held a series of bilateral meetings with leading mining companies— including Chinalco, Las Bambas, Shougang, Rio Tinto, Newmont, IAMGOLD, Zelestra, and Glencore. The purpose of these discussions was to consolidate new investments, stimulate economic growth, and strengthen employment opportunities in the sector. The meetings underscored the government’s strategy to maintain close dialogue with investors and ensure that projects contribute to both national development and regional well-being.
Main Agreements and Corporate Commitments
Key outcomes varied across companies. Chinalco confirmed progress on studies for a new molybdenum processing plant and committed to expanding its water treatment facilities in Junín, with direct benefits for agriculture and livestock. Las Bambas reaffirmed its social commitments and willingness to advance community projects. Shougang reviewed its Marcona operations and investment opportunities, while Rio Tinto highlighted ongoing exploration campaigns and its alliance with First Quantum for the La Granja project in Cajamarca. Newmont presented plans to build two new water treatment plants and upgrade existing ones in Yanacocha, while IAMGOLD showcased advances in its exploration projects—El Reducto, Ilucan, and Reni—under sustainability standards. Glencore also engaged in dialogue over current operations and potential new investments.
Implications for the Sector
These meetings illustrate the government’s proactive approach to promoting mining as a driver of growth while ensuring environmental and social responsibility. By focusing on water treatment, sustainability, and community engagement, the companies signaled a shift toward more inclusive and environmentally conscious operations. For Peru, the outcome of these dialogues could translate into accelerated project pipelines, enhanced investor confidence, and stronger integration of local communities into the benefits of mining. However, the challenge remains to align corporate commitments with effective policy frameworks and to translate investment announcements into tangible improvements on the ground.