News of the Week
A curated weekly newsletter tracking the stakeholder stories others miss. NOW! delivers essential insights for professionals working in complex environments where stakeholder dynamics can make or break business outcomes.
Edited by DONATO PEÑA
issue 29
Editorial Note to Issue #29
This week’s stories—from the U.S. expansion of its critical minerals list to Africa’s struggle for industrial value and Peru’s contested path to mining formalization—reveal a profound turning point: the era of extraction is giving way to the era of institutional credibility and shared prosperity. The global minerals economy is no longer defined by who controls the deposits, but by who earns trust, governs transparently, and shares value sustainably. Industrial maturity and institutional legitimacy—not geological endowment— are now the true determinants of competitiveness.
In Latin America, Peru’s REINFO debate and the surge of informal mining highlight the fragile boundary between legality and legitimacy. Regulatory ambiguity has allowed informality to thrive while communities continue to wait for inclusion’s tangible dividends. Across Africa, countries such as Mozambique, Kenya, and Ghana are linking mineral policy with domestic processing and value addition—moving from extraction to transformation. Meanwhile, the United States’ decision to broaden its critical-minerals list signals a strategic shift in industrial policy: copper, silver, and steel are once again at the center of a redefined clean-energy security agenda, where governance matters as much as geology.
At VERIDICOR, we believe the next frontier is not merely securing a License to Operate but achieving Regional Stakeholder Prosperity (RSP), a verifiable system that turns social legitimacy into a financial- performance variable. RSP converts stakeholder trust into quantifiable enterprise value through three mechanisms: lower cost of capital, operational stability, and goodwill creation. In practical terms, that means moving from reactive social management to proactive investment in regional well-being. This is the framework guiding our analysis and shaping our proposals: a model where trust is measurable, prosperity is investable, and social value becomes the foundation of competitiveness.
The path forward demands more than compliance; it requires governance, coherence and institutional credibility. The mineral economies that thrive will be those capable of turning regulation into credibility, credibility into trust, and trust into value—where inclusion, predictability, and transparency form the backbone of sustainable growth. The future of mining and energy development will not hinge on the size of reserves, but on the strength of relationships, the quality of governance, and the durability of shared prosperity.
Insight of the Week
The future of extraction lies in shared prosperity. Regional Stakeholder Prosperity (RSP) turns legitimacy into measurable value—linking governance, growth, and goodwill. The next global advantage will belong to those who invest not only in minerals, but in the stability and trust of the regions that sustain them.
issue 28
Editorial Note to Issue #28
This week’s stories—from Mozambique’s suspension of mining licenses in Manica to Peru’s struggle with illegal gold corridors and Africa’s push for transparent infrastructure finance—converge on a single insight: legitimacy has become the world’s most valuable yet fragile resource. Across continents, enforcement without inclusion has failed, and investment without accountability has lost its moral and political footing. The extractive economy can no longer be managed by permits alone; it must be rebuilt on trust.
At VERIDICOR, we believe the next frontier is not merely securing a License to Operate but achieving Regional Stakeholder Prosperity (RSP), a verifiable system that turns social legitimacy into a financial- performance variable. RSP converts stakeholder trust into quantifiable enterprise value through three mechanisms: lower cost of capital, operational stability, and goodwill creation. In practical terms, that means moving from reactive social management to proactive investment in regional well-being. Under this lens, legitimacy is no longer a moral appeal, it is an economic advantage that strengthens both balance sheets and social contracts.
Examples are already emerging. Peru’s new partnership with the World Bank to formalize artisanal mining shows that governments can transform informality into inclusion. In Africa, de-risking frameworks and blended finance are beginning to tie investor confidence to transparent local benefits. These approaches reflect the essence of RSP: when communities prosper, projects stabilize, and investors gain predictability. The next logical step is financial innovation — such as Prosperity-Linked Bonds or Trust Performance Metrics — that reward institutions for measurable social outcomes.
The path forward lies in institutionalizing prosperity, not just regulating extraction. Regional Stakeholder Prosperity offers a governance model where legitimacy is auditable, trust is investable, and inclusion becomes the foundation of competitiveness.
At VERIDICOR, we believe that turning legitimacy into value is the true measure of 21st-century development — where nations grow not by what they extract, but by what they sustain together.
Insight of the Week
The age of compliance is over. The next competitive advantage will come from verifiable legitimacy — where Regional Stakeholder Prosperity (RSP) turns trust into measurable value, and prosperity becomes the new license to operate.
issue 27
Editorial Note to Issue #27
Insight of the Week
Across continents, the week’s headlines revealed a common truth: the success of extraction no longer depends solely on geology or capital, but on consent. In Mozambique, the government’s unprecedented decision to allocate extractive revenues directly to local communities redefines what shared value can mean. Angola’s dual leap — from launching its first copper mine to bidding for De Beers — signals ambition to transform resource wealth into geopolitical standing. Yet in both cases, legitimacy will be tested not by production figures, but by whether citizens perceive that development truly reaches them.
In Peru, the long-delayed Tía María project has finally been approved, reviving both hopes and fears in the Tambo Valley. The same week, Indigenous leaders in the Amazon declared a state of emergency over illegal mining, while communities near Las Bambas in Apurímac questioned new EIA amendments. These events expose the country’s persistent paradox: regulatory progress without social acceptance. Formal permits may authorize extraction, but only trust authorizes permanence.
From the cobalt hubs of Central Africa to the major copper provinces of the Andes, a global realignment in the mining-world is under way — one where value chains, governance and social consent matter as much as ore grades.
At VERIDICOR, we follow the stories behind the headlines — how trust, governance, and social consent decide who truly benefits from the world’s resource transitions
Insight of the Week
“Trust, not technology, will decide who leads the next mining boom.”
issue 26
Editorial Note for Issue #26
Across the Global South, the relationship between extraction, legitimacy, and governance is being redefined. From Mozambique’s push for local processing to Tanzania’s refining mandates and Peru’s tougher action against illegal mining, governments are reclaiming agency over natural wealth once governed by external forces. This marks a turning point in the global resource order—where the goal is no longer just output, but outcome. Yet even as these reforms multiply, a deeper challenge persists: the License to Operate (LTO) remains fragile. Communities demand more than royalties; they seek recognition, participation, and long-term value. Without trust and fairness embedded in regulation, sovereignty risks becoming symbolic—while conflict, as seen in Cajamarca or Cabo Delgado, becomes the default language of accountability. Africa’s new resource agenda illustrates this duality with striking clarity. Its leaders speak of industrialization and energy transition, yet implementation often collides with governance gaps and contested authority. The path forward demands coherence between ambition and institution, between national control and local legitimacy. For investors and policymakers alike, the frontier is no longer technological—it is moral and political. The mining economy of the 2020s will be judged not by volumes extracted, but by the credibility of those who extract them.
Insight of the Week
“Legitimacy is the new currency of extraction. Where governance falters, no resource reform will endure. But where inclusion and accountability take root, mineral wealth can finally serve as a foundation—not a fracture—of national development.”
issue 25
Editorial Note for Issue #25
This week’s developments expose a defining tension for the global extractive and energy sectors: the fragile balance between restoring order and earning legitimacy. From Peru’s militarized response to illegal gold mining in Pataz to Mozambique’s cautious LNG restart, governments are confronting the limits of enforcement-driven governance in regions where livelihoods, insecurity, and environmental fragility intersect. The proliferation of emergency decrees, curfews, and security-for-resources arrangements signals that the “license to operate” is no longer a corporate dilemma alone—it has become a test of state capacity and democratic credibility.
In Peru, illegal mining now eclipses bureaucracy and protest as the primary threat to formal investment, while the country’s emergency measures highlight both the urgency of control and the absence of inclusive reform. Across Africa, the promise of LNG wealth in Cabo Delgado risks repeating the cycle of exclusion that fueled conflict in the first place. The parallel surge in global energy and infrastructure deals—from AEW in Cape Town to new LNG projects in Mozambique—demonstrates that capital remains abundant, but social trust is the scarcest resource of all. Without embedding transparency, participation, and environmental accountability into every new venture, growth risks becoming self-defeating.
The lesson from this week is clear: stability achieved through force is transient; stability built through legitimacy endures. The region’s leading the energy transition will be those that can transform resource extraction into social cohesion—and replace reactive control with shared governance.
Insight of the Week
“Enforcement restores order, but legitimacy restores trust—and only trust sustains development.”
issue 24
Editorial Note for Issue #24
This week’s mining and energy developments underscored that the race for critical minerals is not only an economic or technological contest—it is a test of dialogue. In Peru, the PERUMIN 37 convention in Arequipa brought together government, industry, and civil society to discuss the future of the country’s mining sector. Debates over artisanal and small-scale mining reform, environmental responsibility, and community engagement made clear that competitiveness will depend as much on social legitimacy as on investment and geology. President Boluarte’s call for a new ASM law “with a social sense” and expert warnings about criminal networks tied to illegal mining highlighted how governance challenges are inseparable from market opportunities.
Yet, even as Arequipa hosted panels on trust-building, unrest on the ground reminded the nation of the fragility of that trust. Hudbay was forced to suspend its Constancia mill in Cusco amid blockades, and by September 27, youth-led demonstrations had spilled across regions, disrupting supply chains and challenging both government and industry. These events revealed a generational dimension to Peru’s conflicts: young people are increasingly asserting themselves as decisive actors in defining what kind of development the mining sector should represent. For companies and policymakers, the message is stark dialogue must be continuous and inclusive, or else legitimacy will evaporate rapidly.
Beyond Peru, regional stories echoed similar dynamics. In Ecuador, Indigenous nations mobilized against a massive oil and gas auction plan that they denounce as a violation of free, prior, and informed consent. In Africa, the DRC-Africa Battery Metals Forum and President Tshisekedi’s statements reaffirmed that sovereignty and value addition are central to how governments engage with global powers. And globally, the Grasberg disaster in Indonesia exposed the human and supply risks of over-reliance on mega-mines, with ripple effects on copper markets. Together, these developments show that the extractive transition will rise or fall on its ability to secure not just permits, but trust.
The lesson from this week is clear: development demands dialogue. In Arequipa’s convention halls, on Ecuador’s rivers, and in youth blockades across Peru, communities and nations are asserting that extractive strategies must serve broader social and environmental goals. For companies and governments, listening and engaging are not optional; they are the price of resilience in a world where legitimacy has become the most critical mineral of all.
Insight of the Week
“The most strategic resource today is not hidden underground—it is the trust of the people above it”
issue 23
Editorial Note for Issue #23
This week’s edition of News of the Week (NOW) reveals how fragile the pillars of resource governance have become. Peru’s celebrated copper growth, increasingly reliant on a single mega-mine, underscores the risks of narrow production bases and the political pressures they invite. Zambia is still grappling with the aftermath of its toxic spill, where unresolved claims remind us that accidents become national crises when trust and accountability are missing. Meanwhile, community-led protests in places like Arequipa and Ecuador show how local voices are reshaping the policy debate over water, land, and livelihoods.
Globally, the same tension plays out in different forms. The DRC is testing quota regimes for cobalt; Europe is accelerating its hunt for lithium and rare-earth partners; and South Africa’s G20 minerals push highlights how resource-rich states are trying to influence the governance agenda. But each of these moves is shadowed by the same reality: when communities feel excluded, global supply chains feel the shockwaves.
At VERIDICOR, our analysis highlights that governance is under mounting pressure because it is the bridge between global ambition and local reality. Decisions made in ministries and boardrooms are tested on the ground in villages, watersheds, and corridors where people live with the consequences. The future of the minerals sector will not be determined by geology alone but by the ability of institutions to listen, adapt, and respond to those most affected. Only by grounding decisions in inclusion and accountability can global strategies translate into lasting stability.
Insight of the Week
“Every mine, every policy, every deal must be judged by a simple question: does it leave children and communities better off than before?”
issue 22
Editorial Note for Issue #22
Insight of the Week
This week’s edition of News of the Week captures the accelerating pace of change across the mining, energy, and infrastructure sectors. From Peru’s Mapa Aurífero 2025 and new copper mapping, to global corporate consolidations such as the Anglo American–Teck merger, the industry is actively repositioning itself to meet the demands of the energy transition. Yet the opportunities revealed—record exports, green hydrogen investments, new projects in Cajamarca—remain shadowed by persistent governance and social challenges.
What stands out across the stories is the tension between growth and legitimacy. Peru, Ghana, and Namibia are all pushing ambitious agendas to modernize, diversify, and capture more value from critical minerals. At the same time, informal mining protests, environmental disputes, and community grievances—from Rustenburg to Raja Ampat to Cobre Panamá—demonstrate how fragile the License to Operate (LTO) remains. The academic insights included in this issue remind us that these conflicts are not isolated events, but structural risks deeply embedded in resource governance systems.
At VERIDICOR, our lens is clear: the sector is moving into a new phase where competitiveness will be measured not only in output and reserves but also in trust, transparency, and traceability. This week’s global flashpoints reaffirm that responsible practices, inclusive governance, and smarter stakeholder engagement are no longer optional—they are decisive factors shaping investment flows, policy reforms, and long-term stability.
Insight of the Week
“License to Operate is no longer a local issue — it’s a global metric of competitiveness”
issue 21
Editorial Note for Issue #21
This week’s news reveals both the scale of opportunities in the mining and energy transition, and the fragility of the foundations on which they rest. Governments from Peru to Mozambique are announcing multi-billion-dollar project pipelines, positioning themselves as indispensable suppliers of critical minerals and infrastructure. Peru is pushing ahead with US $12 billion in new mining ventures and over thirty exploration projects, while Southern Africa and Mozambique are showcasing vast reserves and multi-sector investment approvals. These moves point to the accelerating global appetite for resources needed to fuel the energy transition.
Yet, the same headlines also underscore the fragility of governance and the costs of weak institutions. In Cajamarca, over a hundred lives have been lost to illegal mining violence, while in Condorcanqui, foreign mafias operate with impunity along the border. In Zambia, the collapse of a tailings dam contaminated the Kafue River, stripping 700,000 people of safe water and triggering compensation claims already surpassing $420 million. These incidents demonstrate how quickly opportunities can turn into liabilities when community trust is absent, state oversight is weak, and environmental safeguards are neglected.
From Panama’s Cobre Panamá audit, which will decide the fate of one of the world’s largest copper mines, to Zambia’s Kafue River disaster, which has already cost millions and shaken public trust, the message is consistent: the real currency of the transition is not capital alone, but the license to operate. Inclusive consultation, credible safeguards, and respect for Indigenous and local communities are no longer optional—they are the difference between sustainable progress and billion-dollar setbacks. The energy transition will not be judged only by megawatts delivered or minerals extracted, but by the resilience of the relationships that sustain them. After all, in this sector, prevention is always cheaper than reaction.
By the Numbers
US $12B – Mining projects promoted in Cajamarca, Peru.
US $4.8B – Projected mining investment in Peru for 2025.
100+ deaths – Estimated fatalities linked to illegal mining violence in Cajamarca.
700,000 people – Left without safe water after Zambia’s Kafue River toxic spill.
US $420M+ – Compensation claims already filed over the Kafue River disaster.
US $493B – Financing tied to transition mineral projects with rights and environmental risks (Forests & Finance report).
30% – Share of global critical mineral reserves located in Southern Africa (World Economic Forum).
Flashpoints of the Week
Peru: $12B Cajamarca mining push faces deep-rooted community mistrust.
Zambia: Kafue River toxic spill sparks $420M+ claims, threatening trust in copper.
Mozambique: $5B in approved projects and $6B hydropower push test governance.
Brazil: Vale reopens Capanema mine; Cade probes Anglo’s $500M nickel sale to MMG.
Ecuador: Atico Mining clears key community consultation at La Plata project.
Global: $493B in mineral finance tied to rights abuses; uranium demand set to jump 30% by 2030.
Insight of the Week
“Prevention is always cheaper than reaction—the lesson behind every mining conflict.”
issue 20
Editorial Note for Issue #20
This week underscored how the contest for minerals and energy infrastructure is being waged as much on legitimacy and governance as on geology and capital. The Pentagon’s return to cobalt stockpiling, Germany and Canada’s new alliance, and Ukraine’s lithium tender signal how nations are embedding resource
security into industrial and geopolitical strategy. Yet, the tightening grip of China’s rare earth monopoly and sanctions on Congolese cooperatives show how vulnerable supply chains remain when transparency falters.
In Latin America, Peru’s mining rebound of US$ 2.3B is shadowed by the spread of illegal gold mining threatening 73 Indigenous communities, while Colombia illustrates how illicit gold now rivals cocaine in financing powerful criminal networks. Globally, disputes from Norway’s Nussir copper project to India’s Odisha protests highlight that projects falter or advance depending on how governments and companies engage with communities, rights, and governance.
The lesson is clear: in 2025, the battle for resource security is inseparable from the battle for social trust. Stockpiles, trade agreements, and mega-projects may anchor supply, but only legitimacy—through transparent governance, inclusive dialogue, and sustainable practices—can sustain it.
Latin America
• Peru: Mining investments rise 7.2% to US$ 2.3B in H1 2025, led by Southern, Antamina, and Las Bambas —
underscoring both economic strength and dependence.
• Peru: Illegal gold mining now threatens 73 Indigenous communities across nine regions, deepening governance
and legitimacy challenges.
• Colombia: Criminal networks diversify into illegal gold, generating an estimated US$918M in illicit exports —
rivaling cocaine as a source of criminal power.
• Bolivia: Elections expose fragile legitimacy for lithium and mining policy, tilting the political balance and raising
questions over social contract.
Africa
• Regional: Over 600 new mining projects highlight Africa’s growing role in the global minerals pipeline — but
also the need for stronger ESG and community frameworks.
• DRC: Critical mineral cooperatives remain under U.S. sanctions scrutiny, underscoring persistent governance
risks in the world’s leading cobalt supplier.
North America & Europe
• United States: Pentagon launches US$500M cobalt stockpile program, marking the first major initiative since
the 1990s and re-securitizing minerals policy.
• Germany & Canada: Launch deeper critical minerals cooperation, tying mining, processing, and recycling into
a long-term allied strategy.
• Norway: Sámi activists block the Nussir copper project, challenging the balance between energy transition goals
and Indigenous rights.
Global/Asia-Pacific
• China: Rare earth monopoly tightens, controlling up to 90% of global processing — reinforcing structural
vulnerabilities in supply chains.
• Ukraine: Moves ahead with lithium deposit tender in partnership with the U.S., embedding minerals policy into
geopolitics and regional security..
issue 19
Editorial Note for Issue #19
This week underscored a defining reality: the fate of billion-dollar mining and energy ventures is increasingly decided not by markets alone, but by legitimacy in the eyes of communities and governments. Peru illustrates the paradox, emerging as a top molybdenum and gold exporter while battling illicit flows and violent clashes in Pataz; South Africa signals renewal with Qala Shallows even as its industry carries the weight of decline, Zambia doubles down on copper with Kansanshi’s expansion, and Guinea’s expropriation of EGA’s bauxite mine shows how swiftly resource nationalism can erase years of investment.
Across continents, these flashpoints reveal a pattern: projects succeed or stall not on geology or financing alone, but on governance, social trust, and political alignment. Communities resisting illegal mining in the Amazon, Indigenous leaders fighting land transfers in the U.S., and African protest movements linking climate justice to finance are shaping the future of extractives as much as investors and ministers.
The lesson is clear: in 2025, Social License is no longer peripheral. It is the decisive battlefield where mining and energy transitions are being won or lost. Projects stand or fall on the trust they earn, the legitimacy they command, and the transparency they deliver. Legitimacy is not an add-on to investment strategy; it is the ground on which the future of extractives will be determined.
Latin America
Peru: FACT report reveals Peru accounts for 44% of Latin America’s illicit gold trade, fueling crime and weakening state legitimacy.
Peru: Gold exports surge 38.9% Jan–May 2025, with UAE, Canada, and India absorbing 63% of shipments, reinforcing dependence on volatile markets.
Peru: Operativo AWQA in Pataz ends in armed clashes, exposing how criminal groups tied to illegal mining undermine security and community trust.
Peru: Consolidates role as a Top 5 global molybdenum producer, highlighting strategic weight in the energy transition but raising environmental and governance challenges.
Africa
South Africa: Opening of Qala Shallows, the first underground gold mine in 15 years, offers renewal but underscores long-term industry decline.
South Africa: Harmony Gold’s $1B acquisition of MAC Copper signals diversification into critical minerals amid investor pressure.
Zambia: First Quantum commissions $1.25B Kansanshi S3 expansion, betting on global copper demand but heightening reliance on one sector.
Guinea: Government expropriates EGA’s bauxite mine, transferring assets to a state firm in a sharp move toward resource nationalism.
Mozambique: Altona Rare Earths seeks S. support for Monte Muambe project, highlighting global competition for rare earth supply chains.
North America & Europe
United States: Federal court blocks land transfer for Resolution Copper’s Oak Flat project, siding with Indigenous claims over sacred territory.
Ukraine/Hungary: Pipeline dispute escalates as Kyiv warns of Russian leverage on Central Europe’s energy flows, testing regional security.
Asia-Pacific
Australia: Queensland launches a renewables powerhouse strategy, positioning the state as a leader in the global energy transition.
Indonesia: Pushes forward with modular refinery projects tied to U.S. crude supply, reshaping Southeast Asian energy corridors.
issue 18
Editorial Note for Issue #18
This week confirmed a hard truth: the future of mining and energy projects is being decided less in corporate boardrooms and more in community assemblies and national parliaments. Social license pressures are intensifying globally. Peru accelerates copper while unrest grows, Ghana rewrites mining law to empower communities, and Canada’s First Nations delay lithium projects to demand deeper consultation. Across Latin America, Africa, and North America, communities are no longer passive stakeholders, they are active gatekeepers shaping the trajectory of billion-dollar investments.
The following flashpoints capture how LTO pressures are reshaping mining and energy projects worldwide.
Latin America
• Peru: Government accelerates $6B in copper project approvals; social unrest rises over exclusion of informal miners.
• Chile: Constitutional debates re-open copper royalty disputes, creating uncertainty for investors.
• Colombia: Ecopetrol to build Latin America’s largest green hydrogen plant, anchoring energy transition.
Africa
• Ghana: Mining law reform introduces shorter leases, medium-scale category, and mandatory community revenue sharing.
• DRC: Appointment of Mines Minister Louis Watum Kabamba; shift from export bans to quota-based system to support domestic refining.
• South Africa: Platinum belt protests reignite over service delivery failures, threatening project continuity.
• Zambia: Copper output dip highlights supply fragility, undermining ambitious growth targets.
• Uganda: Launch of first industrial gold mine and refinery marks shift from artisanal to industrial sector.
North America
• Canada: Yukon First Nations push for deeper consultation on new lithium projects, delaying approvals.
This past week underscored how fragile social license remains across diverse geographies. From Latin America to Sub-Saharan Africa, communities are not simply stakeholders on the margins, they are decisive actors shaping the pace and trajectory of billion-dollar projects. Governments are adjusting laws, investors are recalibrating timelines, and companies are being pressed to go beyond compliance and deliver tangible community value.
Three dynamics stand out:
1. Acceleration vs. grievances: The mismatch between rapid project approvals and unresolved local conflicts is widening, as seen in Peru where copper expansions collide with informal mining disputes.
2. Evolving resource nationalism: Governments are moving from blunt instruments like export bans to more nuanced approaches that promise community revenue sharing and domestic value addition, as in Ghana and the DRC.
3. Redefining legitimacy in advanced economies: Indigenous rights and constitutional debates continue to reshape what legitimacy means in resource development, as seen in Canada and Chile.
The lesson is consistent: without credible governance, transparency, and inclusion, every megaproject faces heightened risk of disruption. Building social license is no longer about one-off CSR projects; it requires embedding community benefit, cultural respect, and long-term commitments into the very core of investment strategies.
Taken together, these developments are not isolated incidents but part of a broader trend: resource politics are shifting from boardrooms to community assemblies and parliaments. What follows is a deeper dive into the week’s flashpoints, where the contest over social license is actively shaping the trajectory of billion-dollar investments.
