Peru mining investments could reach $40 billion in five years

Peru's mining sector is poised for substantial growth, with potential investments reaching $40 billion over the next five years, according to Guillermo Shinno, the Minister of Energy and Mines. This figure represents a significant portion of the country's total estimated mining project portfolio, valued at $64 billion. Shinno expressed confidence that several projects could see major advancements and even commence operations within the current government's five-year term.

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We are sure that, in the next five years, we will be able to achieve an advance of 40 billion dollars.

Minister Shinno highlighted the government's commitment to ensuring the progress of mining and energy projects, stressing that true sustainability requires addressing essential services like energy, water, health, and education in local communities. He advocated for a modern and environmentally responsible mining industry that prioritizes social efficiency. "The true wealth is measured in the well-being, social peace, and human development of the populations living in the territories where these resources are found," Shinno stated.

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There will be no sustainability possible while there are places without energy, without water, without health, without education and among other essential services.

To foster better relations and ensure tangible benefits reach local populations, Shinno indicated a shift towards a proactive territorial governance model, moving away from the previous reactive approach to social conflicts. He also underscored the critical need to eradicate illegal mining, particularly gold extraction in the Amazon and Andes regions, which severely damages ecosystems and infringes upon the rights of indigenous and peasant communities. Provinces like Pataz remain under a state of emergency to combat illegal mining operations often linked to organized crime.

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The true wealth is measured in the well-being, social peace, and human development of the populations living in the territories where these resources are found.