Switzerland Offers Competitive Financing Fund for Artisanal Gold Mining in Peru

Peru and Switzerland have formalized their commitment to fostering more responsible and inclusive artisanal and small-scale gold mining through a signed Memorandum of Understanding.

Peruvian Minister of Energy and Mines, Waldir Ayasta, and representatives from the Swiss Confederation inked the agreement, officially bringing Peru into the Swiss Program for the Promotion of Artisanal and Small-Scale Gold Mining. This global initiative by the Swiss Agency for Development and Cooperation (SDC) seeks to bolster the responsible gold value chain.

The program, set to run until 2028, comprises three key components. The first is a competitive financing fund, or "Challenge Fund," designed to co-finance innovative solutions that enhance environmental, social, and governance performance in artisanal mining. Selected projects will receive funding from the SDC, with a mandatory 25% co-financing from the private sector.

Minister Ayasta highlighted Switzerland's extensive experience in the mining sector and expressed confidence that its support will boost Peru's efficiency and competitiveness in small-scale mining, ensuring adherence to modern and sustainable standards. Swiss Ambassador to Peru, Paul Garnier, affirmed Switzerland's dedication to developing responsible and sustainable gold value chains.

The program's broader objectives include generating formalization opportunities, improving traceability, and facilitating access to responsible markets for artisanal miners in Peru. Additionally, it focuses on political dialogue to foster collaboration between national and regional governments and other sector stakeholders, with a particular emphasis on traceability and incentives for responsible mining. The third component involves knowledge management, including the generation and dissemination of best practices, case studies, and participation in international forums.