The Ministry of Energy and Mines of Peru expects to process EGIs for 41 mining exploration projects in 2023, potentially generating US$804 million in investments. Additionally, there is a projected investment of over US$1.039 billion in 2025, indicating substantial growth in the mining sector as reported by Minister Jorge Montero during the PDAC 2025 Convention.
The Ministry of Energy and Mines (Minem) of Peru anticipates processing Environmental Management Instruments (EGIs) for 41 mining exploration projects within the year, which is projected to generate investments totaling US$804 million.
In addition to this, Minem plans to handle preliminary consultations for 14 exploration projects and explore authorization requests for an additional 29 projects. Minister Jorge Montero reported that the development of the Mining Exploration Projects Portfolio is progressing positively, with an expected investment exceeding US$1.039 billion by 2025.
During the PDAC 2025 Convention in Toronto, Canada, Minister Montero noted that the 2025 Portfolio projects involve 84 initiatives, exceeding last year’s count by nine. The estimated investment figure for exploration in 2025 marks a 75% increase from the previous year. Last year, Peru’s mining sector registered 75 projects with cumulative investments of US$644 million, reflecting significant growth.
Montero also participated in the 10th International Summit of Mining Ministers, where he emphasized the importance of advancing geological studies and formalizing small-scale mining. He engaged in discussions with France’s Delegate for Strategic Mineral Supplies and other representatives regarding bilateral cooperation.
The minister also attended the symposium “A Capital Opportunity” with Economy-Finance Minister Jose Salardi, where he met with executives from mining companies listed on the Toronto Stock Exchange. He emphasized the companies’ interest in sustaining investments in Peru.
“The Government is making significant efforts to simplify bureaucracy and manage the social aspect more effectively (…) the mining industry’s growth in Peru is a joint effort between the public and private sectors, and it is the Government’s responsibility to improve the regulations to attract investments and close gaps,” concluded Minister Montero.
In summary, the Ministry of Energy and Mines of Peru is focused on enhancing the mining sector’s investment potential by processing Environmental Management Instruments for numerous projects. The anticipated increase in investments by 2025 reflects a positive trajectory for the sector, underlined by collaborative efforts between governmental and private entities. The government remains committed to simplifying regulations to foster growth in the mining industry.
Original Source: andina.pe
