Peru Weighs Approval of $6 Billion Mining Projects Amid Political Turmoil

Peru is considering approval of 134 new mining projects valued at approximately $6 billion to boost economic growth and government revenues, as announced by President Dina Boluarte. The country, the world's third-largest copper producer, aims to formalize its informal mining sector, which has seen protests due to exclusion from formalization programs, and expects the small-scale formal miners to generate over $5 billion in annual sales by year-end. Construction on larger formal mining projects worth about $4.7 billion is anticipated to begin by 2026, promising increased jobs and export income. President Boluarte also highlighted a new private mining fund to improve financing access for small formal operators and announced collaboration with Ecuador to connect oilfields to Peru’s refinery infrastructure. Despite ongoing political challenges and social unrest, including investigations into protest-related deaths, the government is pushing forward with mining expansion as a key strategy for economic recovery and poverty reduction. These initiatives reflect Peru's strategy to balance economic development with social inclusion and environmental responsibility in its vital mining sector.