Peru's IIMP President: Mining Accounts for 11% of GDP, Calls for Seizing Historical Opportunity

en.Wedoany.com Reported - Juan Carlos Ortiz, President of the Peruvian Institute of Mining Engineers (IIMP), stated that driven by the global energy transition and electrification process, Peru is facing a historic opportunity to consolidate its position as a major supplier of strategic minerals to the world.

Ortiz called for responsible decision-making to transform the current situation into momentum for sustainable development, creating well-being for the Peruvian people. He pointed out that mining remains a core pillar of Peru's economy, accounting for approximately 11% of the Gross Domestic Product (GDP) and contributing nearly 67% of the country's total exports.

In his latest column in "Semáforo Minero," Ortiz wrote that Peru maintains a leading position in global production of copper, zinc, silver, gold, and molybdenum—minerals that are crucial to meeting the growing global demand driven by the energy transition.

The IIMP President emphasized that the mere existence of mineral resources does not guarantee development. The real challenge lies in creating the necessary conditions to transform this potential into investment, employment, infrastructure development, and a driving force for narrowing social gaps.

Ortiz warned that amid growing global demand for minerals, Peru must maintain its competitiveness relative to other mining jurisdictions seeking to attract capital and investment. He believes that any proposals related to tax reforms, regulatory adjustments, or new burdens on the industry should be evaluated based on rigorous technical assessments and a long-term vision. Peru should not send signals that weaken its competitiveness at this time.

He stated that domestic debate should focus on accelerating the distribution of mining dividends to benefit the people, strengthening public administration, narrowing social gaps, and building higher levels of trust among the state, companies, and communities. Ortiz concluded that the IIMP will continue to promote technical discussions on the future of the industry, noting that the challenge is no longer discovering minerals, but utilizing the opportunities the world is offering with responsibility and foresight.

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