Peru's Mining Engineers Association President Calls for Restart of $60 Billion Mining Projects

en.Wedoany.com Reported - Juan Carlos Ortiz, President of the Peruvian Institute of Mining Engineers (IIMP), stated that the main challenge for the next government is to drive the restart of the stalled portfolio of mining projects and create the necessary conditions for new investments to materialize into actual works. Ortiz pointed out that the state needs to play a more active role in accelerating approval processes, providing stability for investors, and ensuring that commitments to communities are fulfilled.

The IIMP representative recalled that Peru has mining projects valued at over $60 billion, but approval delays and political instability have weakened the country's competitiveness compared to other investment destinations. In an interview with a national radio station, Ortiz emphasized that Peru must improve approval efficiency, maintain political stability, and assure investors of the safety of their asset investments, which can span 30 to 50 years, while leveraging existing technologies to achieve clean production as much as possible.

Regarding specific pathways to enhance competitiveness, Ortiz stated that this does not mean relaxing environmental requirements, but rather optimizing public administration. He believes that approval management should be made more efficient without compromising the quality of evaluations, for example, by reducing approval times from four years to two years, matching the levels of other countries worldwide.

Ortiz also noted that another key factor in promoting new investments is strengthening the state's presence in areas where mining projects are located. He advocated for the government to play a long-term role in ensuring that commitments to communities are fulfilled. The state needs to continuously participate as a coordinator in dialogue throughout the entire lifecycle of operations, not only to address immediate issues of obtaining social license but also to reassure the public that promises made by mining companies will translate into improvements in local living conditions.