Wedoany.com Report-Jul. 29, On July 28, 2025, during her Independence Day address to Congress, President Dina Boluarte announced that Peru is reviewing 134 mining exploration and exploitation projects, representing a potential $6 billion in investments. The initiative aims to increase revenue from the mining sector, a key contributor to the economy of Peru, the world’s third-largest copper producer.
Peru's President Dina Boluarte arrives at Congress to deliver her annual and last address to the nation, in Lima, Peru July 28, 2025.
The government is engaging with informal miners who protested in late June, disrupting a transport corridor used by major companies, including MMG and Glencore. The miners have temporarily halted their protests and road blockades to allow discussions on a proposed law to regulate the sector. Tensions rose after over 50,000 informal miners were excluded from a formalization program, leaving 31,000 miners the government seeks to regulate by the end of 2025. Boluarte also highlighted efforts to establish a private mining fund to provide small-scale formal miners with improved access to financing.
During the address, police used tear gas to manage hundreds of protesters marching toward Congress, some carrying cardboard coffins to symbolize lives lost in earlier unrest during Boluarte’s term. Public sentiment remains challenging, with recent polls showing her approval ratings between 2% and 4%.
In addition to mining, Boluarte revealed an agreement with Ecuador’s state-owned Petroecuador to link its oil fields to a Peruvian pipeline, enabling transport to the Talara refinery. This collaboration aims to strengthen regional energy ties.
Despite economic recovery from a recession caused by earlier unrest, poverty levels in Peru hover around 30%. Boluarte, who assumed office in December 2022 after her predecessor’s removal, faces ongoing scrutiny, including an investigation into protest-related deaths, which she denies responsibility for. Her administration also faced criticism in July 2025 for approving a salary increase for her cabinet.
Protester Milagros Sanchez, a public school teacher, expressed frustration, stating: "The icing on the cake is raising their salaries and colluding with those with power to keep plundering the country’s natural resources." Political instability has persisted in Peru, with six presidents since 2018. The next general election is set for April 2026.
