Peruvian officials confident in country's mining industry

On Monday, Peruvian Minister of Energy and Mines, Rosa Ortiz, said that Peru holds a very unique place in the world in terms of its high mining potential and attractiveness for investment in the mining sector. According to Ortiz, the country has its strong economy, skilled labor force, and judicial stability to thank for its privileged position. The minister made these remarks during a presentation on the future of mining in Peru before a group of international mining investors at the Prospectors and Developers Association of Canada conference in Toronto.  She also highlighted that, at the end of last year, the Peruvian government approved new regulations to speed up and streamline the environmental permitting process.

Andina News Agency also reported that the Vice Minister of Energy and Mines, and ex-president of the Institute for Peruvian Mining Engineers (IIMP), Rómulo Mucho, attributed January’s growth in the Peruvian mining sector to investors’ improved expectations for the Peruvian economy in 2015. He added, “There is a sense of optimism in the sector thanks to good governmental decisions. During the previous year, there was a lack of confidence, but today it is reversed.”

Peruvian daily El Peruano reported on Minister Ortiz’s comments regarding the value of the pipeline of mining projects in Peru. She said that Peru has $64 billion worth of copper, gold, and silver mining projects in the pipeline, with which to attract investors. She did this to assuage concerns that the Peruvian mining sector, the engine of the country’s economy, might begin to slow down, due to lower metal and mineral prices.