Peru Weighs $6 Billion in Mining Permits, Eyes Fund for Small Miners

Peruvian President Dina Boluarte said her administration is reviewing 134 exploration and exploitation permits that could unlock about $6 billion in investment, underlining the government’s push to revitalise the mining sector. Boluarte told Congress that projects worth $4.7 billion should break ground by 2026. She added that the government aims to create a private mining fund to expand financing for small formal miners, forecasting that the formal artisanal segment could generate more than $5 billion in sales by the end of 2025. The announcement comes as Peru, the world’s third-largest copper producer, tries to quell tensions with informal miners whose June protests disrupted a key transport corridor used by MMG and Glencore. Authorities hope to bring 31,000 miners into compliance with regulations by year-end to stabilise the industry and shore up fiscal revenues.