Wednesday, 22 May 2024
BusinessPeru hopes to produce three million tons of copper in 2024 and...

Peru hopes to produce three million tons of copper in 2024 and end illegal mining

The Peruvian Minister of Energy and Mines, Rómulo Mucho, stated this Friday that the Government expects the copper production record to be surpassed in 2024, which implies exceeding three million tons, and was optimistic about the portfolio of mining projects. that will see the light this year.

“Perhaps our most ambitious goal this year is to reach the three million tons of copper (…) it’s a enormous challenge for the Ministry and all levels of the State,” said Mucho in a press conference for the Foreign Press Association of Peru (APEP).

The minister presented the portfolio of mining investment projects for 2024, composed of 51 initiatives with an investment of 54,556 million dollarsa figure that represents an increase of 2.7%, compared to what was recorded in the July 2023 update.

On the other hand, Mucho confirmed that the Formalization of workers is the way to eradicate illegal mining and everything that this entails in their country, which is why they are working on the preparation of censuses and on a new law.

“Illegal mining is a very complicated and complex issue (…) A new law is urgently needed that brings together and tries to create a State that helps (formalization), because we must recognize that many people do not mind formalizing,” said the minister before adding that they are working together with the Energy and Mines Commission of Congress on this issue “because it also concerns them.”

During a press conference with foreign correspondents in Peru, Mucho said that The percentage of illegal activity in gold extraction was 20% in recent years, but due to the increase in the price of this precious metal, that rate has grown up to 40%.

Regarding gold extraction, he indicated that The country produces 100 tons annually approximately and illegal mining about 40, mainly in the south of the country.

He explained that illegal miners have practices that they do not respect the environment, they raid formal sites and battles between the gangs cause deaths. According to his estimates, he added, there are more than half a million illegal miners in the country.

For his part, the Vice Minister of Mines, Henry Luna, explained that the number reaches more than a million people, since on the one hand there are the workers who are dedicated to the extraction of the mineral resource, but there are also those who process the resource and families living in illegal deposit settlements.

This has led the ministry to promote mechanisms to promote formality and pursue illegals, such as a mobile device that allows the authorities to know immediately if the people who transport minerals are in the process of regularizing themselves or not, in order to be able to sanction them.

About the state oil company Petroperuthe minister commented that he has experienced a deterioration in his governance in recent years, which is why he considered that his portfolio will have “hard work” to recover its profitability. He added that, for this reason, the Government approved an emergency decree two weeks ago that proposed the organization of a new board, among other measures.

“The new board has the sacred mission of restructuring the company,” he said, adding that they must locate where the company money flow problems and that the new Talara refinery should begin to make profits and help the company’s results to be positive in the near future.


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