Peru mulls green light for $6 bln in mining projects, president says
Boluarte said in an address to Congress that by the end of this year she expected the formal small-scale mining sector to generate more than $5 billion in annual sales, and that $4.7 billion in formal projects should have started construction by 2026.
Officials in Peru, the world's third-biggest copper producer, are currently in talks with informal miners who launched protests late June that blocked a key transport corridor for major miners including MMG (1208.HK), opens new tab and Glencore (GLEN.L), opens new tab.
Tensions escalated after over 50,000 informal miners were removed from a formalization scheme, leaving just 31,000 that the government is seeking to bring in line with regulations by the end of this year.
Boluarte said the government was working on starting a private mining fund that would give small formal miners access to better financing.
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