Peru's Government Seeks to Approve Mining Projects, Add Power Generation

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Written by Amir Richani for IIR News Intelligence (Sugar Land, Texas)

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Summary

Fujimori's new government expects to authorize 240 mining projects involving exploration, exploitation, and beneficiation concessions in 2026 to speed up mining developments. The mining portfolio/investments could exceed US$33 billion by 2031, while just more than 1 GW of new power generation capacity is expected by July 2027.

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Government's Plan

Peru's Prime Minister, Luis Galarreta, told the Peruvian Congress that Keiko Fujimori's government expects to authorize 240 mining projects in 2026, while six power generation projects are expected to enter operation by July 2027 and add more than 1 gigawatt (GW) of new power generation capacity.

Galarreta outlined five priority pillars for the government, including increasing Peru's productivity and employment, and promoting economic development. He also said the government expects to authorize 240 projects for mining exploration, exploitation, and beneficiation concessions by year-end.

The government forecasts that mining investments will exceed US$33 billion by 2031.

In 2025, Peru recorded mining investments of US$6.23 billion, a 24.3% increase compared to the US$5.01 billion recorded in 2024.

Galarreta did not identify the individual projects or commodities covered by the authorizations, but copper dominates Peru's mining investment portfolio.

"But we must be clear: the private sector decides on and executes the investment. The government's responsibility is to generate legal certainty, predictable procedures, and timely decisions," Galarreta said.

Industrial Info Resources data show more than 780 mining-related projects in Peru amounting to investments of almost US$50 billion. Of those, 296 pertain to copper mining with projected investments surpassing US$30 billion.

Despite being the world's third-largest copper producer, Peru also has a significant number of greenfield copper projects that could allow the country to expand its mining footprint further.

Industrial Info Resources monitors 86 greenfield copper projects representing investments of US$13 billion, including projects such as Tia Maria, Los Calatos, Zafranal, Michiquillay, and more.

Peru also has significant projects for gold, iron ore, and lithium. According to the Ministry of Energy and Mines, Peru has a mining portfolio of 66 projects across different stages of development--involving different commodities--representing total investments of US$64 billion. Of those, 35 are copper projects representing US$45.40 billion or 71% of the portfolio's total forecasted investment.

Fujimori, during her inaugural speech, pledged to reduce unnecessary regulation and bureaucratic burdens impacting investments, while promising greater stability and legal certainty. The goal of authorizing these 240 projects in 2026 represents one of the government's first steps towards that agenda.

More Mining, More Power

In line with faster mining permitting, Galarreta said six power generation projects are expected to begin operation by July 2027, adding 1,096 megawatts of new installed capacity to help meet growing electricity demand from industry, commerce, and from the regions. These additions would be complemented by the development of power transmission projects.

Across small, medium, and large-scale renewable energy projects, Industrial Info Resources tracks/records 285 projects in Peru, representing almost US$39 billion in investments. However, the vast majority remain under a low probability of being completed.

Key Takeaways

• Peru's government seeks to authorize 240 mining projects involving exporation, exploitation, and beneficiation concessions in 2026.
• The government forecasts that mining investments could exceed US$33 billion by 2031.
• An additional 1,096 MW of power generation is expected to come online by July 2027.

About Industrial Info Resources
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, Industrial Info Resources is tracking over 250,000 current and future projects worth $30.2 Trillion (USD).