Can Fujimori Turn Peru's Mining Potential Into Economic Growth?

---

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

---

Summary

Keiko Fujimori enters office with a market-oriented agenda aimed at attracting private investment and accelerating mining and infrastructure projects. Her central challenge will be turning Peru's mineral wealth and investment pipeline into tangible economic benefits, while maintaining political stability.

---

A Narrow Victory

Keiko Fujimori, daughter of former President Alberto Fujimori, was sworn in as Peru's president after narrowly winning the June runoff with 50.135% of the vote, a margin of 50,000 votes. Fujimori became Peru's ninth president to take office in 10 years, a period marked by removals, resignations, criminal investigations and protests.

Fujimori came to power promoting a market-oriented agenda aimed at attracting private investment, strengthening legal certainty, and expanding economic activity across Peru. Her key challenge is to turn that agenda into concrete results in mining and infrastructure, while navigating a complicated political and legislative environment and avoiding removal from power like several predecessors.

A Complicated Congress

The two houses of the Peruvian Congress are fragmented, affecting Fujimori's capacity to govern. The president's party, Fuerza Popular, has the largest bloc in both houses, with 22 of the Senate's 60 seats and 41 of the Chamber of Deputies' 130 seats.

Nevertheless, if Fuerza Popular maintains its alliance with Renovación Popular, their combined representation would give Fujimori half of the votes in the Senate and only 56 of the votes in the Lower House, restricting her capacity to pass legislation surrounding fiscal policy, faster permitting, and unlocking investments.

However, Fujimori's alliance guarantees her enough votes to block a presidential-vacancy motion, which requires two-thirds support in both the Chamber of Deputies and the Senate.

Economic Growth

Despite a decade of political turmoil, Peru has remained one of Latin America's more resilient economies. For this year, the International Monetary Fund has forecasted a 2.8% GDP growth. The outlook is supported in part by high copper and gold prices, which could strengthen Peru's exports, investment and government revenues.

Fujimori has pledged to maintain the Central Bank's independence and reduce the fiscal deficit during her mandate. Her government plan includes reducing permitting times for investment projects by at least 40%, eliminating redundant administrative procedures, and setting deadlines for sectoral authorizations.

These measures are set to benefit industries such as mining; support infrastructure projects that face lengthy permitting processes; and attract between US$5 billion and US$7 billion in investments to Peru, based on Fujimori's expectations. However, faster approval times will have limited impact if they are faced with unresolved disputes with surrounding communities, unrest, and coordination problems between government agencies.

Fujimori's biggest challenge will be maintaining political stability and predictable legal frameworks after years of presidential turnover and social unrest, which have weakened investor confidence.

Mining

Mining is likely to be one of the industries most affected by Fujimori's government and one of her building blocks for economic success. She has proposed a fast-track process for strategic projects; tax incentives for companies that reinvest profits; and the distribution of mining royalties to communities surrounding operations.

Industrial Info Resources is tracking more than 650 mining-related projects across Peru, totaling about US$50 billion of investment value. Industrial Info Resources offers more information on these projects in its Global Market Intelligence (GMI) Metals & Minerals Project Database, where readers can find details--including construction schedules, investment values and necessary equipment--in a full list of project reports.

Peru is the world's third-largest copper producer, behind Chile and the Democratic Republic of Congo, producing 2.769 million tonnes of copper in 2025. Copper exports accounted for US$28.92 billion in 2025, a 23% year-on-year increase driven by high commodity prices.

In terms of projects, Peru also has one of the world's largest copper project pipelines. According to Industrial Info Resources data, 296 projects totaling more than US$30 billion of related investment can be found within Peru; more importantly, the South American nation has about 85 of grassroot copper projects, amounting to more than US$13 billion.

Fujimori vowed to promote international investment in the nation's mining industry and fight illegal mining mafias.

These early-stage projects could support future copper production if they advance through exploration, permitting, financing and construction. However, they also are the most exposed to regulatory delays, instability and local opposition.

Peru is also a key gold producer, with output of 106.64 tonnes and exports worth US$23.31 billion reported in 2025. The sharp increase in export earnings was driven largely by higher international gold prices, a situation that Fujimori can now take advantage of in her new government.

At the same time, high commodity prices, especially for gold, have encouraged the expansion of illegal gold mining. The industry's security challenge was evidenced in Pataz in May 2025, when 13 mine workers were kidnapped and killed by illegal miners. The incident hilighted the links between illegal mining and organized criminal groups, as well as the vulnerability of formal mining operations.

Fujimori has promised to combat illegal mining organizations by strengthening the role of the police and utilizing the Peruvian armed forces when required.

Peru's mineral wealth gives Fujimori an opportunity to strengthen exports, attract investment and support economic growth. Her central test will be whether project development and investment can advance alongside connectivity, reduced illegal mining, lower criminality around mining operations, resource redistribution, and ease social conflict.

Key Takeaways

• Fujimori's congressional alliance could protect her from removal, but she will still need additional support from opposition parties to pass key policies.
• Peru's copper and gold production and substantial project pipeline offer significant opportunities under Fujimori's pro-investment agenda.
• Faster permitting alone will not unlock investment, unless the government addresses illegal mining, infrastructure limitations and community conflicts.

---

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 verified plant and project opportunities. Across the world, Industrial Info Resources is tracking over 250,000 current and future projects worth $30.2 trillion (USD).