Peru to Speed Up Mining Licensing

Written by Amir Richani for Industrial Info Resources (Sugar Land, Texas)--The Peruvian Ministry of Mines and Energy issued a decree this month to allow companies to apply for environmental and water permits in mining exploration projects simultaneously.

The paperwork will be processed through the Ministry of Mines and Energy using the "Ventanilla Unica," known as VUM. This process aims to centralize, review and expedite permitting processes to reduce waiting time and remove roadblocks from mining exploration projects by presenting the required documentation directly to the ministry.

The VUM was approved in October, and it is expected to officially be announced soon, according to an article published by the Peruvian Institute of Mining Engineers.

Companies will deliver to the ministry the required documents for environmental and water permits. The documents will be reviewed in collaboration with the National Water Authority, and feedback will be provided simultaneously.

Also this week, the mining ministry said the new mechanisms to accelerate licensing processes, such as VUM, should help the country attract more investments and promote a more efficient mining sector.

"The national mining industry is on the right track. This year, a record in mining production will be achieved, a situation that has allowed greater confidence to be generated among investors who show their interest in continuing to work in our country," said Minister of Energy and Mines Oscar Vera.

According to the ministry, Peru has been able to unlock and accelerate eight major mining projects this year. Another two big projects are expected to be launched by 2026, which include the Galeno (currently listed as being on hold) and Michiquillay developments, accounti for $3.5 billion and $2.5 billion, respectively. Subscribers to Industrial Info's Global Market Intelligence (GMI) Metals & Minerals Project and Plant databases can click here for the related project reports and click here for the plant profiles.

"If true, this is welcome news as mining project activity in Peru has slowed in recent years as social and geopolitical issues have discouraged investment," said Joe Govreau, vice president of research for Metals & Minerals for Industrial Info. Industrial Info is tracking more than $47 billion worth of mining projects in Peru, about half of which is for grassroot mine developments while the rest is expansions, in-plant capital and maintenance of existing mines. Subscribers can click here for a list of detailed project reports.

In 2023, Peru has recovered from the social unrest experienced earlier this year that impacted operations at mines. The country has been able to maintain its production in an effort to retain its status as the world's second-largest copper producer.

According to the latest report by the ministry, between January and September, Peru produced 16% more copper, 0.3% more gold, 5.8% more zinc, 5.6% more lead, 16.8% more iron ore and 5.7% more molybdenum, compared to the same period in 2022.

When it comes to metallic mining, only silver and tin show a negative output, averaging -3.5% and -14.9% lower, compared to 2022.

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, IIR is tracking more than 200,000 current and future projects worth $17.8 Trillion (USD).