MEM: “We aim at creating suitable conditions 
to develop the mining sector”

Peru focuses on keep promoting mining investments and that is why projects development is a priority - stated the vice minister of Mines of the Ministry for Energy and Mines (MEM), Ricardo Labó Fossa. He also noted that at PERUMIN 33 Mining Convention to be held in Arequipa, direct contact will be possible with investors bearing in mind the recovery of trust in the country to develop more mining projects.

What are the expectations of the MEM participation in PERUMIN 33 Mining Convention?

As every year, the MEM will have a very active participation in PERUMIN, since it is a very important opportunity to meet and dialogue. For us, the Government, it is useful to show our objectives, goals and strategies followed to promote investment in the country; and to have a direct contact with investors, which is very important.

On one hand, there are new investors that attend PERUMIN to build trust. And on the other, those already operating in the country and attending the event to reassert and strengthen such trust. Therefore, to have one-on-one meetings with investors a high-level participation will occur, including the President of the Republic, the Ministry for Energy and Mines and others. In addition, as Ministry we will also have many presentations on different topics that are on the sector agenda.

What are the progress that the MEM has achieved in the first year of the new government?

We have very clear objectives and goals. We are resuming a much more direct and dynamic contact with investors. Thus, we are accompanying the development of projects because mining investment in Peru is 100% private. We need to work hand in hand and get more involved.

We are working to eliminate any administrative and bureaucratic obstacles that may exist in the road and not delay the development of projects. It is of interest of the Government and the public that the sooner these projects are developed the higher economic impact and larger short-term benefits will be seen.

So, we are getting deep knowledge about the projects schedules, which are the critical routes and identifying, together with the mining companies, what could stop or put any project at risk.

We are also proactively reviewing the current regulations to find a way to improve it and connect it to the reality of current mining. In addition, we are simplifying the bureaucratic processes so they do not take that long. And we are coordinating with other sectors to create the socio-political conditions that will facilitate the development of mining projects.

During the last few years, investment in exploration has decreased. Would the measures given by the current Government have reactivated the sector?

On one hand, we can see the renewal of trust in the sector and, on the other, the Regulations - Environmental protection for mining exploration - will speed up and make real one of the most important permits to develop explorations. We believe that this will increase the number of files submitted to the MEM announcing or requesting authorization to carry out exploration activities.

What are the future challenges for the MEM?

One of the challenges is to keep reviewing the regulations and to implement legislation more in agreement to the reality of the mining activity. Also, to keep improving administrative processes, to keep supporting companies and to work with other sectors to create the most suitable conditions so projects are developed.

Finally, which message would you give to the participants of PERUMIN 33 Mining Convention?

The most important message is to take advantage of this meeting opportunity to hold dialogues that will contribute to the mining development and, above all, that we all work together to transform our richness and to help the activity with greater development.