• Without the development of the mining industry in the region, the poverty rate would currently be 43%, according to the study presented at the decentralized Rumbo a PERUMIN event.
• By 2031, the population benefited from mining, through the generation of employment, will grow by 51%, benefiting more than 979,000 people.

The execution of new mining projects in the Ancash region (with a portfolio valued at more than US$ 1.2 billion) will reduce the poverty rate to 9.7% by 2031. This is a reduction of more than 15 percentage points compared to the current poverty rate in the region, which stands at 25.5%.

This is according to figures from the "Benefits generated by mining in the Ancash region" study, prepared by the Center for Competitiveness and Development (CCD) in alliance with the Peruvian Institute of Mining Engineers (IIMP). The study also indicates that, without the development of the mining industry in the region, the poverty rate would currently be 43%; and without the execution of the mining projects in the pipeline in the coming years, poverty would reach a rate of 27% by 2031.

"Mining will definitely play an essential role in the development of the region and the well-being of its people. We need to join efforts, both private companies and national and regional authorities, so that this mining growth has an increasing impact for the benefit of all Peruvians", stated Miguel Cardozo, president of Rumbo a PERUMIN.

Employment generation

The study also indicates that the execution of the mining project portfolio will allow the population benefited by mining, through the generation of employment, to grow by 51%.

It is estimated that the industry will benefit more than 979,000 people in the region. This will be achieved through 245,000 direct and indirect jobs and 734,000 beneficiary families (734,000 people).

Currently, 43% of the population of the Ancash region (540,000 people) benefits from the development of the mining industry through the generation of employment.

The analysis, presented during the decentralized Rumbo a PERUMIN event, named "Territorial development and mining in Ancash", specifies that the mining investment portfolio in the region is made up of the Magistral (US$ 490 million), Pachapaqui Expansion (US$ 117 million), San Luis (US$ 90 million) and Hilarion (US$ 585 million) projects.