Peru Targets $33 Billion in Mining Investments Under Fujimori

Peru's new administration, led by President Keiko Fujimori, is projecting at least $33 billion in mining investments over its five-year term. Prime Minister Luis Galarreta presented the target to Congress on Thursday, outlining a strategy to accelerate project approvals in the world's major copper-producing nation.

Galarreta stated that the government plans to authorize 240 exploration and extraction projects this year. The investment drive will be led by private companies, with the state's role focused on providing legal certainty, predictable permitting processes, and timely decision-making.

Officials say the emphasis will be on reducing delays and eliminating overlapping procedures, without compromising environmental or social standards. The mining push is part of a broader effort to encourage responsible investment and improve the execution of major projects.

On trade policy, Galarreta affirmed that Peru will maintain open markets as a state policy. The government will also work this year on a free-trade agreement with Hong Kong, which was signed in Lima in 2024 but has not yet taken effect. Peru is also pursuing new agreements and promoting regional exports.

The longer-term goal, according to Galarreta, is to strengthen Peru's role as a hub for trade, investment, and services connecting South America with the Asia-Pacific region.