Peru must take advantage of the current cycle of high prices for commodities to promote new mining projects in the country, due to the growing global demand for the development of “green infrastructure” that international markets appreciate today, said the global head of thematic and sectoral investment of BlackRock, Evy Hambro, in the dialogue “The Investors’ Vision” of the 14th International Gold, Silver and Copper Symposium of the SNMPE.
The expert said that, although China’s demand represents around 50% of the total, countries in Europe and the United States are also accelerating the consumption of clean energy based on the production of copper for the manufacture of electric vehicles and solar panels, which drives the price of the “red metal” with a firm change in trend towards the decarbonization of the world economy and lower consumption of fossil fuels.
“The rise in commodity prices is due to demand. Today the growth is much more balanced compared to previous years and in the future we see a copper market that needs to grow, this puts Peru in front of a great opportunity”, said Evy Hambro, during her participation in the dialogue she held with the former Minister of Economy, Alonso Segura.
However, he said that the execution of new mining projects requires more time to mature, considering the high need for economic resources that investors evaluate compared to previous cycles.
Regarding the gold market, Evy Hambro stated that this precious metal maintains its purchasing power over time; while silver represents a dynamic industrial commodity that generates investment opportunities.
For his part, former Minister Segura agreed that the outlook for metal prices is very good in the short, medium and long term as a result of structural factors in the price of gold, silver and copper, a situation that benefits the country by the important generation of foreign currency to the national economy.
“It is important that public policies are friendly to mining projects that use clean technologies and that are socially responsible so that they can move forward. It is a task that we have pending”, pointed out.
He assured that public policies do not respond to the promotion of investment execution and a better use of the mining canon is required in mining areas so that there is less conflict and the projects in the portfolio become a reality.
“Peru is losing a very valuable opportunity with spectacular mineral prices, the conditions are right for our country to extract this wealth from the land for the benefit of all Peruvians and particularly in the areas of influence”he emphasized.
