Peru falls in the 2022 Mining Competitiveness Index

Peru falls in the 2022 Mining Competitiveness Index

Within , Macroconsult and the Institute of Mining Engineers of Peru (IIMP) presented the 2022 Mining Competitiveness Index, which revealed that Peru ranks last out of seven countries in this ranking. In 2019 it was in the penultimate position.

Other countries on the list include Australia, Canada, South Africa, Chile, Mexico, and Colombia. This indicator compares Peru in five fundamental aspects, including geological potential, fiscal policy, infrastructure, regulation and social environment.

Peru’s setback is a consequence, among other things, of regulatory complexity, the number of procedures to obtain permits, and the relationships between mining operations and their environment.

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This situation has led investment in mineral exploration to migrate to countries with greater legal security. One factor that complicated Peru was the announcement made more than a year ago about a possible increase in mining taxes, which, although it did not materialize, generated uncertainty.

In statements to Peru21, the economist and partner of Macroconsult, Gonzalo Tamayo, stated that the drop in mining competitiveness reduces the attractiveness for investment and exploration. He indicated that the country has many administrative procedures, which makes the process of obtaining licenses and authorizations complex.

In the same way, he expressed that while formal mining has to face various deadlines, informal mining is not fought by the State, despite being a generator of pollution.


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