The management of the mining canon in Peru: key to local and sustainable development.

The discussion about the management of the mining canon in Peru has gained relevance, especially following the statements made by the economist from Macroconsult, who emphasized the need for the Ministry of Economy and Finance (MEF) to support mining districts in improving the management of the resources they receive. During his speech at an event organized by the Institute of Mining Engineers of Peru (IIMP), it was stressed that local authorities must learn to maximize the use of these significant economic inflows. Cuba, the specialist who led the comments, highlighted that the arrival of mining in a community can be a true paradigm shift. "A mine, in reality, is like winning the lottery. If that mine is located in your district or province, it’s an endless party," he stated, emphasizing that local authorities often see an unprecedented increase in their revenues. However, the challenge many of these communities face is how to manage and spend these resources properly. The specific cases of San Marcos in Áncash, where Antamina operates, and Yarabamba in Arequipa, home to Cerro Verde, were mentioned as paradigmatic examples. According to Cuba, these municipalities would never have had access to such large amounts of resources without the presence of these mining companies. "Now whether they spend it well or poorly is another story," he reflected, highlighting that the responsibility for management lies with local authorities. In this context, the economist called for a more active commitment from the MEF in training and supporting mining districts. "You can’t leave them alone in the name of decentralization," he warned, pointing out that the ministry has a crucial role in implementing projects that ensure the canon is invested in critical areas such as education, health, and human capital development. "The idea is for people to internalize that a mine is synonymous with well-being," he added. Moreover, the proposal for the proper use of the canon extends to initiatives that directly impact the lives of communities. Cuba suggested that resources could be used to improve children's education, as well as to offer scholarships for young people to study abroad. "That path is long and not yet taken. We Peruvians must demand this from the authorities," he urged. From this perspective, mining not only generates income but also has the potential to stabilize the national economy. Cuba highlighted that mining projects are fundamental for the Peruvian economy in two crucial aspects: the stability of the dollar and the strengthening of fiscal accounts. "When Peru exports raw materials from metallic mining, it manufactures dollars, which stabilizes our economy," he explained. Additionally, by opening up to foreign trade and increasing exports, the mining sector strengthens Peru's position in the global market, which in turn benefits the local economy. "A mining operation is very powerful because it leads to more exports, strengthens the external world, and helps stabilize the dollar," Cuba emphasized, underscoring the importance of the tax revenue generated by this sector. However, the lack of a political class proposing long-term plans could hinder the sustainable development of mining districts. This becomes evident in the context of illegal mining and the urgent need to find effective solutions to this problem, which severely affects many communities. The opinions of experts like Cuba are crucial at a time when mining faces challenges both in its sustainability and in public perception. If the recommendations to improve the management of the canon and ensure that benefits reach the communities are successfully implemented, the sector could become a true engine of development in Peru, transforming not only the economy but also the quality of life for millions of Peruvians who largely depend on this activity.