A 9.8% growth in mining investment boosts the economy and employment in the country.

Mining investment in the country has shown a notable growth of 9.8% between January and July of this year, reaching a total of US$2,512 million, according to figures reported by the Ministry of Energy and Mines (Minem). This increase reflects a dynamism in the sector, which is key to the national economy, in a context where many industries face significant challenges due to global instability.

In July, for example, disbursements in the mining sector amounted to US$392 million, representing an increase of 8.7% compared to the same month of the previous year. These figures are encouraging and suggest that investment in mining is regaining momentum after a period of uncertainty and adjustments in economic policy that generated doubts among investors.

The companies that led investment in July were Compañía Minera Antamina S.A., Anglo American Quellaveco, Minera Las Bambas, and Sociedad Minera Cerro Verde S.A.A. These mining giants have shown a commitment to continue investing in the country, despite the ups and downs that have affected the industry in recent years. Their active participation is essential to strengthen the regional economy and generate employment.

Regarding the geographical distribution of investment, the Moquegua region ranks first, with disbursements exceeding US$406 million, accounting for 16.2% of the total mining investment in the country. This figure highlights the importance of Moquegua as a mining development hub, attracting investments that benefit not only the companies but also the local community through job opportunities and economic development.

Áncash and Arequipa occupy the second and third places in terms of investment, with 13.2% and 11.1%, respectively. These regions have managed to leverage their natural resources and have created a favorable environment for investment. Competitiveness in these areas is a crucial factor that can influence companies' decisions on where to deploy their resources.

The positive impact of mining investment is also reflected in employment. During this period, the mining sector reported a total of 235,193 workers, indicating a slight increase of 0.3% compared to the previous month. This is the highest figure recorded so far in 2024, showing that growth in investment is correlated with an increase in job creation, which is vital for the population.

However, it is important to consider the challenges the sector faces. Despite the growth in investment and employment, mining in the country has also been subject to controversy, especially regarding its environmental and social impact. Local communities have expressed concerns about resource exploitation and its effects on the environment, leading to calls for more open dialogue between mining companies and residents.

For this positive dynamic of investment and employment growth to continue, it is essential for companies and the government to work together on the implementation of sustainable policies that prioritize environmental protection while fostering investments. Creating a clear and fair regulatory framework can also help attract more investments to the sector.

In summary, mining investment has shown solid performance in the first seven months of this year, indicating the sector's potential to contribute to the country's economic development. As companies remain committed to their projects, it will be crucial to continue monitoring the impact of these investments on local communities and the environment, ensuring a sustainable future for all involved.