• The regions of Tumbes, Cajamarca, Piura, La Libertad, and Lambayeque together generate 10% more formal employment than the country’s average rate.

Lima, March 29, 2023. In spite of the 17% reduction in the northern macroregion’s mining and hydrocarbon GDP between 2019 and 2022, the region’s mining sector continues generating formal employment, even at higher rates than the national average. This was stated by Diego Macera, director of the Peruvian Institute of Economy (IPE) during the second session of Rumbo a PERUMIN “Northern Macroregion: Tumbes, Cajamarca, Piura, La Libertad, and Lambayeque – Competitiveness and Sustainability, A Task for All of Us.”

 “The decline in the northern macroregion’s GDP is due mainly to a reduction in the gold and copper extraction activities in Cajamarca, as a consequence of a lack of new projects. Yet mining in the north of Peru has created 15.3% new formal jobs, which contrasts with the national average of 5%,” noted Macera.

The economist underscored that the transfers as canon (fiscal redistribution) and royalties in that region of the country have reached their highest levels since 2014. “Between 2012 and 2022, $7.5 billion have been transferred, most of it to La Libertad, with 51%, and Cajamarca, with 48%,” he added.

On the other hand, the director of the IPE emphasized that, between 2012 and 2022, the regions of Cajamarca, La Libertad, Lambayeque, Piura, and Tumbes, as a whole, implemented 61% of the budget for public investment with funds coming from canon and royalties.

Finally, the economist highlighted that, to enhance the competitiveness of the regions discussed, we need to promote a favorable climate for investments. “It is important to note that we should also strengthen public management and have the right public-private articulation in order to keep generating development for the population,” he concluded.

Rumbo a PERUMIN

Rumbo a PERUMIN is an initiative of the Peruvian Institute of Mining Engineers (IIMP) and the Executive Committee of PERUMIN 36. It involves an agenda of virtual activities that seek to create spaces for analysis, knowledge and debate on mining.