• According to the Ministry of Energy and Mines, resources collected from mining in this northern region have decreased by S/. 74.6 million.
• In June alone, gold production in La Libertad fell by 9.9%.

Transfers from fiscal redistribution, mining royalties, and mining license fees (derecho de vigencia) were over S/. 273.2 million[1] by June 2023 in La Libertad region. This represents a 22% fall compared to the same period in 2022 (S/. 347.8 million)[2], according to the latest issue of the Mining Statistics Bulletin published by the Ministry of Energy and Mines (MINEM).

The bulletin also points out that, between January and June 2023, La Libertad recorded a gold production of 475,884 oz, representing a 3.4% decrease compared to 2022 (491,961 oz). Furthermore, in June, gold mining production totaled 80,385 oz, indicating a 9.9% drop in contrast to June 2022.

Miguel Cardozo, the president of PERUMIN 36, stated that La Libertad is the country's largest gold producer. Yet, in recent months, it has experienced a decline in production due to illegal mining, which is causing environmental damage and promoting criminal activities in the area. “This trend will continue,” warns the specialist, “if the issue is not promptly addressed.” 

There are seven major gold producers in the country, namely  Poderosa, Yanacocha, Horizonte, Retamas, Gold Fields, Shahuindo, and Ares, which collectively account for 45.2% of the country’s gold production. The remaining percentage is produced by small-scale and artisanal mining. However, illegal mining continues to expand in the highlands of La Libertad and the Amazon region, leading to violent situations that impede the development of large formal mining operations,” emphasized Cardozo, who urged national authorities to address this issue promptly .   

Gold Production

The Mining Statistics Bulleting published by MINEM explains that the accumulated national gold production for the first semester was 1,458,807 oz, marking a 2.6% drop from the same period in 2022 (1,501,607 oz).

“It is important to highlight that, according to official figures, this reduction is attributed to the decline in productivity observed at Minera Poderosa, owing to the persistent challenges faced by its operations. This situation has resulted in a 16.1% reduction in its production, accompanied by violent incidents, some of which have even led to fatal victims in the district of Pataz,” added Cardozo.

Minera Poderosa is the largest gold producer in the country. Nonetheless, the company has reported, through a letter to the Superintendence of the Securities Market, that its gold production fell by 60% in July compared to the production target set for that month in its program.

[1] Boletín Estadístico Minero Edición N°6 - 2023: https://cdn.www.gob.pe/uploads/document/file/4953859/BEM%2006-2023.pdf?v=1691513279

[2] Boletín Estadístico Minero Edición N°6 - 2022: https://cdn.www.gob.pe/uploads/document/file/3473633/BEM06-2022.pdf.pdf?v=1659758770