• Miguel Cardozo said that the copper production could double over the next eight years.
• Moreover, he estimated that attendance to the Mining Convention will exceed 66,000 participants.

“The mining sector accounts for 10% of the GDP. Supplying companies that work with us account for another 4%. We pay practically 20% of the taxes collected and benefit 1.6 million people with the creation of formal, well-paid employment,” stated Miguel Cardozo, President of PERUMIN 36, in an interview with TV Perú.

He recognized that economic growth is essential for bridging social gaps. This has been proven through mining investments, which helped bring the poverty rate down to 20% in 2019, although it has recently increased to 28% as a result of the pandemic and the inefficient management of financial resources.

“We believe that tax contributions coming from mining should be managed efficiently and transparently. Talking about transparency, the Comptroller's Office recently informed that PEN 24 billion are lost, and the truth of the matter is that with a third of that amount we could solve issues like basic healthcare,” he explained.

Regarding copper, the main export product of the mining industry, the also director of the Peruvian Institute of Mining Engineers said that production increased by 19.4% by May 2023, relative to the same period last year. This year, the price of copper is estimated to close this year at an average price of US$ 8,500 dollar per metric ton.

“We have minerals that are considered vital for global decarbonization, and copper is among them. Today its price is much higher than in past years. This offers an opportunity to increase production. We could even double our copper production in eight or ten years if we do things right,” he affirmed.

PERUMIN 36 Looking to Break the Record of 66,000 Attendees

On the other hand, Miguel Cardozo said that he expects PERUMIN 36 to break the record attendance of 66,000 visitors who registered for the previous edition. Participants will be able to enjoy the different official activities of the mining convention, such as the Mining Summit, the Mining Meeting, PERUMIN Hub, PERUMIN Inspira, the TIS Forum, and the EXTEMIN Fair.

“This important mining conclave will receive the most distinguished representatives of the three government branches, business leaders, academia, civil society, and international organizations. Among them will be the President of the Peruvian Central Reserve Bank (BCR), Julio Velarde; the Minister of Economy and Finance, Alex Contreras, and the Ministry of Energy and Mines, Oscar Vera, among other personalities from the public and private spheres,” he noted.

Furthermore, he highlighted that Canada will be the partner country for this edition of PERUMIN. This country has a long-standing mining tradition and has made great strides in terms of environmental regulation, enabling this industry to grow sustainably to the point of contributing almost $100 billion to its GDP and providing employment for 600,000 people.

“In this edition, we will have a segment called “Natural Resources of Canada”, led by a Canadian government agency that is concerned with the continuous, effective and sustainable growth of mining. This growth adds to the country’s economic development and ensures the security of its population and territory,” he concluded.