By the end of 2023, copper production in the region increased by approximately 13%, contributing an additional 1.2 percentage points to the GDP.

Rumbo a PERUMIN: "Development and Regional Competitiveness in Cusco," organized by PERUMIN 37 and the Peruvian Institute of Mining Engineers (IIMP), was a great success in the Imperial City, highlighting its key role in the national mining sector. The event brought together experts and authorities who analyzed the impact of mining on the region, as well as its contribution to the country’s economic and social development.

During the event, Diana Alcalde, senior advisor to the vice ministry of Mines, reiterated that the mining investment portfolio consists of 51 projects totaling US$ 54.56 billion, including 31 copper projects, eight zinc projects, five gold projects, and seven projects for other minerals, spread across 18 departments.

She said that in Cusco, there are two investment projects amounting to a total of US$ 2.79 billion: Integración Coroccohuayco (US$ 1.5 billion) and Quechua (US$ 1.29 billion). In addition, there is a portfolio of three mining exploration projects totaling US$ 27.7 million (María Reyna, Japeroide, Crespo II).

“Copper will consolidate as the most important mineral in the future, which underscores the need to promote more projects in this area. Peru is the second-largest copper producer in the world, a key activity for generating employment, tax revenues, and foreign exchange. Currently, we have 31 projects in 14 departments, representing an investment of US$ 39.7 million,” Alcalde stated during her participation.

Elmer Huamán, project manager at the Center for Competitiveness and Development, emphasized that mining is one of the main drivers of the Peruvian economy, creating jobs and significantly contributing to the GDP. He highlighted that in the Cusco region, 28% of the population benefits from the direct and indirect employment created by mining projects.

Huamán also emphasized that, on a social level, the resources generated by mining, such as mining royalties and taxes (canon minero), have the potential to improve the living conditions of communities near mining projects. By the end of 2023, copper production in Cusco increased by approximately 13%, contributing an additional 1.2 percentage points to the GDP and boosting the provision of basic services such as water, sewage, and electricity.

“It is crucial to manage resources like the canon minero efficiently to ensure a sustainable and equitable impact, benefiting regions and local communities in terms of infrastructure and social services, which can help reduce regional inequality,” said Huamán.

The discussion panel also featured Domingo Drago, president of Rumbo a  PERUMIN; Javier Escudero, director of business development and sustainability at Hudbay; and Oswaldo Tovar, mining consultant at Ingeniería de Recursos SRL, who debated the territorial development of Cusco driven by mining, and how it contributes to generating significant economic resources that impact the sustainable and equitable development of both the region and the country.

In the second segment, Fernando Ruiz Caro, director of the Cusco Institute of Economics (INCUSE), discussed the impact and progress of Cusco’s regional competitiveness. He pointed out that the Imperial City ranks eighth among the 25 regions in the country, mainly due to significant improvements in regional public management and the efficient use of the budget in key areas such as health and employment.

During the following debate, Marco Santos, regional corporate affairs manager at Minera Las Bambas; Carlos Milla, director of INCUSE; and John González, president of the Cusco Chamber of Commerce, Industry, Services, Tourism, and Production, discussed opportunities to improve the region's competitiveness regarding factors like social conflict, corruption, and education—key challenges that limit the development of human capital and security.

The event Rumbo a PERUMIN: Development and Regional Competitiveness in Cusco is part of a series of activities leading up to the PERUMIN 37 Mining Convention, to be held from September 22 to 26, 2025, at the Cerro Juli Convention Center in Arequipa, with Germany as the partner country.