This region accounts for 30% of the total portfolio investment of US$ 16.425 billion. Five projects are copper-related and two are gold-related.

The world is going through an energy transition phase, seeking to shift from the use of fossil fuels to renewable energies in order to mitigate climate change caused by global warming. It is important to note that the development of this new technology requires certain minerals, such as copper, which is abundant in our country, especially in the Cajamarca region.

Felipe Valencia-Dongo, senior partner at Grupo Estrategia, said during the Heading to PERUMIN conference entitled "Opportunities for the Comprehensive Development of Cajamarca" that this northern region can reap significant benefits if it exploits the potential of its mineral wealth during this cycle of high copper demand.

"It is estimated that the world's demand for copper will double in the next 20 years. By 2035, the world will need twice as much copper as it does today. For example, an electric car requires 2.5 times more copper than a regular car and also requires six times more minerals than a regular car," he explained.

He also pointed out that Cajamarca has the largest mining investment portfolio in the country, with seven projects representing an investment of US$16.425 billion, or 30% of the total portfolio. Of these, five are copper projects and two are gold projects.

"The world's copper is concentrated in Peru and Chile. Peru, you are the new Saudi Arabia," he said, comparing the copper situation to the race for fossil fuels in the 20th century.

In this sense, he stressed that this represents a double opportunity for the country and for Cajamarca. On the one hand, there are large copper deposits, and on the other hand, the world needs this mineral. Therefore, this favorable cycle for the development of the projects in the portfolio cannot be missed.

How to  capitalize on the copper opportunity

“The question is: how do we extract the mineral that Cajamarca has more quickly and responsibly? More quickly because the world needs it and responsibly because we as a country, and the world as well, need it to be done this way,” noted Valencia-Dongo.

To make strategic use of this opportunity in Cajamarca, he called on all stakeholders to contribute and work together in their respective roles.

He invited academia to study energy transition and the relevance of mining in this process, and to involve the new generations. He encouraged suppliers to prepare to join the value chain of copper production. He urged opinion leaders to spread the word about this opportunity and its benefits. And he called on public institutions to properly manage resources to make the most of this historic context, which can bring sustainable development to the region.