The World Bank has approved a US$200 million project to help Peru enhance competitiveness, transparency, and sustainability in its mining sector, aiming to create more and better jobs across the value chain. The initiative will generate advanced geoscientific data, modernize permitting systems, and strengthen institutional capacity, addressing regulatory bottlenecks and governance challenges that have slowed investment in recent years.
Mining, which contributes around 10 percent of Peru’s GDP and is a major source of exports and employment, will benefit from improved predictability and transparency, attracting private investment and supporting workforce development. The project aligns with the global clean energy transition by facilitating exploration and development of critical resources such as copper, promoting local economic growth through services, infrastructure, and supply chains.
Key components include the creation of a National Drill Core Library, a modern geochronology laboratory, and a Digital One‑Stop permitting platform to streamline authorizations and increase regulatory clarity. By modernizing core systems, fostering innovation, and strengthening governance, the project seeks to unlock Peru’s mineral potential, generate sustainable jobs, and deliver inclusive, long-term economic growth.
