According to Peru’s Minister of Energy and Mines, Jaime Gálvez, the country’s mining industry is playing a crucial role in preventing a deeper recession amid the ongoing COVID-19 pandemic.
In an interview with Investing.com, Gálvez stated that the mining sector has been a key driver of economic growth in Peru, accounting for 60% of the country’s total exports and contributing significantly to its GDP. He emphasized that the industry has continued to operate and generate revenue despite the challenges posed by the pandemic.
Gálvez also highlighted the measures taken by the government to ensure the safety of workers in the mining sector, such as implementing strict health protocols and providing necessary resources for testing and treatment. These efforts have allowed mining operations to continue without major disruptions, helping to sustain the country’s economy.
Peru, a major producer of copper, gold, and silver, has been hit hard by the pandemic, with its economy contracting by 11.12% in 2020. However, the mining industry has been a bright spot, with production increasing by 2.4% in 2020 compared to the previous year.
Gálvez believes that the mining industry will continue to play a crucial role in Peru’s economic recovery. He stated that the government is working closely with mining companies to ensure the sustainability of the industry and promote responsible mining practices.
The Minister also addressed concerns about the environmental impact of mining in Peru, stating that the government is committed to promoting sustainable development and protecting the environment. He mentioned that the government has implemented strict regulations and is working with mining companies to ensure compliance with environmental standards.
Gálvez also discussed the potential for growth in the mining sector, citing the country’s vast mineral reserves and the government’s efforts to attract foreign investment. He stated that the government is actively promoting investment in new projects and diversifying the country’s mining portfolio.
In conclusion, Gálvez emphasized the importance of the mining industry in Peru’s economy and its potential for growth and development. He stated that the government is committed to supporting the industry and ensuring its sustainability, while also promoting responsible and environmentally-friendly practices. With the continued success of the mining sector, Peru is well-positioned to recover from the economic impacts of the pandemic and continue its path towards growth and prosperity.
