Press Release

Peru strengthens the mining formalization process

Bnamericas Published: Wednesday, July 27, 2022

Prospecting, exploration and extraction of mineral resources Underground mining Minerals Pipeline Scrap & Recycling Types of mining Illegal mining Open pit mining

This statement from the Ministry of Energy and Mines of Peru was translated from Spanish by an automated system

The Public Sector Budget Law for Fiscal Year 2022 exceptionally authorizes financial transfers between entities. Likewise, it empowers the Ministry of Energy and Mines (MINEM) to make transfers in favor of the regional directorates or managements of Energy and Mines of the regional governments.

In this regard, so far in July of this year, the MINEM authorized the transfer of S/ 5,560,000.00 (Five million five hundred and sixty thousand and 00/100 soles) to 20 regions to strengthen the comprehensive mining formalization process in the whole country.

Last Sunday, the corresponding ministerial resolutions were published approving the transfer of S/250,000 in favor of the regional government of Ancash, S/540,000 to the regional government of Arequipa, S/130,000 to the regional government of Ucayali, S/200,000 to the regional government from Pasco, S/200,000 soles to the regional government of Tacna and 100,000 soles to the regional government of Tumbes. Likewise, on Saturday, July 9, the MINEM allocated financial transfers of S/220,000 to the regional government of Piura, S/70,000 to the regional government of Cajamarca, S/130,000 to the regional government of Loreto and S/240,000 to the regional government of Huancavelica. .

Meanwhile, on Wednesday, July 6, the MINEM transferred S/ 3.5 million to 10 regional governments. Ministerial resolutions authorize financial transfers to Madre de Dios (S/490,000), La Libertad (S/480,000l), Lima (S/220,000), Moquegua (S/160,000), Apurímac (S/460,000), Amazonas (S /170,000), Junín (S/240,000), Puno (S/700,000), San Martín (S/220,000) and Cusco (S/360,000).

Financial transfers are cooperation agreements to strengthen the comprehensive mining formalization process, promoted by the sector through the General Directorate of Mining Formalization (DGFM) and whose transferred amounts will be used exclusively for this purpose.

The MINEM, through this effort, projects that small formalized mining producers can achieve better production conditions and have access to legal certainty, technical assistance, sources of financing, in addition to working with greater security and caring for the environment.

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