Peru Authorizes Barrick Gold for Southern Border Mining Exploration
Peru’s government has granted Barrick Gold permission to conduct mining explorations in the country’s southern border region, Prime Minister Gustavo Adrianzen announced on Wednesday.
According to Peru’s constitution, foreign private investment within 50 km of the country’s border requires approval from the Cabinet of Ministers.
“The expansion of our mining portfolio is essential, given that this activity drives the economic reactivation process,” Adrianzen stated during a press conference.
Mining is a crucial component of Peru’s economy, accounting for 60% of the nation’s exports, primarily from the copper sector. The government has been striving to attract private mining investment following a decline last year that contributed to the country’s recession.
