XVI SIMPOSIO: Global Mining Companies Warn That Legal Stability, Social Management, And Streamlined Permitting Processes Will Be Key to New Investments in Peru
- Executives from leading global mining companies agreed that Peru continues to have competitive advantages in attracting mining investment; however, they cautioned that bureaucracy, regulatory uncertainty, and social conflicts could delay strategic mining projects.
Lima, May 26, 2026. During the roundtable discussion “Global Mining Executives: Strategy, Markets, and Outlook,” held as part of the – XVI International Mining Meeting, organized by the National Society of Mining, Petroleum, and Energy (SNMPE), senior executives from international mining companies noted that legal stability, regulatory predictability, social management, and the ability to expedite permits are decisive factors for Peru to maintain its competitiveness in the global race to attract mining investments linked to copper and the energy transition.
The roundtable was moderated by Roque Benavides, chairman of the board of directors of Compañía de Minas Buenaventura, and featured the participation of Andrea Vaccari, VP Responsible Production Frameworks & Sustainability of Freeport McMoRan Inc.; Gong Yu, General Counsel of China Minmetals Non-ferrous Metals Co.; Isaac Franklin, Chief Administrative Officer of Americas Mining Corporation; Juan Pablo Garrido, Senior Manager of Business Development Copper de Rio Tinto; and Rubén Fernandes, Chief Operating Officer of Anglo American.
The executives agreed that Peru remains a strategic jurisdiction due to its geological potential, human talent, and mining expertise, although they cautioned that permit approval times and growing social complexities are increasingly influencing global capital allocation.
Isaac Franklin, representing Grupo México, stated, “For Grupo México, Peru is essential. Peruvian talent is highly valuable and serves not only our local operations but also our global operations. It is also important to attract new generations to mining, to show them that they can build an attractive career within the industry.”
Juan Pablo Garrido added that global companies need confidence to make investment decisions. “For companies like Rio Tinto, legal certainty is probably the most important factor. Global companies need confidence to make long-term decisions,” he stated.
He also noted that investors are becoming less tolerant of increasingly lengthy project development timelines, particularly given the high copper prices and growing demand associated with artificial intelligence and the energy transition.
In this regard, Garrido questioned the delays in obtaining exploration permits. “Exploration involves determining whether geological potential exists. If the investigation process takes too long, it becomes difficult to justify investments,” he noted.
Meanwhile, Gong Yu of China MinMetals emphasized that “Peru has strong fundamentals” and has demonstrated the ability to attract and sustain international mining investments, thanks to the quality of its resources, macroeconomic stability, legal framework, and specialized talent.
Rubén Fernandes of Anglo American explained that investment decisions today are much more comprehensive than they were a few years ago and are no longer based solely on technical or financial criteria, but also on social, environmental, legal, and geopolitical factors.
Andrea Vaccari of Freeport McMoRan noted that the social component carries increasing weight in the viability of mining investments. She noted that, in various countries, indigenous communities can completely halt large-scale projects, so companies must build trust, starting from the exploration phase. “The process must be transparent. It is a growing challenge in the industry,” she added.
Meanwhile, Franklin of Grupo México stated that Peru is a “fundamental” country for the company and reaffirmed the commitment to continue investing in the country. He added that expected growth in global copper demand, driven by artificial intelligence and the energy transition, allows for the reactivation of projects that had been stalled for years.
The executives also agreed that strategic alliances and shared infrastructure will become increasingly relevant to address the rising costs and capital intensity demanded by modern mining.
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