Economic Activity due to PERUMIN Will Be 25% Higher than in 2022

• The mining event will bring in approximately S/. 100 million to Arequipa.

PERUMIN, the world's leading mining convention, is expected to be more than just a mining convention focused on academic and business matters; it is expected to serve as a catalyst for local development by generating approximately S/ 100 million for the Arequipa region this year.

“According to the Regional Government of Arequipa, the economic impact of the mining event on the host city will be of approximately 100 million soles generated from convention-related services. However, I believe that the economic activity will be even more significant," stated Carlos Diez Canseco, a member of the organizing committee of PERUMIN 36.

In an interview with the program Encuentro Hoy, he compared this amount to the 80 million soles generated in the previous edition. He emphasized that the economic impact will mainly benefit businesses in the hotel, restaurant, tourism, and commercial sectors, driven by high demand from both domestic and foreign visitors.

“We have observed greater economic dynamism in the region, and the construction of nearly 1,200 stands underscores the significance of the event. Without a doubt, PERUMIN, hosted in Arequipa, showcases Peruvian mining on the global stage, enabling us to attract investors and encourage the purchase of equipment exhibited at our fair," he added.

Mining Investments

When asked about the pace of mining investments in 2023, Carlos Diez Canseco, who also serves as the general manager of the Peruvian Institute of Mining Engineers (IIMP), suggested that it will likely experience relative above-average growth. This could be attributed, for instance, to the completion of the Quellaveco investment schedule.

“Many mining operations no longer face the issues they faced last year. For example, the Southern Transport Corridor is now operational, and there have been no interruptions this year. Therefore, companies using this corridor are producing and exporting at full capacity. As a result, this is expected to be a successful year," he argued.

However, he cautioned that unwarranted opposition to the implementation of new projects, rather than affecting mining activities, will ultimately detrimentally impact young professionals or graduates competing for jobs in this sector, a situation that will exacerbate social inequality and poverty in rural areas.

“By rejecting investments, we punish our youth because they are the ones seeking employment. Nobody wants to be in a position where they cannot support their family. Developed countries have provided exceptional conditions for investments to be made, in order to generate jobs. That is what we need," Carlos Diez Canseco emphasized.