Poverty in Peru would decrease 14% if projects in portfolio are executed
According to a study made by Centre for Competitiveness and Development (CCD) in alliance with the Peruvian Institute of Mining Engineers (IIMP).
If Peru executed its mining project portfolio, the national rate of poverty would decrease from 21% to 14% by 2021. This was determined by a study named “Macroeconomic and microeconomic benefits of mining" prepared by the Centre for Competitiveness and Development (CCD) in alliance with the Peruvian Institute of Mining Engineers (IIMP). This study will be presented at PERUMIN 33 Mining Convention.
This study points out that, at present, the mining project investment portfolio reaches US$ 46.7 billion. If executed by the national bicentenary, the GDP would grow in 11%. Also, direct employment in the industry would include 255,000 job positions and 1.6 million of indirect jobs.
This way, over 7.7 million people would be benefited in the country. According to IIMP chairman, Eng. Víctor Gobitz, “these figures are reachable for mining has the capability to act as an economic and commercial activity booster in areas with little production activity, opening opportunities for development for thousands of Peruvians”.
At present, mining benefits 16% of the national population.
These estimations regarding the future social impact of mining have been determined upon the effect it presently has on the national economy and the benefits it has generated in the last decades.
Statistics collected during research show that at present, this production activity generates about 174,000 direct jobs and over 1.1 million of indirect jobs and benefits 5.3 million people, i.e., 16% of the total population of the country. Employment generation adds up to the economic wealth promoted by the industry in the national treasury.
Between 2001 and 2016, mining has generated resources for 98.2 billion soles, out of which about 47 billion soles have been transferred as canon and royalties to regional governments, municipalities, and universities for construction of important infrastructure works in favour of the population.
Progress of this study was presented on July 11 at a briefing breakfast with the press, organized by IIMP and CCD, with the presence of IIMP general manager, Eng. Gustavo Luyo, and political analyst César Campos.
The Peruvian Institute of Mining Engineers (IIMP) will present three studies more in the megaevent PERUMIN 33 Mining Convention to be held at the campus of Universidad Nacional de San Agustín (UNSA) from September 18 to 22.
- The mining sector allocates 4% of the GDP of the economy in purchasing goods and services from the local market, maximizing the development of this cluster.
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