According to a report by Mining.com, Peruvian President Dina Boluarte said on Monday that the government is considering whether to approve a new wave of mining projects worth 6 billion U.S. dollars, as it seeks to increase revenue from the mining sector.

In his routine report to Congress on Independence Day, Boroualt stated that the government is weighing whether to approve 134 exploration and development projects.

Officials from Peru, the world’s third-largest copper producer, are currently in negotiations with informal miners. In June, these miners staged protests that blocked a key transportation corridor—a route used by major mining companies, including Glencore.

During the consultations on the revision of the Mining Law, these informal miners suspended their protests and road blockades. The situation escalated among informal miners after more than 59,000 were removed from the formalization process; by year-end, only about 31,000 had been recognized by the government as meeting the required criteria.

Boroualt stated that the government is launching a private mining fund, which will enable small formal miners to enhance their access to financing.

In addition, Borualt announced that an agreement had been reached with Ecuador’s state oil company, Petroecuador, to connect Ecuador’s oil fields to the Peruvian pipeline, enabling crude oil shipments to Peru’s Talara refinery.

Peru is facing prolonged political instability, with six presidents having served since 2018. The next general election will be held in April 2026.

Although Peru’s economy has gradually recovered from domestic unrest, the country’s poverty rate remains close to 30%.