Peru is considering approving a batch of mining projects.

According to the Mining.com website, Peruvian President Dina Boluarte said on Monday that the government is considering whether to approve a new wave of mining projects worth $6 billion, in an attempt to increase revenue from the mining sector.

President Boluarte stated in her routine Independence Day address to Congress that the government is evaluating whether to approve 134 exploration and development projects.

Officials from Peru, the world's third-largest copper producer, are in negotiations with informal miners who staged protests in June, blocking a key transport corridor used by major mining companies including Glencore.

During consultations on the revision of the mining law, these informal miners suspended their protests and road blockades. Tensions escalated after more than 59,000 informal miners were removed from the formalization process, with only approximately 31,000 recognized by the government as compliant by the end of the year.

President Boluarte stated that the government is launching a private mining fund to enhance the financing capacity of small-scale formal miners.

Additionally, President Boluarte announced an agreement with Petroecuador to connect Ecuadorian oil fields with the Peruvian pipeline, enabling oil supply to Peru's Talara refinery.

Peru has been grappling with prolonged political instability, having had six presidents since 2018. The next general election is scheduled for April 2026.

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