2172 3. RESULT As a result, the Mining Sector Sustainability Index (ISSM) is presented, which at the end of 2025 and with values published during 2026 to date, shows an average value of 62% (Table 1). Table 1 – Mining Sector Sustainability Index (ISSM). x INDEPENDENT VARIABLE: MINING INVESTMENT PROMOTION STRATEGY Dimensions / Indicators Criteria for evaluating indicators Weight Value x1 International Context for Promoting Mining Investments (International Competitiveness) 40% 70% x11 Global environmental problems Is there an opportunity for increased demand for minerals in the future? 80% x12 Sustainable Development Goals Global SDG Index Peru 2024 (United Nations) 73% x13 Climate-Smart Mining (CSM) Is Peru referenced in the CSM's global strategy? 75% x14 International minerals market Are there pricing opportunities? Is there market interest? 74% Copper and gold prices 80% Metal buyers 75% Mining Potential Index (Fraser, 2025) * 66% x15 Political Perceptions Index (Fraser, 2025) * *5-year average; mining investment attraction index. 51% x2 Governance (Internal Competitiveness) 40% 56% x21 Constitutional and legal framework Is there a legal framework that promotes investment? 60% Legal Framework 80% Obstacles in granting licenses and permits 40% x22 State policies Are there adequate policies? What is the vision? 75% x23 Mining Potential Cost competitiveness, internal logistics? 67% Mining history and tradition 79% Internal logistics 55% x24 Evolution of the Economy Are the indicators rising? Are they falling? 45% GDP per capita 50% Poverty Index 40% x25 Mining Investment (executed and projected) Is the magnitude of mining investments adequate? 52% Investments made (1990-2025) 75% Currently under development 40% Future portfolio 40% x26 Social and Environmental Conflict in Mining How do they affect mining investments? 40% x3 Lessons learned and continuous improvement of the Promotion Strategy 20% 58% x31 Results of the Investment Promotion Process in the Antamina Mining Project (1996-2001) Is it possible to develop mine in 5 years? 58% Experience (Antamina) 75% Current Experience 40% x32 Results of the Investment Promotion Process in the Las Bambas Mining Project (2003-2015) Conflict management and state presence? 58% Experience (Las Bambas) 75% Current Experience 40% x33 Operationalization of the Promotion Strategy Is there the infrastructure and experience to carry out the strategy? 60% Existing infrastructure and resources 70% Past experience 70% Current experience 40% y DEPENDENT VARIABLE: SUSTAINABILITY OF THE MINING SECTOR Indicator: Weight Value ISSM Mining sector sustainability index: y = f(x) = 40%x1 + 40%x2 + 20%x3 100% 62% Range (%) Assessment: Dimensions: [70, 100] High, strength, opportunity Internacional Context {Average x1j} 40% 70% [50, 70> Medium, Average Governance {Average x2j} 40% 56% [0, 50> Low, weakness, risk Lessons learned {Average x3j} 20% 58%
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