11 14 Taken together, the literature, interviews, and the Arequipa case converge on a consistent finding: sustainable water management generates three simultaneous outcomes — environmental restoration, operational reliability, and social acceptance. Mechanisms such as reuse, diversified supply, monitoring systems, and basin-scale governance reduce uncertainty and strengthen project viability. Overall, the results support the hypothesis that private sector participation is both necessary and economically rational. Where institutional capacity is limited, companies can co-finance adaptive infrastructure and data systems that generate public goods while protecting operations. Sustainable water management thus emerges not as a constraint, but as a condition for longterm competitiveness. 5. CONCLUSIONS AND IMPLICATIONS FOR INDUSTRY This study demonstrates that water management in mining has shifted from a compliance-driven function to a strategic determinant of operational continuity, financial performance, and long-term asset viability. The evidence confirms that adaptive basin-scale water management reduces hydrological risk, strengthens sustainability outcomes, and improves long-term economic performance. The shift from site-level mitigation reflects structural realities: climate variability, cumulative impacts, and multi-sector competition exceed concession boundaries. Resilience therefore depends on integrated strategies combining monitoring, climate-informed modelling, recirculation, diversified supply, shared infrastructure, and coordinated governance. For industry and policymakers, water security must be embedded in core investment and risk decisions. Efficiency, reuse, and alternative sourcing reduce production volatility, while cofinancing basin-scale systems strengthens social license and project bankability. Under increasing hydroclimatic uncertainty, sustainable water management emerges not as a discretionary sustainability measure, but as a prerequisite for long-term mineral supply, asset bankability, and competitive positioning in water-constrained economies. ACKNOWLEDGEMENTS The authors would like to especially thank Julia Torreblanca (Vice President of Corporate Affairs at Sociedad Minera Cerro Verde S.A.A.), Oscar Osores, and Edgar Quiroz for their valuable contribution to the development of this document through the in-depth interviews conducted, in which, in addition to addressing the topics consulted, they provided their highly informed perspective on water management in mining. REFERENCES Baisley, A., Pearce, S., & O’Kane, M. (2016). Climate change and mine closure–a practical framework for addressing risk. Proceedings IMWA, 35-42.
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