1. INTRODUCTION: GENERATING ECONOMIC, SOCIAL, AND ENVIRONMENTAL VALUE TO CONTRIBUTE TO PERU’S DEVELOPMENT THROUGH MINING Mining is a long-cycle, capital-intensive activity characterized by high levels of uncertainty. Not every mining project that begins at the exploration stage ultimately becomes a producing mine. This outcome depends not only on technical criteria related to geology and feasibility studies, but also on a range of administrative, social, and institutional challenges. In countries such as Peru, with a rugged geography and, at the same time, abundant natural resources, these challenges are compounded by complex regulatory frameworks, episodes of political instability, and diverse, evolving social environments. In this context, generating value through formal mining requires companies to adopt a long-term perspective and sustain a continuous capacity for adaptation. Prepared within the framework of the World Mining Congress 2026, this paper addresses a specific question: how has a Peruvian mining company such as Compañía de Minas Buenaventura generated sustained economic, social, and environmental value for more than seven decades in a developing country, while contributing to territorial integration and to the broader process of national development and decentralization, and how do these capabilities enable sustained and reliable mineral production in complex operating environments? In the Peruvian context, a formal mining project, far from being an isolated enclave, operates within an economy predominantly oriented toward services, whose dynamics depend significantly on productive linkages with other sectors, including construction, metalworking, and specialized services, among others. Through these linkages, economic activity is stimulated and opportunities are created, particularly for populations located outside major urban centers, in high Andean regions where other productive activities face structural constraints. From a macroeconomic perspective, mining in Peru underpins key national indicators. The sector contributes, on average, 15% of gross domestic product, represents approximately 16% of total private investment, accounts for 60% of exports, and generates around 20% of corporate tax revenues. It also represents nearly half of the country’s electricity consumption. In terms of employment, according to official data from the Ministry of Energy and Mines, the mining sector generated 280,000 jobs in 2025. This impact is amplified by a significant multiplier effect. For every direct mining job, an average of eight indirect jobs are generated across the value chain, according to estimates by the Peruvian Institute of Economics (IPE). Within this framework, the case of Buenaventura, a Peruvian company founded in 1953 in Huancavelica, provides a relevant lens through which to examine the challenges described above. With more than 73 years of experience, operations in eight regions of the country, and a history shaped by demanding and shifting social, political, and economic contexts, the company offers a concrete perspective on how to sustain a long-term activity in a complex environment such as Peru. Its experience makes it possible to analyze the strategic decisions adopted 173
RkJQdWJsaXNoZXIy MTM0Mzk2