throughout contemporary national history and to observe how mining can contribute to sustainable development. This paper proposes to examine this case study through a historical and applied approach, with the objective of identifying practical lessons associated with long-term value creation in mining. The analysis aligns with the pillars proposed by the World Mining Congress, namely trust, transformation, and technology, understood as dimensions that are progressively built through strategic decisions, organizational practices, and observable results. Drawing on the Buenaventura case, the paper seeks to contribute to the debate on the role of formal, responsible mining in developing economies, and on the conditions required for such contributions to be sustainable and to translate into tangible improvements in quality of life and enhanced national competitiveness. 2. CONCEPTUAL FRAMEWORK: HISTORY, TRAJECTORY, AND LONG-TERM VALUE CREATION Analyzing the trajectory of a mining company that has operated for more than seventy years requires a conceptual framework capable of explaining how strategic decisions are made under changing conditions and extended investment horizons. In activities such as mining, particularly in the Peruvian context, where productive, financial, and social cycles unfold over decades, history constitutes a central explanatory variable of corporate performance. According to estimates by the Peruvian Institute of Economics (IPE), a mining project may take up to forty years to materialize, from initial exploration to the commencement of commercial production, underscoring the relevance of historical analysis in this sector. Academic literature on long-standing companies converges on the idea that continuity over time is built through the accumulation of coherent and consistent practices rather than isolated successes. James C. Collins and Jerry I. Porras, in Built to Last: Successful Habits of Visionary Companies, emphasize the importance of a long-term vision, the persistence of organizational values, and strong strategic alignment as key factors explaining the durability of certain organizations. In a complementary perspective, Arie de Geus, in The Living Company, argues that firms capable of sustained survival and value creation behave like living organisms, in that they learn, adapt, and evolve without losing their essential identity. These approaches are particularly useful when examining companies operating in environments characterized by high volatility, where political, economic, and social dynamics introduce additional layers of complexity into long-term decision-making. In the Peruvian case, the history of mining is closely intertwined with changes in national institutional frameworks, the evolution of regulatory regimes, and the varying role assumed by the State across different historical periods. A joint publication by the Instituto de Estudios Peruanos (IEP) and the Central Reserve Bank of Peru (BCRP), Historia económica del sur peruano, illustrates how the mining codes of 174
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