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: Dimensio ns: [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% 4. DISCUSSION 4.1 Peru, a mining country The Peruvian economy depends directly on mining; “Peru is a mining country,” as evidenced by the evolution of GDP per capita and copper production in the last 100 years in Peru, shown in Figure 2, where we clearly see three defined stages: The first stage, up to 1967, shows constant economic and mining growth with private investment, and prior construction of large infrastructures such as the Central Railway, the Central Highway, hydroelectric plants, the La Oroya Metallurgical Complex and others, based on the mining potential, particularly in the center of the country, with the awakening of copper, with mining explorations in the north, center and south of the country. As a second stage, this growth was unfortunately interrupted in 1968 by a statist and nationalist model, which led Peru to its greatest economic, social, environmental, and political crisis by the end of 1990, as detailed in the Central Reserve Bank of Peru's (BCRP) publication "The Great Depression of the Peruvian Economy." This publication highlighted the significant economic losses caused by public enterprises, corruption, bureaucracy, and a lack of investment (BCRP, 2015, p. 92). In other words, by 1990, Peru was on a completely different path, contrary to the Sustainable Development model promoted by the United Nations since 1987. As a third stage, the new government that began in 1990 embraced the opportunity presented by the global agenda promoted by the United Nations. A change in policy was necessary, shifting towards a "Social Market Economy," including the free market and the promotion of private investment under the global agenda of risk management and sustainable development—principles consolidated in the new Political Constitution of Peru, in force since 1993. 20
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