198 199 cerro de pasco The greatest investment of the XXth century Another constant in relation to mining investment is that when a liberal economic framework and good metal prices coincided in Peru, a greater boom, sustained growth and long periods of stability were fostered in the country. Moreover, the incentive for the development of mining was the key tool to get us out of two of the deepest crises we have experienced in our republican history: the aftermath of the War with Chile and the deep wounds of hyperinflation and the terrorist violence at the end of the last century. In both cases, laws promoting the sector were enacted, and these ignited the engines of mining and the national economy. Another long period of growth under these conditions was after the enactment of the 1950 Mining Code, in which our GDP grew for almost twenty consecutive years, at an average rate of more than 5%, according to the BCR (Peruvian Central Reserve Bank). But the consolidation of the mining sector is just the first stage in a desirable development process for Peru because, beyond energy, communications networks, transport, inputs, supplies, spare parts, services and others that the activity requires, the great challenge of this century is to take advantage of the momentum of mining to diversify our development and be less and less dependent on variables such as international prices over which we have no control. We already know the formula: research, planning, innovation and allocating part of the national income to the cause of development, stimulating sectors that give us competitive advantages in the world. In this sense, civil society must be attentive not only to the actions of companies, but to that of their elected authorities who, many times, forget their commitment to development and give way to personal or populist appetites. For this reason, it is important to strengthen the country’s institutions, for the State to provide us with the tools and offer the conditions to receive this investment, take advantage of it, and not only invest those resources while keeping the next generations in mind, but also by harshly punishing the opportunists who mortgage our future by diverting those resources for their personal ends. Development is built step by step and costs a lot. The good news is that China and the United States have announced investments in infrastructure and, with this, motivated greater demand and a rise in the international price of copper. Peru is currently the second most important producer in the world and has reserves to triple its production in the following decades. In addition, specialists point out that the demand for copper will continue to grow as it is the best energy transmission component for the production of electronic cars and for generators and devices that use renewable energy. A new and auspicious era opens for this mineral so closely linked to our land and to the history of Peru. If we talk about promoting development and fighting poverty, mining opens up a new possibility for us. But we already have a history and lessons learned. We cannot squander another great opportunity. � HISTORICALLY, WHEN A LIBERAL ECONOMIC FRAMEWORK AND GOOD MINERAL PRICES COINCIDED IN PERU, A MORE EXTENDED BOOM, SUSTAINED GROWTH AND LONG PERIODS OF STABILITY WERE FOSTERED IN THE COUNTRY.
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