PROINVERSIÓN promotes the US$ 4.4 billion Sechura Mining Project at PERUMIN

Arequipa, September 23, 2025.- Within the framework of the 37th edition of the PERUMIN Mining Convention, PROINVERSIÓN’s Executive Director, Tabata Vivanco, is promoting the portfolio of mining projects that the agency expects to award under the Asset Projects modality, on behalf of the Ministry of Energy and Mines (MINEM).

The portfolio highlights the Sechura Mining Project, a non-metallic mining initiative located in the Piura region, which would require an estimated investment of US$ 4.4 billion throughout its operation, if the option is chosen to add value to phosphate rock and allocate its production to the manufacture of phosphate fertilizers. The project involves the concession of five mining units for exploration, exploitation, commercialization, and potential industrialization of phosphate rock.

In this context, Tabata Vivanco held a meeting with senior executives of Compañía de Minas Buenaventura, led by Raúl Benavides. During the meeting, company representatives highlighted the technical support provided by PROINVERSIÓN, MINEM, and Activos Mineros in the materialization of the El Algarrobo Mining Project, awarded by PROINVERSIÓN to Buenaventura in December 2024. This project, requiring an investment of US$ 2.753 billion (excluding VAT), is a polymetallic initiative that includes the design and implementation of hydraulic infrastructure projects.

Buenaventura executives expressed their expectation that the project will move forward according to the stages established in the transfer contract signed with the State in March 2025, stressing the importance of public-private coordination for its success.

For her part, PROINVERSIÓN’s head reaffirmed the agency’s commitment to continue supporting and coordinating efforts with the relevant public entities to ensure the completion of these investments for the benefit of the Piura region and the country.

Finally, Vivanco also held a meeting with executives of First Quantum Minerals Perú S.A.C., a company dedicated to copper project development, to whom she provided detailed information on the scope and potential of the Sechura Mining Project, aimed at fostering the industrialization of phosphate rock, a strategic raw material for fertilizer production.

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