Peru Signs Memorandum of Understanding with Gulf Countries to Promote Mining and Energy Investments
Peru's Minister of Energy and Mines, Jorge Montero Cornejo, currently on an official visit to Gulf countries, announced that Peru has signed a Memorandum of Understanding with the Gulf Cooperation Council (GCC)—which includes Saudi Arabia, Bahrain, Kuwait, Oman, Qatar, and the United Arab Emirates—with the aim of strengthening Peru's presence in the region and boosting commercial relations.
“Peru received a warm welcome in the Arab world. We return with many tasks and promising opportunities. We provided technical information to investors about Peru's mining and energy potential and our ongoing projects, so they can begin identifying areas of interest,” said Minister Montero.
He further announced that the Peruvian delegation secured the participation of a technical government team from Saudi Arabia's Ministry of Industry and Mineral Resources in the upcoming edition of Perumin 2025, Peru's largest mining convention, to be held in September in the Arequipa region.
“They are eager to engage in dialogue with the Peruvian government and private sector. They bring capital, technology, networks, and markets, and are especially interested in copper, lithium, critical minerals, and cutting-edge technologies. Expectations are high,” the minister noted.
In addition, Minister Montero reported that Peru and Saudi Arabia's Ministry of Investment are coordinating efforts to attract major Saudi companies specialized in natural gas, oil, petrochemicals, and mining, with a view to encouraging high-level investment in Peru. These firms have also shown interest in renewable energy, hydroelectric power, and green hydrogen.
The minister also confirmed that Peru and Saudi Arabia plan to sign a General Cooperation Agreementin the coming months to formalize discussions held during the visit and bilateral meetings. This agreement will aim to promote cooperation in mining project investment, as well as in the exploration, exploitation, and use of renewable energy, natural gas, hydrocarbons, and green hydrogen.
Finally, Minister Montero highlighted that this official visit, conducted jointly with Foreign Minister Elmer Schialer, helped consolidate bilateral cooperation and position Peru as an attractive destination for investment in the mining and energy sectors, through high-level meetings with government authorities, regional organizations, and Saudi sovereign wealth funds.
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