Canada, Peru sign MOU on critical minerals, sustainable mining

Canada and Peru have signed a memorandum of understanding (MOU) for cooperation on critical minerals and sustainable mining.

The signing took place on Wednesday, attended by Canada’s Ambassador to Peru, Jean-Dominique Ieraci, on behalf of Minister of Energy and Natural Resources Tim Hodgson, and Peru’s Minister of Energy and Mines, Angelo Victorino Alfaro Lombardi.

The MOU “reflects the strength of Canada and Peru’s bilateral trade relationship and underscores our shared commitment to deepening co-operation in the mining sector,” Ieraci said. “Together, we are fostering innovation, promoting responsible resource development and building the skilled workforce needed for a low-carbon future.”

“Canada has what the world wants, and our abundant mineral deposits and mining expertise are no exception. That’s why, as part of our push to double non-US trade, generate economic growth at home and build new international trade and investment relationships, we are signing agreements like this MOU with Peru,” Hodgson added.

The MOU represents the latest bilateral deal that Ottawa has secured as part of the G7 Critical Minerals Production Alliance. This Canadian-led initiative aims to accelerate the Group of Seven’s development of critical minerals projects by working with trusted international partners.

Canada is the second-largest investor in Peru’s mining sector, with approximately C$11.2 billion in assets held by 67 Canadian exploration and mining companies.

Before Peru, the Canadian government had already partnered with 21 countries under the initiative, which so far has unlocked $18.5 billion in capital for projects in less than six months.