Canada and Peru have formalised a partnership set to strengthen cooperation on critical minerals development and sustainable mining practices.
The agreement, outlined in a newly signed memorandum of understanding (MoU), focuses on enhancing bilateral investment, advancing technology for traceability and decarbonisation, and improving governance standards across the mining value chain.
The MoU was signed by Jean-Dominique Ieraci, Canada’s Ambassador to Peru, on behalf of Canada’s Minister of Energy and Natural Resources, Tim Hodgson, and by Peru’s Minister of Energy and Mines, Angelo Victorino Alfaro Lombardi.
It marks an important milestone in deepening economic and technological collaboration between both countries, particularly in areas that underpin the global energy transition.
Under the agreement, Canada and Peru plan to coordinate efforts to promote environmental and social best practices, while encouraging workforce development that prioritises diversity and technical skill-building.
The initiative aims to position both nations as leaders in responsible resource management, aligning their mining sectors with international sustainability objectives.
The partnership also reinforces Canada’s role as a key foreign investor in Peru’s mining sector.
Canadian companies currently hold approximately CA$11.2 billion in assets across 67 exploration and mining operations in Peru.
By facilitating greater exports of mining equipment, technology and services, the MoU is expected to open new business opportunities for Canadian firms and bolster Peru’s capacity for sustainable resource extraction.
The agreement builds on a series of Canadian initiatives advancing critical minerals collaboration worldwide.
Since mid-2025, Canada has established 21 mining agreements globally and led the G7 Critical Minerals Production Alliance, which has generated CA$18.5 billion in investments for new mining projects within six months.
The two countries also advanced cooperation during the Canada-Peru Mining Innovation Summit in October 2025, which focused on accelerating innovation and sustainable mining solutions under Canada’s Critical Minerals Strategy.
This new partnership reaffirms both governments’ commitment to fostering innovation, responsible development, and long-term growth in the mining sector, serving as a model for future international cooperation in resource sustainability.
