Peru's Congress Approves One-Year Extension of Informal Mining Licenses

On Wednesday, December 17, Peru's Congress approved a one-year extension of temporary permits for small-scale miners, valid until the end of 2026.

The Peruvian government had previously opposed a proposal seeking to extend the temporary permits, known as REINFO, by two years.

After receiving preliminary approval in early December, the second vote required for formal passage passed with 13 votes in favor, 4 against, and 2 abstentions.

This marks the fifth extension of the REINFO permits since their introduction over a decade ago. The permits cover small-scale informal miners extracting gold and copper, allowing them to operate under these temporary authorizations.

According to Peruvian police and industry sources, the temporary permits have also contributed to a surge in illegal mining, coinciding with record-high precious metal prices in international markets.

Peru exported $15.5 billion worth of gold in 2024, a significant increase from $11 billion the previous year. Industry data and local financial regulators estimate that approximately 40% of this gold originated from illegal sources.

(Comprehensive report by Wen Hua)