Canada signs major mining agreement with Peru in Lima to secure critical minerals supply chains and unlock new global investment opportunities

Fresh momentum is building in the global race for critical minerals, and Canada is making another bold move—this time with Peru.

The two countries have officially agreed to strengthen cooperation in mining, aiming to secure the resources that power everything from clean energy systems to advanced manufacturing.

A Growing Push for Critical Minerals Partnerships

Behind this agreement lies a bigger global shift.

Countries are scrambling to secure stable supplies of minerals essential for modern industries, including defense technologies and renewable energy.

Over the past year, Canada has actively expanded its global partnerships, signing more than 20 bilateral agreements focused on mining collaboration.

This effort also includes Canada’s leadership in forming the G7 Critical Minerals Production Alliance, which has already mobilized billions of dollars in investment for mining projects in a remarkably short period.

The goal is simple: reduce dependency on limited sources and build resilient, diversified supply chains with trusted allies.

Key Officials Seal the Agreement in Lima

The agreement was formally signed in Lima, marking a significant diplomatic and economic milestone.

Jean-Dominique Ieraci represented Canada on behalf of Tim Hodgson, while Angelo Victorino Alfaro Lombardi signed for Peru.

This Memorandum of Understanding (MOU) sets the foundation for long-term cooperation between the two nations in the mining sector.

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What the Agreement Actually Covers

At its core, the deal is about more than just mining—it’s about modernizing how the industry operates.

Both countries have agreed to:

• Increase bilateral investment in mining projects
• Develop advanced technologies for mineral traceability
• Promote decarbonization in mining operations
• Strengthen governance and regulatory frameworks
• Encourage environmentally responsible practices
• Build a skilled and inclusive workforce

The agreement also opens doors for Canadian companies to expand exports of mining equipment, services, and technologies into Peru’s resource-rich market.

Why This Matters for Canada’s Global Position

This partnership reinforces Canada’s standing as a major player in the global mining industry.

By working closely with trusted partners like Peru, Canada is positioning itself as a reliable supplier and investor in critical minerals.

It also highlights the country’s broader strategy: align with allies, standardize practices, and ensure that supply chains remain secure and sustainable in an increasingly competitive global environment.

Impact and Consequences

The immediate impact of this agreement is likely to be increased investment flows between the two countries, especially in mining infrastructure and technology.

Canadian firms could see expanded opportunities in Peru, while Peru benefits from advanced expertise and funding.

On a larger scale, this collaboration could help stabilize global mineral supply chains, reducing vulnerabilities caused by geopolitical tensions or supply disruptions.

Environmentally, the focus on decarbonization and best practices may also push the mining sector toward more sustainable operations.

What’s Next?

With the MOU now signed, the next phase will involve turning commitments into action.

This means launching joint projects, facilitating investments, and implementing shared standards across mining operations.

Both governments are expected to work closely with industry stakeholders to ensure that the agreement delivers tangible results, particularly in innovation, sustainability, and workforce development.

Summary

Canada and Peru have taken a significant step toward strengthening their partnership in the mining sector.

With a focus on critical minerals, sustainability, and investment, the agreement reflects a broader global effort to secure the resources needed for future technologies and economic growth.

Bulleted Takeaways

• Canada and Peru signed a new mining cooperation agreement in Lima
• The deal focuses on critical minerals, sustainability, and investment
• Over 20 similar agreements have been signed by Canada since 2025
• The partnership supports global efforts to secure mineral supply chains
• Canadian mining companies stand to gain new opportunities in Peru
• Environmental standards and workforce development are key priorities
• The agreement strengthens Canada’s role as a global mining leader