LIMA, Peru, March 18, 2026 /CNW/ - As demand for the materials that power defence, advanced manufacturing and clean technologies accelerates, the need to work with our allies to build secure, diversified and resilient critical mineral supply chains has never been greater. Since summer 2025, the Government of Canada has signed 21 mining and critical minerals bilateral collaboration frameworks with global partners and led the creation of the G7 Critical Minerals Production Alliance, which has unlocked $18.5 billion in capital for mining projects in less than six months.
Further to that work, today, Canada's Ambassador to Peru, Jean-Dominique Ieraci, on behalf of the Honourable Tim Hodgson, Canada's Minister of Energy and Natural Resources, and Peru's Minister of Energy and Mines, Angelo Victorino Alfaro Lombardi, signed a Memorandum of Understanding (MOU) to advance cooperation on critical minerals and sustainable mining.
This agreement focuses on advancing bilateral investment, driving technological solutions for traceability and decarbonization, improving regulatory and governance frameworks, promoting environmental and social best practices and building skilled and diverse workforces. It strengthens Canada's role as a major foreign mining investor and boosts our exports of mining equipment, technology and services to Peru, creating new opportunities for the Canadian mining industry.
This agreement is a testament to Canada's reputation as a reliable place to do business, a premier investment destination and a trusted ally in mining and processing. By building supply chains with allies, co-ordinating investment and aligning standards, Canada is ensuring the materials that underpin modern economies and national security remain accessible, sustainable and secure.
Quotes
"This Memorandum of Understanding reflects the strength of Canada and Peru's bilateral trade relationship and underscores our shared commitment to deepening co-operation in the mining sector. Together, we are fostering innovation, promoting responsible resource development and building the skilled workforce needed for a low-carbon future."
Jean-Dominique Ieraci
Ambassador of Canada to Peru
"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-U.S. trade, generate economic growth at home and build new international trade and investment relationships, we are signing agreements like this MOU with Peru. As our second-largest bilateral merchandise trading partner in South and Central America, and a country where Canadian mining assets total over $11 billion, I look forward to continuing to strengthen our mining relationship with our allies in Peru."
The Honourable Tim Hodgson
Minister of Energy and Natural Resources
Quick Facts
- 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.
- In October 2025, Canada's Mining Innovation Commercialization Accelerator (MICA) hosted the Canada–Peru Mining Innovation Summit, bringing together industry leaders and government representatives to deepen bilateral collaboration. The summit focused on driving innovation, expanding trade and investment opportunities and advancing sustainable resource development aligned with Canada's Critical Minerals Strategy.
Associated Links
- Critical Minerals Production Alliance
- G7 Critical Minerals Action Plan
- Roadmap to Promote Standards-based Markets for Critical Minerals
- Canadian Critical Minerals Strategy
- Canada's Defence Industrial Strategy
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SOURCE Natural Resources Canada
Contacts: Natural Resources Canada, Media Relations, 343-292-6096, [email protected]; Charlotte Power, Office of the Minister of Energy and Natural Resources, [email protected]
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