In addition, in April 2022, Peru’s profound political crisis escalated when the government declared a one-month state of emergency to allow the armed forces to supervise its highways in an attempt to stem nationwide protests over rising prices of oil and wheat imports amid the conflict between Russia and
Ukraine. The decree allowed for the army to be deployed to clear the blockades while also suspending certain constitutional rights such as freedom of movement and assembly. Castillo’s government has faced growing public anger over the crisis, especially after he imposed a mandatory 24-hour lock-down in Lima and Callao, a neighboring port city, in a bid to “re-establish peace.” The president backtracked on the measure after opposition politicians and human rights groups slammed it as a disproportionate infringement on freedom of movement.

Despite this state of tension, Peru experienced one of the world’s fastest post-pandemic recoveries. 2021 turned out to be a year of unprecedent growth for many companies across the mining value chain. Mining producers started making up for lost time after the easing of restrictions and were encouraged by soaring metals prices. This has brought tremendous opportunities for service, equipment and technology providers. The Peruvian mining sector attracted investments of around US$5.24 billion in 2021, representing a 21% increase with regards to the previous year.