Canada and Peru Sign Critical Minerals Cooperation Agreement

Canada and Peru signed a memorandum of understanding on March 18, 2026, in Lima to enhance cooperation on critical minerals and sustainable mining. The agreement, signed by Peruvian Minister of Energy and Mines Angelo Victorino Alfaro Lombardi and Canadian Ambassador Jean-Dominique Ieraci, establishes a framework for bilateral investment, workforce development, and the implementation of technologies for decarbonization and traceability.

The partnership aims to secure supply chains for materials essential to defense, advanced manufacturing, and low-emissions technologies. It also seeks to improve regulatory governance and promote social and environmental best practices. The deal aligns with a broader strategy by Canada to double its non-US trade and expand its critical minerals network.

Peru is the 22nd country to enter such a collaboration framework with Canada since the summer of 2025. These bilateral agreements have collectively unlocked approximately $18.5 billion in capital for mining projects. The initiative is part of Canada's role in the G7 Critical Minerals Production Alliance. Canada is currently the second-largest investor in Peru's mining sector, with 67 companies holding roughly C$11.2 billion in assets.