Canada and Peru joined an alliance this week to strengthen critical mineral supply chains and promote sustainable mining practices, as Canada continues to expand non-U.S. trade partnerships.
Focused on reciprocal investment and advancing technological solutions, the agreement emphasizes sustainability and building a more diverse workforce in the mining sector.
The Government of Canada’s press release says this move reinforces Canada’s role as a leading foreign mining investor while boosting exports to Peru and creating new opportunities for the industry.
The memorandum of understanding (MOU) was signed Wednesday in Lima by Canada’s ambassador to Peru, Jean-Dominique Ieraci, on behalf of Natural Resources Minister Tim Hodgson, alongside Peruvian Minister of Energy and Mines Jorge Montero Cornejo.
The agreement aims to increase bilateral investment, support emissions tracking and decarbonization, and improve regulatory frameworks.
“Together, we are fostering innovation, promoting responsible resource development and building the skilled workforce needed for a low-carbon future,” said Ieraci in a Wednesday press release.
According to Hodgson, the MOU is part of a greater push to “double non-U.S. trade, generate economic growth at home, and build new international trade investment relations.”
The deal builds on Canada’s incentive to secure critical mineral supply chains as global demand rises for materials used in defence, advanced manufacturing and clean technology. Since summer 2025, Canada has signed 21 international agreements in the mining sector and helped launch the G7 Critical Minerals Production Alliance, which Natural Resources Canada says has unlocked $18.5 billion in mining investment.
Canadian companies already hold more than $11 billion in assets in Peru. Officials say the new agreement will deepen that relationship while supporting long-term economic growth and sustainability in both countries.