Overview
- The IMF’s June 2026 technical assessment finds illegal mining has accelerated since the pandemic and estimates illegal copper could account for up to 5% of Peru’s 2024 copper exports.
- The fund’s analysis shows the average probability of illegal mining at the district level rose 7.8 percentage points from 2018 to 2024, with more than half of that increase occurring between 2023 and 2024.
- The IMF reports criminal groups use legal companies, traders and authorized processing plants to launder illegal minerals and proceeds, creating large illicit flows that the fund says undermine formal investment and state revenue.
- The report criticizes the Reinfo formalization registry for repeated deadline extensions and weak supervision that have created a 'gray zone' allowing illegal operators to hide behind paperwork.
- Using machine‑learning models fed with satellite and administrative data, the IMF mapped the spread of illegal mining and warned of severe human and environmental harms including forced labor, trafficking, violence and ecosystem destruction.