Cerro Verde Completes First Works for Taxes Projects in Arequipa

July 24, 2026 - Cerro Verde has completed its first two projects through Peru's Works for Taxes (Obras por Impuestos, OxI) program, investing more than $14 million in initiatives designed to expand access to education and improve infrastructure in the Arequipa region.

The Works for Taxes program allows private companies to accelerate public infrastructure projects by funding and executing them directly, with investments later applied toward tax obligations. Through the program, Cerro Verde is helping ensure a portion of the taxes it pays to the government is translated into tangible improvements for local communities.

“The main challenge facing Arequipa’s authorities is improving public investment by spending the resources generated by mining more efficiently—for example, on projects that improve the quality of life of Arequipa residents,” said Julia Torreblanca, Senior Vice President, Corporate Affairs-Cerro Verde.

One of the completed projects is a new campus for the National University of San Agustín in El Pedregal, Majes. Developed in partnership with other private companies, the campus includes technology-enabled classrooms, specialized laboratories and research facilities designed to support student learning and innovation. The project is expected to benefit approximately 500 students pursuing degrees in fields such as agronomy and business administration.

Cerro Verde also completed a major road infrastructure project in the district of Uchumayo. The work included roadway resurfacing, drainage improvements, signage upgrades, new sidewalks and green spaces. The improvements are expected to enhance traffic flow, increase road safety and support economic development in an important transportation corridor.

Both projects generated local employment and reflect Cerro Verde's ongoing commitment to supporting sustainable development in Arequipa.

"We do not just extract resources from the earth; we also create opportunities," said Tomás Gonzales, President-Cerro Verde. "When we transform taxes into education and infrastructure, we are building the most valuable legacy we can leave behind: a better future for our people."

“Following the successful completion of its first two projects, Cerro Verde currently has eight additional Works for Taxes projects under development that are expected to be completed in the coming months”, said Enrique Aguilar, Social Planning Manager-Cerro Verde.

Photos: The new campus for the National University of San Agustín in El Pedregal, Majes, contains well-equipped classroom, laboratories, a library and research space. In the photo above, the road infrastructure projected included roadway resurfacing, drainage improvements, signage upgrades, new sidewalks and green spaces.