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2 clusters · 5 sources · 17 days · First seen · Last updated

Paraguay energy and mining sector development

Overview

Paraguay is moving to formalize and expand its energy and mining sectors to manage growing economic opportunities. President Santiago Peña has proposed the creation of a Ministry of Mines and Energy to act as a regulatory body and arbitrator, particularly as cryptocurrency mining—leveraging the nation’s hydroelectric resources—is projected to generate approximately USD 350 million for the state electricity provider, Administración Nacional de Electricidad (ANDE), by 2026.

To support industrial growth, the government is working to implement a modern Mining Code. This framework aims to facilitate the exploitation of minerals such as uranium and titanium, which are nearing the exploitation stage through projects involving companies like the U.S.-based Uranium Energy Corp. The proposed code seeks to introduce mechanisms like joint ventures and mining mortgages, while also addressing the need for domestic mineral processing to move beyond the export of raw materials.

Entities

Paraguay · Administración Nacional de Electricidad · Association of Banks of Paraguay · ANDE · BID Invest

Timeline

  1. [BUSINESS] 3 sources
    Paraguay seeks to strengthen financial and mining frameworks

    Paraguay aims to bolster investor confidence through institutional stability and the development of a new Mining Code to support upcoming uranium and titanium projects.

  2. [BUSINESS] 2 sources
    Paraguay considers new Ministry of Mines and Energy

    President Santiago Peña has proposed creating a Ministry of Mines and Energy in Paraguay to regulate its growing energy sector, driven by cryptocurrency mining and the global demand for AI-related power.

Sources

diarioparaguayo.com · elheraldopy.com · elnacional.com.py · eltrueno.com.py · mic.gov.py