Over the weekend, Peruvian business journal La
Republica reported that, despite rampant social conflicts, endless bureaucratic
red tape, and falling prices, international investors still see Peru as an
attractive place for mining investment. According to Alfredo Remy, a lead
partner with PwC’s mining division, Peru captured 5.72% of the international
investment in mining in 2015, up from its level of 5% in 2014. Remy cautioned
though that Peru has fallen in some international rankings of attractiveness
for mining investment, because of the problems mentioned above.
Andina
News Agency reported on another part of PwC’s report, noting that the
Peruvian regions received three times as much money from the mining industry as
did the central government. In addition,
mining royalties grew by 15.47%, more than compensating for the 11.47% fall in
royalties from the hydrocarbons sector.
In other mining news, Gestión
reported that the mining industry continues to dominate Peru’s exports.
Although overall exports declined by 15% in January 2016 over the previous
year, mining exports made up an even larger percentage of the country’s exports
than in the past.
In less positive news, El
Comercio confirmed that around 2,000 miners are operating illegally in the National
Reserve of Tambopata. At the end of 2015, the Peruvian authorities announced
that they had discovered illegal miners operating in the national reserve, and
El Comerico followed through on these reports and traveled to the area. The
reporting found that the miners have brought heavy machinery to the reserve to
start extracting gold form the rivers in the protected reserve.
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