Peru seeks to redraft legal framework for mining industry, minister says
September 21, 2021
9:16 PM CDT
Last Updated 7 hours ago
Americas
By Marcelo Rochabrun
2 minute read
LIMA, Sept 21 (Reuters) - Peru's energy and mines minister said on Tuesday the government wants to revise the framework for the country's mining industry, redrafting the umbrella law that regulates the sector, as well as the legislation that sets royalty payments.
Peru is the world's No. 2 copper producer. Leftist President Pedro Castillo wants to raise taxes on mining companies to fund social programs, but has offered few details since assuming office in July.
. . .
While he did not specify what changes he would like to see, he said all new mining projects should have a "neutral effect" on the people, often indigenous communities, who live near Peru's Andean mines.
He added he also wants to revise the law that regulates the use of mining royalties, which go to the regional governments that host Peru's mines. Merino said he wanted to add flexibility to how those resources can be used.
More:
https://www.reuters.com/world/americas/peru-seeks-redraft-legal-framework-mining-industry-minister-says-2021-09-22/