- Write by:
-
Tuesday, December 1, 2020 - 2:24:39 PM
-
801 Visit
-
Print
Mining News Pro - Peru will streamline the consultation period prior to granting mining licenses as part of a set of planned reforms to the country’s mining rules, the new head of the Ministry of Energy and Mines (MINEM), Jaime Galvez has said.
The potential changes to the regulatory framework seek to speed up current projects, guarantee existing operations and promote exploration and investment, Servindi reported.
Governments in Peru are mandated by law to hold talks with local communities before they apply for a mining licence.
The new mining minister said his office will publish a proposal in January outlining steps to replace prior consultation in the exploration phase of projects with what he calls “prior agreement” between companies and communities to be affected by developments.
The change aims to reduce the current consultation period during the exploration phase to six months, down from about 12 months it currently takes.
BMO analysts said the announcement was positive. “Such a move would improve Peru’s competitiveness vis-à-vis other key mining countries which do not require such lengthy consultation periods (if at all) prior to the granting of mining licenses,” they wrote on Monday.
Peru’s political stability remains a key risk for mining investors. New interim president, Francisco Sagasti, assumed the role just two weeks ago, following the removal of Martin Vizcarra and the resignation of his successor Martin Merino in early November.
There currently are 48 mining projects at different stages of development, which represent almost $58 billion in investments. Another 54 exploration projects, totalling roughly $500 million are being executed.
Short Link:
https://www.miningnews.ir/En/News/609550
Top copper producer Codelco reported a decline in quarterly output due to lower quality ore at its aging Chilean mines — ...
When former boss Mark Cutifani left Anglo American Plc in mid-April 2022, things had rarely looked better for the ...
Chile President Gabriel Boric said on Thursday he is targeting an increase in the country’s annual copper output by 1 ...
Brazilian miner Vale SA sees no impact from BHP Group’s bid for Anglo American on the latter’s Minas-Rio project, its ...
Copper miner Antofagasta Plc is holding meetings with investors this week for its first dollar bond offering in nearly ...
China’s Tianqi Lithium said on Thursday it has formally requested that a proposed joint venture between lithium company ...
Copper needs to reach $12,000 a ton — a 20% jump from this week’s high — to incentivize large-scale investments in new ...
Newmont Corp beat Wall Street estimates for first-quarter profit on Thursday, as the world’s largest gold miner ...
Teck Resources, Canada’s largest diversified miner, saw its copper production jump by 74% in the first three months of ...
No comments have been posted yet ...