Impact of mining tax plans

August 9, 2021

On August 4, 2021, the Bolivian portal “El Diario” commented on the concern of Peruvian miners about tax plans and the difficult circumstances in Peru.

1. The mining sector

It is said that the President of the Republic, Pedro Castillo, is planning to increase taxes on the mining sector and to put order to the exploitation of natural resources.

2. Corporate social responsibility

Pedro Castillo and the Minister of Energy and Mines commented on corporate social responsibility as a vital mechanism for the development of mining in Peru, which has investments of US$56 billion in its portfolio.

3. Mining as a key source

It should be noted that mining is a key source of fiscal income in Peru, having the second-largest copper producer in the world, and for this reason, our country has benefited from the rise in metal prices in recent months.

4. Comment from the president of Buenaventura

According to the president of the board of directors of Buenaventura mining company, Roque Benavides, they are operating under difficult circumstances due to the difficult dealings with the elected government. It should be noted that mining represents 60% of Peru’s exports.

Source: El Diario 05/08/21