Peru proposal to limit idle concessions sparks mining pushback
Peru’s mining industry is warning that a bill moving through Congress to halve the time to hold unused concessions would end up discouraging investment and favoring informal operators.
“It’s a blow to formal mining that could wipe out $60-billion in investments,” Gonzalo Quijandría, vice-president of mining and energy society SNMPE, told Canal N.
The proposal, which passed committee this week and is headed for a floor debate, would cut to 15 years from 30 the period companies have to explore before a concession expires.
Industry groups say it can take decades to discover and develop a deposit, while small-scale miners argue that large companies hoard scarce mineral rights instead of developing them. In Peru, that tension is heightened as global firms increasingly compete with informal operators for control of mineral-rich areas.
Peru — the world’s third-largest copper producer and a major supplier of gold, silver and zinc — grants concessions that allow companies to explore vast areas for extended periods. But the rise of illegal mining and years of project delays have led some lawmakers to push for shorter concessions that could be developed more quickly by smaller operators.
If enacted, the bill could spur an “invasion of concessions,” SNMPE executive director Ángela Grossheim told RPP.
The issue is emerging in the run-up to Peru’s general election on April 12. Conservative front-runner Rafael López Aliaga has pledged to revoke exploration permits for idle projects and redistribute them.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Showroom
M and J Mining are leading suppliers of physical support systems as used by the underground mining industry. Our selection of products are not...
VISIT SHOWROOM
Smart energy storage solutions for efficient, safe, and profitable power.
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
