Peru is LaTAm most competitive mining country in terms of costs


Peru's mining industry

11:41 | Lima, May 19 (ANDINA).

Peru is the most competitive mining country in the region in terms of costs, including over Chile, which makes the Andean country more attractive to global foreign investment, Peruvian Minister of Energy and Mines Jorge Merino said Sunday.
"A competitive mining industry is based on their costs and Peru has very competitive costs due to its cheap energy, a skilled and highly attractive labor force and an appropriate logistic and legal framework," he said.

The minister noted, for instance, Peru’s energy costs at 6 US cents per kilowatt hour, while in Chile it costs at 16 US cents. Moreover, Peruvian labor is multifunctional and has highly skilled miners.

"Also, the Andean country has a better location as it borders the southern Pacific Ocean, this fact makes prevail maritime logistics which relates to mining transportation abroad," Merino said.

On the other hand, he stressed the government has published regulations which permit us to improve and shorten the time and costs of issuing and obtaining permits.

Merino assured that with administrative silence the deadlines will be reduced substantially, thus demonstrating Peru is at the height of globalization by becoming more competitive.


Published: 5/19/2013
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