Peru's Energy and Mines Minister Gonzalo Tamayo projected mining investment recovery towards 2018 during his speech at the conference Building Peru: The Road to the UN's 2030 Agenda for Sustainable Development.
“Mining companies developing global mega projects respond to world conditions in terms of supply and demand. Many of these enterprises are working on their balance sheets and finding solutions, but we do remain optimistic that we'll see mining investment recovery signs by 2018,” the government official said.
He also noted global mining mega projects in the commercial operations stage represent a significant contribution to GDP. In this respect, works are underway in order to activate other large-scale ventures.
Social Progress
As for social advancement, Tamayo assured the Ministry is working on issues inherited from the preceding government.
“We are focused on solving pressing issues identified upon taking office. While a number of relevant matters are already foreseen in the legal framework, mining development relates to more than just the mining framework. Thus, the government aims to bolster the social progress scheme,” he said.
Regarding medium and large-scale mining, Tamayo said his portfolio is seeking to boost community relations in terms of compliance with objectives and agreements made at some point by the government.
“We have found considerable delays in agreements reached at various levels by the previous administration,” he pointed out.
Legislative Powers
Likewise, the Energy and Mines Head commented on mining formalization legislative powers the Executive requested to Congress.
“This poses a great challenge since it is a multidisciplinary topic. Not only does it include mining, but also input treatment and commercialization, among others,” he said.
(END) MMG/RGP/DHT/RMB
Published: 10/4/2016