Peru's Energy and Mines Minister Susana Vilca announced a series of legal initiatives aimed at speeding up the arrival and execution of investment in
mining exploration for the South American country.
Her remarks were made on the main day of exhibition, within the framework of
PDAC 2020, the largest mining event in the world held annually in Toronto, Canada.
In this regard, she referred to the changes in the Environmental Protection and Management Regulations for activities of exploitation, transport, mining storage, benefit, and general labor, which optimize administrative procedures, increasing the predictability for investors when processing permissions required for the development of the activity.
Similarly, with the aim of reducing bureaucratic barriers and administrative costs, Minem has made changes in the Environmental Management and Protection Regulations, which have been pre-published through a ministerial resolution.
According to the minister, measures to promote mining investment were enacted at the end of last year.
One of the measures included the three-year extension of the benefit of the General Sales Tax (IGV) and Municipal Promotion Tax (IPM) refund for the holders at the exploration stage.
(END) MDV/JJN/RMB
Published: 3/2/2020