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Mining canon for regions reaches a record of S / 7,800 million

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So far in 2022, transfers by mining canon to local and regional governments registered a historical record in the country and totaled S/7,844 million, which exceeds the peak reached in 2007, when it reached S/5,157 million.

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The current figure implies a significant jump compared to the canon in 2021, since it is 2.5 higher than the value reached last year, The Citizen Proposal Group specified, adding that the extraordinary profits reported by the main mining companies as a result of the increase in the price of minerals would be the main reason for the jump in transfers. This is because, during the second half of 2021 and the beginning of 2022, the price of copper was close to reaching the barrier of US$5 per pound.

Mining canon was 2.5 higher than the value reached in 2021. Photo: Andina.

Given this, “Southern Peru and Cerro Verde, companies that lead the national production ranking, reported increases in their profits, before taxes, of 96% and 277%, respectively. Consequently, the Sunat registered at the end of 2021 a historical maximum regarding the contribution of the mining sector in the collection of income tax.

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The main regions benefiting from the increase in the mining canon are Áncash (+146%), Arequipa (+448%), Tacna (+117%), Moquegua (+135%), Ica (+218%) and Cusco (+117 %).

The data

Districts. San Marcos in Áncash (S/373 million), Ilabaya in Tacna (S/149 million) and Nuevo Chimbote in Áncash (S/146 million) received higher transfers.

Source: Larepublica

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