Glencore announced a $7.1 billion payment to its investors on Wednesday as high oil and coal prices helped it post a record annual profit, but said rising mineral production costs could weigh on companies. future earnings. In preliminary 2022 results, the miner and trader said it reduced net debt to $75 million by the end […]
Tag: mining
More than 100,000 jobs are at risk
Mining and tourism paralyzed. Both are key activities for the economy of Cusco and the country. Protests paralyzed them with the danger of thousands staying on the streets. Blockades at strategic points in the Southern Mining Corridor paralyzed the activities of the companies Antapaccay in Espinar, Hudbay in Chumbivilcas and Las Bambas in the Apurímac […]
Las Bambas will stop its production from February due to constant blockades
Mining company will not be able to continue with production of copper. Progressive deceleration and evacuation of workers began. Apurimac. the mining company MMG Las Bambas announced on Sunday that if the interruptions in transport as a result of the protests due to the serious crisis in the country persist, will not be able to […]
Cusco loses almost three million due to stoppage of the Antapaccay mine
Local workers and suppliers are also affected. Nearly 20,000 people are reducing their indirect income from mining activity. With the suspension of the mining operations of the company antapaccayCusco loses almost S/3 million per day and the Espinar province and its districts where they operate S/ 540 thousand per day due to canons and royalties. […]
Cajamarca, Apurímac and Arequipa lead mining investments in 2023
The Minem detailed that there are 47 mining projects in 18 regions, which imply a joint investment of US$53,715 million. According to the Portfolio of Mining Investment Projects 2023, prepared by the Ministry of Energy and Mines (Minem), there are 47 mining projects in 18 regions that involve a investment of US$53,715 million, with Cajamarca, […]
Eight mining projects would benefit from IGV exemption
Mining companies that have projects in the exploration phase will continue to have tax benefits until December 31, 2027. The State will return the General Sales Tax (IGV) and the Municipal Promotion Tax that they pay during their exploration work. The norm was already published in the newspaper El Peruano on December 30, 2022 and […]
Minem approves modification of the contract for the exploitation of hydrocarbons in Block 31-C
The Ministry of Energy and Mines (Minem) authorized the modification of the contract for the exploitation of hydrocarbons in Block 31-C, which is located in the city of Pucallpa, province of Coronel Portillo, Ucayali. Thus, in accordance with Supreme Decree No. 001-2023-EM, the substitution as corporate guarantor in the Orazul Energy Peru contract was approved. […]
MEF aims to eliminate obstacles and bottlenecks in mining and investment in infrastructure
The head of the Ministry of Economy and Finance (MEF), Alex Contreras, spoke before investors and legislators of the United Kingdom the “economic stability” of Peru, in the midst of the social and political crisis that the country has been going through, where he recognized that although it could generate an impact on the economy, […]
Due to shortages due to blockades, the Antapaccay mine operates with only 38% of its workforce
Cusco. The constant blockades registered in the different highways have prevented the antapaccay company supplies itself with inputs for its operations, as well as for feeding its workers, which is why currently, according to a statement from the company itself, they operate with only 38% of their workforce. Antapaccay noted that its workforce, made up […]
Mining projects for US$10,555 million will be unlocked
The government of Dina Boluarte He has in mind to prioritize the unlocking of nine mining projectswhich total a portfolio of US$10,555 million, ratified Prime Minister Alberto Otárola during his presentation in Congress to request a vote of confidence. These projects, including the expansion of Toromocho, Sulfuros Yanacocha and the extension of Antamina, are at […]