Due to the blockade carried out by protesters from the community of Urinsaya in the Cusco province of Espinar, the mining company MMG Las Bambas has not sent copper to the port of Matarani in Arequipa, according to the Bloomberg agency. However, the source cited by the agency explained that copper production remains at normal […]
Tag: mining
Mining: Environmental Commission in Chile approved the nationalization and put an end to concessions
Updated on 03/06/2022 10:57 am Yesterday, the Commission on the Environment and Economic Model of the Chilean Constitutional Convention voted on 12 proposals related to mining exploitation and property in Chile, submitted by conventional parties or through popular initiatives, advancing towards the nationalization of mining companies once the future Magna Carta is approved. The newspaper […]
Codelco profits increased by 256%
The Chilean state-owned Codelco reported that during 2021 it obtained benefits of US$7,394 million, which means 256% more than in 2020; thus achieving its best result in 9 years, as a result of the favorable situation for copper. Octavio Araneda, executive president of Codelco, explained that this result was the result of the increase in […]
Ecuador suspends mining in the Amazon area affected by illegal extraction
The Government of Ecuador announced that it temporarily suspended mining rights in an area of the country’s Amazon, affected by severe pollution caused by illegal mineral extraction. The Minister of Energy, Juan Carlos Bermeo, during an appearance before the National Assembly (Parliament), announced that all mining rights in force in the Yutzupino region, near the […]
Bolsonaro issues decrees to promote gold mining in the Amazon
Brazilian President Jair Bolsonaro issued two decrees for gold prospecting with a focus on the Amazon rainforest, as published Monday in the Official Gazette. The Program for the Promotion of Small and Artisanal Mining, created by one of the decrees, seeks to strengthen policies and stimulate best practices, according to the text. The Amazon “will […]
Mining generated more than S/ 3,496 million in transfers for the southern regions
According to the latest edition of the Mining Statistics Bulletin of the Ministry of Energy and Mines (Minem), the transfers of resources generated by mining to the regional and local governments of the South macro regionwhich include the Mining Canon, Legal and Contractual Mining Royalties, and Validity and Penalty Law, reached more than S/ 3,496 […]
Oil companies paid US$ 1,241 million in royalties to the State in 2021
The National Society of Mining, Petroleum and Energy (SNMPE) reported that the companies that work in the sector hydrocarbons They paid a total of US$ 1,241 million in royalties to the State during 2021. This figure represents a growth of 143.3% compared to the US$ 510 million that oil companies paid for royalties in 2020. […]
MEF: changes to the mining tax regime will be worked on with Congress
The head of the Ministry of Economy and Finance (MEF), Oscar Graham, referred to the changes to the mining tax regime that were pending in the previous administration of former Minister Pedro Francke, and pointed out that his office continues to work on the proposal that they will present to the Congress of the republic. […]
Áncash led the production of copper, zinc and silver during 2021
The Mining Statistics Bulletin (BEM) of the Ministry of Energy and Mines (Minem) revealed that Áncash became the main copper-producing region during 2021 with an accumulated 464,909 fine metric tons (FMT) of the metal, which reflects a growth of 16.3% compared to the result of 2020 (399,791 TMF). What’s more, represents 20.2% of the total […]
Newmont strengthens presence in Yanacocha and Peru
Yanacocha Sulfidesproject called to produce 6.5 million ounces of gold and 1,200 million pounds of copper per year from 2024, now has a new majority shareholder, after the Peruvian company Buenaventura sold 43.65% of its participation to Newmontwhich already held 51.35%, for a total of US$300 million, plus contingent payments linked to higher metal prices […]