Election10 May 2021 15:04
I picked the info posted below from a mining company operating in Peru who were reporting on their results, when asked about the political scene he gave the following response.
Perhaps its nothing new but at least it is a reaction straight from the horses mouth from someone operating in Peru
Yeah. Well, Peru is really -- mining is very important in Peru. It's 10% of the GDP. 18% of the taxes.
40-whatever-percent of the exports of the country. So it's the elephant in the room in terms of the economy. And it always comes as a topic of discussion with every presidential election. So this is the case now.
We have two candidates. One, Keiko Fujimori and the other Pedro Castillo. They have also addressed their initiatives around mining and their impact to the country and their view. There are discussions of government take about redistributing the benefits of the mining revenues into the population and the rest.
Having said that, Peru is a demography. So there is a -- if -- for the initiatives to move forward, they will have to go through Congress and through a strong debate. Keep in mind that the Congress has already been elected, and none of the two candidates have a majority. They have minorities in Congress.
So any decision-making in terms of anything, but in particular, to mining, which is what we're discussing, would have to go through Congress and through a good debate. We are now, as you said, in the middle of the campaign. So it's a bit uncertain. You know how campaigns are.
So let's wait for the result and see what comes out of this. And then eventually, we will engage -- the industry will have to engage in a conversation and together with a political adversary.
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