SHANGHAI, Jul. 18 (SMM) - Peru’s president-elect Pedro Pablo Kuczynski proposed to loosen domestic environmental protection requirements to simulate investment in copper smelting, enanchu.com reports.
He believes irrational environmental protection standard has restricted domestic mining investment. Current environmental protection standard is called the strictest standard in the world by the National Mining, Petroleum and Energy Society of Peru (SNMPE).
Peru’s export value of mineral products is expected to increase 25% after expanding domestic smelting capacity.
Large copper smelters including Southern Copper Corporation protested and were forced to shut down after the current standard came into force.
Kuczynski announced last week La Oroya smelter will restart soon, which produces copper, lead and zinc. The smelter was closed in 2009 due to pollution and cash problem.
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