Peruvian presidential candidate Fujimori wants to speed up the development of copper projects in Peru

Published: May 24, 2021 08:26

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[Peruvian presidential candidate Fujimori wants to speed up the copper development project in Peru.] Fujimori will focus on solving community problems to attract more investment, and her government will not seek to renegotiate the contract for the Camisea gas deposit and will promote approval of Tia Maria and Conga mining projects that have been rebelled by the community. The goal is to help "start new projects and make people feel profitable, especially in the areas where these activities take place".

Campaign advisers say Peruvian presidential candidate Keiko Fujimori (Keiko Fujimori) will support energy and mining projects if elected, in sharp contrast to left-wing rivals.

Consultant Rafael Baerlund (Rafael Belaunde) said in an interview that Fujimori will focus on solving community problems to attract more investment and that her government will not seek to renegotiate contracts for the Camisea gas deposit and will promote approval of Tia Maria and Conga mining projects that have been rebelled by the community. The goal is to help "start new projects and make people feel profitable, especially in the areas where these activities take place".

Keiko Fujimori will face Pedro Castillo (Pedro Castillo), and the two candidates in the presidential election final on June 6th to offer two opposing views on how to extricate themselves from the economic pressures caused by the pandemic. Opinion polls over the weekend showed that the results were too close and would reverberate in the metal market given that the world is relying on Peru to meet the growing demand for copper in the clean energy transition. The country is the second largest supplier of copper and a major producer of zinc, silver and gold.

Castillo (Castillo) defied opinion polls to win the first round of voting, vowing to nationalize Camisea and raise surcharges, and to seek a referendum on drafting a new constitution. His plan frightens investors, although he may face strong opposition from a divided legislature.

The Fujimori government will pay 40% of the mining revenue to the community, Belaunde said. The money will be sent directly to people's bank accounts, which will cost about 2000 soles ($540) a year, depending on the region. In addition, it will seek to improve the timeline and communication of the consultation process prior to mineral exploration and development. The current national environmental laws and regulations are strict enough.

Belaunde said that Peru is a country with great mining potential and that resolving social conflicts and improving the efficiency of spending on mining revenues will solve most of the problems. The Fujimori government will also support Amazon's oil exploration project to take advantage of the Tarara refinery in the north of the country. Indigenous communities oppose such initiatives because of the environmental damage caused by the project.

But Belaunde still points out that as long as there is community support and environmental protection, the government should promote the realization of its oil potential.

Copper production capacity mining Peru

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