MEM: Peru will have shorter terms in Latin America
MEM: Peru will have shorter terms in Latin America to obtain mining permits
Thursday, May 16, 2013
The Ministry of Energy and Mines said the government is reviewing all processes so that the different sectors have to give an opinion and authorizations can rule mining projects in less time.
Lima (Andina). - Minister of Energy and Mines, Jorge Merino, reported today that the government works to Peru has the least time in Latin America to obtain permits required by law for mineral exploration.
He said the government is reviewing all processes so that different sectors have to give an opinion and permits to mining projects peremptory time to decide.
He acknowledged that times to approve permits in Peru are in many cases twice as slow-to other countries in the region with which it competes for mining investment, and should have shorter terms, which does not mean that the processes less stringent.
"It is that Peruvians are increasingly competitive, we live in a globalized world and compete for investment. We can not rest on our laurels, the fall in metal prices force us to review things, "he told Andina.
Merino recalled that the slowdown in Chinese and European economy are affecting the prices of metals and mining countries like Peru can do nothing to change this, but they can act on the Peruvian mining costs and remain competitive in the As you reduce your costs.
In this regard, said that in two weeks will begin the publication of the first rules that allow the acceleration of the processes to obtain permits and sectoral opinions for exploration and mining, thus reducing costs for investors.
"We are working because we need the country to continue developing their investments, Peru competes for investment and now Chile is more competitive to attract investments in mining," he said.
But he stressed that the country has many advantages which can be more competitive than Chile, among others, because it has new areas to explore and is a polymetallic country.
The minister said that all the world's major companies are reviewing their projects because their shareholders want these, where they contribute their capital, develop in predictable times.
"If this occurs and the issue of investment, more so in the budgets that are allocated for exploration. If there are factors that hinder the development of exploration investments or simply looking to other markets or other countries where more predictable, "he said.
He noted that being predictable is important because construction costs have risen mines in the world and it is now considered the social topic to consolidate a long term project.
"The commitment of the Ministry of Energy and Mines (MEM) is to coordinate with other sectors and investment companies for mining projects can be developed within the established time. I'm sure we will consolidate the position of Peru as a mining country, "he said.
Merino also said that these improvements will allow Peru to move up in the mining competitiveness index Fraser Institute of Canada. Currently Peru is located at position 40 of a list of 96 countries in this ranking that aims to show how attractive are each of the countries / regions for mining investment.