Uranium legal framework getting closerRecently it was enacted the Law of the Public Sector Budget for fiscal year 2019 (1) and, interestingly, it was included a heading related to the regulatory framework for uranium:
LAW OF THE PUBLIC SECTOR BUDGET FOR FISCAL YEAR 2019
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CHAPTER III
OTHER PROVISIONS FOR THE EXECUTION OF PUBLIC EXPENDITURE
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Article 16th. Financial transfers allowed between public entities during Fiscal Year 2019
16.1. Authorize, in this Fiscal Year, the exceptional execution of the following financial transfers between entities, as detailed below:
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h) Those executed by the Ministry of Energy and Mines:
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iii. To the Peruvian Institute of Nuclear Energy (IPEN) up to the amount of S/. 14 270 094,00 (FOURTEEN MILLIONS TWO HUNDRED SEVENTY THOUSAND NINETY FOUR AND 00/100 SOLES), which are intended to:
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iii.4 Strenghtening of the regulatory capacity for the safe exploitation of uranium mining in Peru (phase: preparation), up to the amount of S/. 979 800,00 (NINE HUNDRED SEVENTY NINE THOUSAND EIGHT HUNDRED AND 00/100 SOLES).
(...) The entities and companies that receive the financial transfers within the framework of what has been established in this literal, will inform the Ministry of Energy and Mines of the physical and financial advances in the expenditure of those resources, in reation to their schedule of execution and/or the dispositions contained within the corresponding agreements and/or addendas.
For reference, S/. 1 = USD 0.30.
Also, in the context of the development of a new General Mining Law, at PERUMIN 34 President Vizcarra announced the creation of a High Level Commission for the improvement of mining activity regulation (2):
"My government is focused on that and has been working on the optimization of the regulatory framework. As the Prime Minister has announced, in the next few days we will publish the Supreme Resolution that makes up the High Level Commission for the improvement of mining activity regulations. (...)
Nothing comes from chance and the challenge continues and also commits the government in an effort to review and adapt policies and regulations; among them, that of the mining sector to achieve a balanced regulatory framework that promotes investment, but at the same time ensures compliance with the law and standards that we all want for sustainable mining. (...)
This is the first time that we have a high level technical dialogue and discussion platform to elaborate proposals and find consensus on strategic issues for mining development, and strengthen the governance and continuity of state policies."
I bet the uranium legal framework will be included in these discussions, so that the required articles and dispositions are put in place with the new General Mining Law. Although the work is taking more time than originally stated, there's no doubt it is being carried out.
(1)
https://www.mef.gob.pe/contenidos/presu_publ/sectr_publ/proye_2019/PL_Presupuesto_2019.pdf (2)
https://elcomercio.pe/economia/comision-alto-nivel-evaluara-mejorar-normativa-actividad-minera-afirma-martin-vizcarra-noticia-nndc-677424