Latest news with #Montero
Yahoo
6 days ago
- Business
- Yahoo
Peru anticipates slight increase in copper production
Peru, reputed to be the world's third-largest copper producer, is set for a modest increase in copper production to 2.8 million tonnes (mt) in 2025, while mining investments are expected to reach at least $4.8bn (17.4bn new sol), reported Reuters. The country's Mines and Energy Minister, Jorge Montero, highlighted these projections, alongside growing concerns over illegal gold mining activities, during a press conference on Tuesday. The mining sector, a pivotal industry for the country, attracted investments totalling $4.96bn in 2024, he said. The Peruvian Government is intensifying its focus on illegal gold mining following the recent murder of 13 mine workers in the gold-abundant Pataz region in northern Peru. Montero expressed that despite the destruction of illegal mines and tunnels by army troops and police, the area remains perilous, with high gold prices fuelling unlawful activities. Following the incident, President Dina Boluarte announced a 30-day mining suspension in the district earlier in May. The government is also planning to set up a military base and enforce a curfew to tackle the violence associated with illegal mining. The victims were employees of a local company, R&R, contracted by gold mining company Poderosa. The clampdown in Pataz has seemingly pushed illegal gold mining into new territories including the Cordillera del Condor mountains on the border with Ecuador, the report said. Gold exports from Peru reached $15.5bn in 2024, an increase from $11bn the previous year. Notably, illegal sources are believed to account for around 40% of these exports, as per industry data and the country's financial regulator. Montero also noted a rise in informal and illegal copper mining in the southern regions of Apurimac and Arequipa, although it constitutes a minimal fraction of national production. The Apurimac region hosts the top copper mine, Las Bambas, operated by MMG, while Teck, in partnership with Mitsubishi Materials, is developing the Zafranal copper project in Arequipa. Artisanal copper mining has become a significant source of income for many in the Andean region of Peru, despite conflicts with larger mining companies. Montero reported that formal mining operations produced 660,000mt of copper in the first quarter of 2025, a nearly 4% increase over the same period in the previous year. More than $1bn was invested in the mining sector from January to March, with expectations of further funding for mine expansions, exploration and new equipment. "Peru anticipates slight increase in copper production" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
6 days ago
- Business
- Yahoo
Peru allows miners to seek permits in area removed from Nazca Lines protection
BOGOTA, Colombia (AP) — Peru announced Tuesday that miners who had been operating illegally in a large protected archaeological reserve around the famous Nazca Lines will now be able to start the process of obtaining mining permits, after the government reduced the protected area by 42%. Energy and Mines Minister Jorge Montero said those working in the area must now legalize their mining activities since the zone is no longer designated as archaeological heritage. 'You're fully illegal when you operate in a place where mining is banned ... but since that cultural heritage restriction no longer exists, they're no longer in violation — they'll need to formalize their operations,' Montero said in a press conference in Lima on Tuesday for correspondents working for the international media. He added that the government does not yet know how many miners are currently active there. The area in question forms part of a UNESCO-recognized World Heritage Site, home to the Nazca Lines — massive geoglyphs etched into the desert thousands of years ago — and one of Peru's most fragile desert ecosystems. Last week, the Ministry of Culture issued a resolution reducing the protected area around the Nazca Lines by 2,397 square kilometers (925 square miles). The reserve, created in 1993, was set at 5,633 square kilometers (2,175 square miles) in 2004. 'It's incredible how the government is not even interested in the heritage of our ancestors that is unprotected, and will be destroyed without any control,' Peruvian environmental lawyer, Cesar Ipenza, told The Associated Press. Ipenza said once the miners enter, they will create huge environmental impacts, and will not assume responsibility. 'And now that the government has released the area from its protection, mining petitions have already started to appear,' he said. Culture Minister Fabricio Valencia said the reduction was based on 'over 20 years of rigorous studies' and that the true archaeological reserve is about 3,200 square kilometers (1,235 square miles). On Saturday, he acknowledged on local Peruvian media that mining was taking place within the reserve. Valencia said the UNESCO World Heritage site that contains the Nazca Lines themselves, covering about 450 square kilometers (174 square miles), was not affected by the change. The AP reviewed the resolution but found no details about the studies justifying the reduction. Requests for those studies went unanswered and UNESCO told AP it had not been notified by Peru of the change and that it will seek information from the government. In past years, Peru's Culture Ministry, prosecutors, and media reported illegal mining inside the protected reserve, including the destruction of mining machinery and camps. ___ The Associated Press' climate and environmental coverage receives financial support from multiple private foundations. AP is solely responsible for all content. Find AP's standards for working with philanthropies, a list of supporters and funded coverage areas at
San Francisco Chronicle
6 days ago
- Business
- San Francisco Chronicle
Peru allows miners to seek permits in area removed from Nazca Lines protection
BOGOTA, Colombia (AP) — Peru announced Tuesday that miners who had been operating illegally in a large protected archaeological reserve around the famous Nazca Lines will now be able to start the process of obtaining mining permits, after the government reduced the protected area by 42%. Energy and Mines Minister Jorge Montero said those working in the area must now legalize their mining activities since the zone is no longer designated as archaeological heritage. 'You're fully illegal when you operate in a place where mining is banned ... but since that cultural heritage restriction no longer exists, they're no longer in violation — they'll need to formalize their operations,' Montero said in a press conference in Lima on Tuesday for correspondents working for the international media. He added that the government does not yet know how many miners are currently active there. The area in question forms part of a UNESCO-recognized World Heritage Site, home to the Nazca Lines — massive geoglyphs etched into the desert thousands of years ago — and one of Peru's most fragile desert ecosystems. Last week, the Ministry of Culture issued a resolution reducing the protected area around the Nazca Lines by 2,397 square kilometers (925 square miles). The reserve, created in 1993, was set at 5,633 square kilometers (2,175 square miles) in 2004. 'It's incredible how the government is not even interested in the heritage of our ancestors that is unprotected, and will be destroyed without any control,' Peruvian environmental lawyer, Cesar Ipenza, told The Associated Press. Ipenza said once the miners enter, they will create huge environmental impacts, and will not assume responsibility. 'And now that the government has released the area from its protection, mining petitions have already started to appear,' he said. Culture Minister Fabricio Valencia said the reduction was based on 'over 20 years of rigorous studies' and that the true archaeological reserve is about 3,200 square kilometers (1,235 square miles). On Saturday, he acknowledged on local Peruvian media that mining was taking place within the reserve. Valencia said the UNESCO World Heritage site that contains the Nazca Lines themselves, covering about 450 square kilometers (174 square miles), was not affected by the change. The AP reviewed the resolution but found no details about the studies justifying the reduction. Requests for those studies went unanswered and UNESCO told AP it had not been notified by Peru of the change and that it will seek information from the government. In past years, Peru's Culture Ministry, prosecutors, and media reported illegal mining inside the protected reserve, including the destruction of mining machinery and camps. ___
Winnipeg Free Press
6 days ago
- Business
- Winnipeg Free Press
Peru allows miners to seek permits in area removed from Nazca Lines protection
BOGOTA, Colombia (AP) — Peru announced Tuesday that miners who had been operating illegally in a large protected archaeological reserve around the famous Nazca Lines will now be able to start the process of obtaining mining permits, after the government reduced the protected area by 42%. Energy and Mines Minister Jorge Montero said those working in the area must now legalize their mining activities since the zone is no longer designated as archaeological heritage. 'You're fully illegal when you operate in a place where mining is banned … but since that cultural heritage restriction no longer exists, they're no longer in violation — they'll need to formalize their operations,' Montero said in a press conference in Lima on Tuesday for correspondents working for the international media. He added that the government does not yet know how many miners are currently active there. The area in question forms part of a UNESCO-recognized World Heritage Site, home to the Nazca Lines — massive geoglyphs etched into the desert thousands of years ago — and one of Peru's most fragile desert ecosystems. Last week, the Ministry of Culture issued a resolution reducing the protected area around the Nazca Lines by 2,397 square kilometers (925 square miles). The reserve, created in 1993, was set at 5,633 square kilometers (2,175 square miles) in 2004. 'It's incredible how the government is not even interested in the heritage of our ancestors that is unprotected, and will be destroyed without any control,' Peruvian environmental lawyer, Cesar Ipenza, told The Associated Press. Ipenza said once the miners enter, they will create huge environmental impacts, and will not assume responsibility. 'And now that the government has released the area from its protection, mining petitions have already started to appear,' he said. Culture Minister Fabricio Valencia said the reduction was based on 'over 20 years of rigorous studies' and that the true archaeological reserve is about 3,200 square kilometers (1,235 square miles). On Saturday, he acknowledged on local Peruvian media that mining was taking place within the reserve. Wednesdays Columnist Jen Zoratti looks at what's next in arts, life and pop culture. Valencia said the UNESCO World Heritage site that contains the Nazca Lines themselves, covering about 450 square kilometers (174 square miles), was not affected by the change. The AP reviewed the resolution but found no details about the studies justifying the reduction. Requests for those studies went unanswered and UNESCO told AP it had not been notified by Peru of the change and that it will seek information from the government. In past years, Peru's Culture Ministry, prosecutors, and media reported illegal mining inside the protected reserve, including the destruction of mining machinery and camps. ___ The Associated Press' climate and environmental coverage receives financial support from multiple private foundations. AP is solely responsible for all content. Find AP's standards for working with philanthropies, a list of supporters and funded coverage areas at
The Hill
6 days ago
- Business
- The Hill
Peru allows miners to seek permits in area removed from Nazca Lines protection
BOGOTA, Colombia (AP) — Peru announced Tuesday that miners who had been operating illegally in a large protected archaeological reserve around the famous Nazca Lines will now be able to start the process of obtaining mining permits, after the government reduced the protected area by 42%. Energy and Mines Minister Jorge Montero said those working in the area must now legalize their mining activities since the zone is no longer designated as archaeological heritage. 'You're fully illegal when you operate in a place where mining is banned … but since that cultural heritage restriction no longer exists, they're no longer in violation — they'll need to formalize their operations,' Montero said in a press conference in Lima on Tuesday for correspondents working for the international media. He added that the government does not yet know how many miners are currently active there. The area in question forms part of a UNESCO-recognized World Heritage Site, home to the Nazca Lines — massive geoglyphs etched into the desert thousands of years ago — and one of Peru's most fragile desert ecosystems. Last week, the Ministry of Culture issued a resolution reducing the protected area around the Nazca Lines by 2,397 square kilometers (925 square miles). The reserve, created in 1993, was set at 5,633 square kilometers (2,175 square miles) in 2004. 'It's incredible how the government is not even interested in the heritage of our ancestors that is unprotected, and will be destroyed without any control,' Peruvian environmental lawyer, Cesar Ipenza, told The Associated Press. Ipenza said once the miners enter, they will create huge environmental impacts, and will not assume responsibility. 'And now that the government has released the area from its protection, mining petitions have already started to appear,' he said. Culture Minister Fabricio Valencia said the reduction was based on 'over 20 years of rigorous studies' and that the true archaeological reserve is about 3,200 square kilometers (1,235 square miles). On Saturday, he acknowledged on local Peruvian media that mining was taking place within the reserve. Valencia said the UNESCO World Heritage site that contains the Nazca Lines themselves, covering about 450 square kilometers (174 square miles), was not affected by the change. The AP reviewed the resolution but found no details about the studies justifying the reduction. Requests for those studies went unanswered and UNESCO told AP it had not been notified by Peru of the change and that it will seek information from the government. In past years, Peru's Culture Ministry, prosecutors, and media reported illegal mining inside the protected reserve, including the destruction of mining machinery and camps. ___ The Associated Press' climate and environmental coverage receives financial support from multiple private foundations. AP is solely responsible for all content. Find AP's standards for working with philanthropies, a list of supporters and funded coverage areas at
