Tuesday, September 14, 2021
11:00 – 12:00 EST | 10:00 – 11:00 Lima
On July 28th, 2021, Pedro Castillo, a former teachers union leader and head of a party that counts among its leaders avowed Marxist-Leninists, became the 63rdPresident of Peru. The mining sector was not amused. Not long before his candidacy gained traction, Castillo claimed that he wanted the government to claim up to 80% of the profits of the nation’s mines. His rhetoric has softened considerably since, but mining remains the point of focus of a tax raising effort needed to pay for the economic devastation wreaked by some of the world’s strictest COVID lockdowns.
Negotiations with mining companies and legislative efforts in the months ahead will define how the mining sector is treated by the Castillo administration over the next five years. History has taught that new regulations and taxes tend to long outlive any one administration, such that Peru’s mining investment landscape is about to be re-carved — with long-term repercussions.
In our September 14th Coffee Chat, we will discuss what lies ahead for the mining sector in Peru and how mining companies are likely to react and adjust to this new reality. Come join the discussion.