{"id":1966380,"date":"2023-07-07T08:00:01","date_gmt":"2023-07-07T12:00:01","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/analysis-peru-copper-miners-say-red-tape-snarling-red-metal-production-ramp-up\/"},"modified":"2023-07-07T08:04:17","modified_gmt":"2023-07-07T12:04:17","slug":"analysis-peru-copper-miners-say-red-tape-snarling-red-metal-production-ramp-up","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/analysis-peru-copper-miners-say-red-tape-snarling-red-metal-production-ramp-up\/","title":{"rendered":"Peru copper miners frustrated by bureaucracy hindering production increase."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fanalysis-peru-copper-miners-say-red-tape-snarling-red-metal-production-ramp-up%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1966380&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div class=\"entry-content\">\n<p>By Marco Aquino<\/p>\n<p>LIMA (Reuters) \u2013     Copper miners in Peru, already battling political uncertainty and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/mark-houck-pro-life-dad-targeted-by-biden-regime-acquitted-of-trumped-up-charges\/\" title=\"Mark Houck, Pro-Life Dad Targeted By Biden Regime, Acquitted Of Trumped-Up Charges\">regular protests<\/a>, say they have another hurdle to revving up stalled production of the red metal: too much red tape.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\" style=\"min-width: 320px; min-height: 50px;  text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-1'); });  \t<\/script>  <\/div>\n<div class=\"ad-slot__ad-label\">Advertisement<\/div>\n<\/p>\n<p>The South American country, the world\u2019s No. 2 copper producer, has seen output plateau in the last five years as political instability, revolving governments and flagging investment has let rival producer Congo almost overtake it.<\/p>\n<p>Mining investment is expected to drop by a fifth this year and company executives said that labyrinthine bureaucracy, worse than in other places, was jamming up new projects, a potential threat to copper output in the years ahead.<\/p>\n<p>\u201cGetting a mine operational in Peru can take 10-15 years if you don\u2019t hit major hurdles, far from the world average of about eight years,\u201d Southern Copper Chief Financial Officer Raul Jacob told Reuters on the sidelines of a mining event in Lima.<\/p>\n<p>He added there were some 230 \u201cadministrative processes\u201d with various authorities to start building a mine, compared to around a dozen just 20 years ago.<\/p>\n<p>\u201cThere are procedures that are repeated, the same information is delivered to different agencies that do not coordinate with each other\u2026 So what happens in practice is that all this prevents the project from moving forward.\u201d   <\/p>\n<p>Peru\u2019s copper growing pains pose a challenge for the mining-driven economy and to global supply with demand heating up for the metal that is key for the electrification shift. Neighboring No. 1 producer Chile has also seen production slide, dented by political uncertainty around taxes and regulation.<\/p>\n<p>The mining director at Peru\u2019s ministry of energy and mines, Jorge Soto, told Reuters work was being done to speed up processes with various state entities related to water use, the environment, resource protection and Indigenous communities.<\/p>\n<p>\u201cWe are working together to see which are the most important or fundamental standards that should be applied, and those that are not necessary which we can cut,\u201d he said. <\/p>\n<p>\u201cBut that doesn\u2019t mean it can be done overnight, because it\u2019s not easy in a very large state structure.\u201d<\/p>\n<p>WE NEED TO MOVE MORE QUICKLY<\/p>\n<p>The government, keen to speed up output, announced this year an agreement with the World Bank to review mining red tape to bring processes more in line with places where projects move forward faster, including Chile, Canada and Mexico.<\/p>\n<p>Until that happens, mining executives said Peru\u2019s $53 billion mining investment pipeline, largely copper, would only move forward slowly, despite government hopes that some $7 billion of that being unlocked in 2023 and 2024.<\/p>\n<p>\u201cNo one is talking about changing standards, but just moving more quickly,\u201d said V\u00edctor Gobitz, president of Peru\u2019s largest copper mine Antamina \u2013 owned by global mining giants BHP and Glencore \u2013 which has been waiting since last year for approval to extend the useful life of the deposit.<\/p>\n<p>Gold miner Newmont Corp said last month it would delay investment in its $2.5 billion Yanacocha Sulfuros project in Peru for at least two years to optimize its portfolio and increase shareholder returns.<\/p>\n<p>Southern Copper, meanwhile, has five projects worth some $8.6 billion on its slate. Among them is Tia Maria, stalled for a decade due to local environmental concerns, and Los Chancas, stalled by illegal mining within its concession.<\/p>\n<p>Gobitz, Antamina\u2019s president, also <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/analysis-peru-copper-miners-say-red-tape-snarling-red-metal-production-ramp-up\/\" title=\"Peru copper miners frustrated by bureaucracy hindering production increase.\">cited political issues including deadly protests<\/a> that roiled the country\u2019s Andean south at the start of the year, and the fact that since early 2022 Peru has seen six different mining ministers come and go.<\/p>\n<p>\u201cIf you have a permanent rotation of officials on key issues like this, everything becomes cumbersome,\u201d he said.<\/p>\n<\/p>\n<p> (Reporting by Marco Aquino; Editing by Adam Jourdan and Sandra Maler)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/analysis-peru-copper-miners-say\/attachment\/trucks-on-the-road-leading-to-chinas-mmg-las-bambas\/\"><\/a><\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/analysis-peru-copper-miners-say\/attachment\/peru-communities-reject-latest-proposal-to-end-las-bambas-mine\/\"><\/a><\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/analysis-peru-copper-miners-say\/attachment\/head-of-perus-largest-copper-producer-meets-with-rural-community\/\"><\/a><\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/analysis-peru-copper-miners-say\/attachment\/peru-communities-reject-latest-proposal-to-end-las-bambas-mine-2\/\"><\/a><\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/analysis-peru-copper-miners-say\/attachment\/a-peruvian-indigenous-community-demands-back-its-ancestral-lands-on\/\"><\/a><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>As Israel continues defending itself against terrorism in Jenin, one Jewish commentator explains why the Biden Administration is to blame. <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>A 17-year old who was reported missing for eight years is found alive and police now say he was actually never missing<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>The White House gets creative to avoid \u2018Cocainegate.\u2019<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>El Cajon Mayor, Bill Wells, sat down with One America\u2019s Stella Escobedo to talk about the homeless crisis in California<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>By Josh Ye and David Kirton HONG KONG (Reuters) -Alibaba Group Holdings and Huawei Technologies Co on Friday showcased new products, including\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>BRUSSELS (Reuters) -The European Union and Belgium\u2019s regional Flemish government will together invest 1.5 billion euros ($1.6 billion) in Belgian chip technology\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>By Jody Godoy (Reuters) -Twitter has threatened to sue Meta Platforms over its new Threads platform in a letter sent to the\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>MADRID (Reuters) \u2013 U.S. chipmaker Broadcom will invest in a European Union-funded programme to develop a semiconductor industry in Spain, Chief Executive\u2026 <\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Peru&#8217;s copper miners face obstacles in boosting production due to excessive bureaucracy, adding to their existing challenges of political uncertainty and protests. Despite being the second-largest copper producer globally, the country&#8217;s output has remained stagnant over the past five years.<\/p>\n","protected":false},"author":66,"featured_media":1966381,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[],"class_list":["post-1966380","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1966380","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1966380"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1966380\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1966381"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1966380"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1966380"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1966380"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}