Peru: Peru’s Mines and Energy Ministry (MEM) accelerated the evaluation of environmental impact studies (EISs), according to Minister Carlos Herrera Descalzi. In addition, the minister observed that mine development, as the biggest driver of economic development in the country, should go hand in hand with territorial mapping, which must be carried out as soon as possible, Business News Americas reported.
“This has led MEM to take greater care when approving EISs and therefore there is a long queue that has exceeded the maximum limits. This is due in part to project demand over the last few years but also because of reduced installed capacity,” he added.
The minister also said that while the standards and goals of EISs should be the responsibility of the environment ministry, MEM should remain in charge of evaluating the studies.
The mines and energy sectors accounted for 76.9 percent of Peru’s total exports in H1.
Peru is the world’s second largest silver producer with output of 116Moz last year, according to the US-based Silver Institute. The country is also the second largest copper producer with an 8 percent share of the world market in 2010, and the second biggest zinc producer. It is the top gold producer in Latin America and sixth globally.
The country’s mining portfolio currently comprises 44 new projects to be carried out up to 2016 with investments of USD 42.5 billion, according to MEM.
Source: Utility Products