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Stock impact report

Peru's mining execs'lose faith' in gov't despite moderate shift [Financial Post (Toronto, Ontario, Canada)]

Southern Copper Corporation (SCCO) 
Last southern copper corporation earnings: 2/26 04:01 pm Check Earnings Report
US:NYSE Investor Relations: southernperu.com/eng/invrel
Company Research Source: Financial Post
left-wing President Pedro Castillo’s ability to boost the sector, even after his shift away from early proposals to sharply raise taxes on the industry. Advertisement Mining executives interviewed by Reuters pointed to social protests by Castillo supporters that led to month-long production halts at two major copper mines. They said his failure to quell social uprisings also delayed a pipeline of new mining projects worth $53 billion at a time of high copper prices. Castillo, who took office a year ago this week, was elected with overwhelming support in mining districts, as he pledged to redistribute Peru’s mineral wealth. On the campaign trail, he accused corporations of “plundering” resources instead of sharing with local communities. Since then, he has moderated his position toward the industry that accounts for 60% of the country’s exports, appointing an orthodox economy ministry and meeting with executives both in Peru and on trips abroad. Still, industry executives complain Show less Read more
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