Guaranteeing a predictable, stable and transparent regulatory framework that promotes private investment in the Peruvian mining and energy sector, with consistent signals that restore investor confidence, are the immediate tasks that must be assumed by the government and specifically the Ministry of Energy and Mines (MINEM).
This was stated in a recent meeting with the Minister of Energy and Mines, Carlos Palacios Pérez, the vice presidents of the National Society of Mining, Oil and Energy (SNMPE) Magaly Bardales from the mining sector, Carlos Mario Caro from the electricity sector and María Julia Aybar from the sector hydrocarbons.
The union representatives called on the minister so that his portfolio dedicates its best efforts to technically attend to the pending agenda of the mining and energy sector, in a technical manner that is unrelated to political interests: “It is important that the Ministry of Energy and Mines, which is the governing body of the sector , have honest, qualified professionals with extensive experience and who know the mining and energy industry technically, legally and economically”.
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“In order to reverse the crisis caused by the Covid-19 pandemic and ensure economic reactivation, it is necessary to preserve the sustainability and competitiveness of the mining and energy industry, which has the strengths to become an engine for sustained development in Peru”, The SNMPE referred when citing that value should be given to our natural resources for the growth and well-being of the population.
Along these lines, they noted that in order to strengthen the development of the electricity sector, a stable, predictable, promoter, agile and expeditious regulatory framework is required; while the hydrocarbon industry needs measures that encourage the reactivation and promotion of investments so that it can overcome the crisis it has been facing for three years.
For its part, the mining sector needs clear signs of stability and legal certainty in order to make its project portfolio of more than 53 billion dollars viable. This is urgent, since after Quellaveco starts operations this year, mining investment does not have large projects that are aimed at starting construction in the short or medium term.
The directors of the SNMPE also stated that the MINEM and other State institutions linked to the mining and energy activities must focus on providing a comprehensive solution to permitting and paperwork, as well as social conflict, which have become the greatest obstacles to carrying out new investments and projects.
“The MINEM must not deviate from its real essence of being a technical and highly specialized ministry, where meritocracy must prevail, allowing qualified, upright and experienced professionals to lead the development of the mining, electricity and hydrocarbon sectors,” they pointed out.
