📋 Tender Overview
The State would have a minority stake, but it will be managed by the miners in a self-taxation scheme. The Minister of Energy and Mines, Jorge Montero Cornejo, announced that his sector will promote the creation of a Mining Fund for Small-scale Mining and Artisanal Mining, which would have a minority participation of the State with seed capital and would be administered by the miners in a self-taxation scheme, so that formalized mining activity on a small scale can be promoted.
We are going to promote the creation of this mining fund so that it is a vehicle that makes financial, tax and commercial incentives viable for small-scale miners, as well as their own technical assistance, he said in a meeting with representatives of the National Confederation of Small-scale Mining and Artisanal Mining of Peru (Confemin), led by its president, Maximo Franco Becker.
Minister Montero explained that miners who wish to participate in the benefits of this fund may register and commit to contribute an annual self-tax of 0.5% that could amount to about US$ 50 million per year.
With this fund, many plans will be made a reality, such as setting up processing plants, improving their recovery processes, as well as reducing the mercury footprint, said the head of the Ministry of Energy and Mines (MINEM).
At another time, Montero ratified the support for the process of formalization of small-scale and artisanal mining. We want to have a Law that serves for the development of Small-scale and Artisanal Mining for the next 50 years, and this is now a responsibility of the Energy and Mines Commission of Parliament, he stressed.
The head of MINEM also showed his interest in working closely with the Energy and Mines Commission of the Congress of the Republic to address the concerns of small-scale mining and make suggestions and recommendations.
I want to be attentive and informed, putting important issues on the table so that all this flows and moves forward, he stressed.
Finally, he agreed with the creation of a working table with Confemin whose purpose will be to analyze issues related to Small-scale and Artisanal Mining in order to find solutions. It will be a very transparent and open working group, he said.
