Peru’s Prime Minister Salomon Lerner is creating a new mining plan of action that phases out illegal miners and promotes sustainable mining development.
The support of foreign investment can help rally the local market and single country exchange traded fund if this plan can play out. A recent credit upgrade from Fitch Ratings may also help attract investment.
“We are very clear that informal mining should not exist in the country and we’re fighting it,”Prime Minister Salomon Lerner said on PeruThisWeek. “And we want to do justice with sustainable mining, which is an example to the world, to ensure water resources and resolve problems with agriculture,” he said.
The goal Lerner is aiming for is to ensure the growth of responsible mining in which both the environment and the community is respected. In turn, this will help to develop communities.
The government is already in talks with foreign and local investors about social funds which could hep be the catalyst this country needs to move to the net phase of development.