Peru proposal to limit idle concessions sparks mining pushback

From miningweekly.com

Peru’s mining industry is warning that a bill moving through Congress to halve the time to hold unused concessions would end up discouraging investment and favoring informal operators. “It’s a blow to formal mining that could wipe out $60-billion in investments,” Gonzalo Quijandría, vice-president of mining and energy society SNMPE, told Canal N. The proposal, which passed committee this week and is headed for a floor debate, would cut to 15 years from 30 the period companies have to explore before a concession expires. Industry groups say it can take decades to discover and develop a deposit, while ... (full story)