Quote: "Peruvian Finance Minister Luis Miguel Castilla said Monday that the government is advancing in talks with mining companies on how best to increase taxes without affecting the sector's competitiveness. It is an important topic that requires a quick resolution," Castilla said in an interview with Radio Programas."
Let's hope this politician means what he says and that he can get enacted exactly what he proposes. A fair tax that can be cost factored into production yet won't be counter productive is fine. It will simple be priced into any deal. And chances are that if such a tax regime comes into effect early at the start of the new President's term, then he will be inclined not to raise the matter again. That should provide a window of stability which is exactly what we are looking for.
So bring on August and let fly with the news!
Cheers
