There has been concern lately over our concession payments and keeping our Peruvian properties in good standing since the partial loss of one of our B.C. properties, the Carmi. So here is part of the Peruvian law that dictates what the payments are and the schedule.
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Effective law
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Every miner holds a mining concession or benefit is required to pay an amount of money to the State, in order to maintain current grant. This payment is known as "right to life".
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IN THE CASE OF A mining concession
? FROM RIGHT WHEN I PAY EFFECTIVE? |
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The obligation to pay the right term is annual, and born since you made your request:
YEAR 1
must pay when formulating your request.
YEAR 2
must pay between January 1 and June 30 of that year. The second year starts counting from January 1 of the year following the request made by the mining concession.
Year 3 and
As for the second year should pay between January 1 and June 30 of that year. The same rule applies to the following years.
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WHAT DO I PAY FOR EFFECTIVE LAW?
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If mining is a small producer or a producer artisanal miner qualified by the Mining Department of the Ministry of Energy and Mines, the amount you are required to pay for the right to life is:
If you are accredited as Smallholder Mining
$ 1.00 (one U.S. dollars) or the equivalent in national currency per hectare requested or granted. For example: If you ordered 800 hectares must pay for the right to life: $ 800, as 800 acres x $ 1.00 = $ 800.
If mining is credited as Producer craft
U.S. $ 0.50 (half a dollar) or the equivalent in national currency per hectare requested or granted. For example: If you ordered 800 hectares must pay for the right to life: $ 400 for 800 acres x $ 0.50 = $ 400.
If you do not count on such certificate or
belongs to the General System of Medium and Large Scale Mining:
The right to force payment is higher (U.S. $ 3.00 per hectare requested or granted).
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RIGHT WHERE PAYMENT EFFECTIVE?
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In the bank account that INGEMMET established for this purpose. When making such payment for the first time, you must indicate which corresponds to a new request.
To know the account number and the bank branch where you will pay, you can telephone the INGEMMET or approaching any of its offices. |
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WHAT IF I fail to pay the right EFFECTIVE?
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If not complied with paying the right effect for one year, such payment may be regularized in the following year. However, if you do not comply with the payment for 2 consecutive years, there would be the expiration of the request or mining concession. That is, the mining right is lost. |
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IN CASE OF A GRANT OF PROFIT, FROM WHEN do I PAY THE RIGHT TO EFFECTIVE?
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In the case of a grant of benefit, as in the case of the mining concession, payment is annual and must be performed from the year in which the applicant is applying for benefits. |
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AND WHERE DO I PAY FOR EFFECTIVE LAW IN THE CASE OF A GRANT OF PROFIT?
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In this case, the right to life also pay at any of the authorized banks to get paid INGEMMET law in force. The annual amount you must pay a small mining producer, holds a concession of profit corresponds to 0.0014 a Tax Unit (ITU) per MT / day.
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WHERE DO I GET MORE INFORMATION? |
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You can obtain more information on the website INGEMMET or calling of ALO INGEMMET , 618-9800. |
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http://www.minem.gob.pe/descripcion.php?idSector=1&idTitular=339&idMenu=sub157&idCateg=261
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