Press Release

Regions of Peru received more than 10,955 million soles from mining royalties during 2022

Bnamericas Published: Friday, January 06, 2023

By Ministry of Energy and Mines

January 6, 2022

This is a machine translation of the original press release issued in Spanish

The Ministry of Energy and Mines (MINEM) reported that the transfer of resources to the regions generated by mining activity, which include the Mining Canon, Legal and Contractual Mining Royalties, and Law of Validity and Penalties totaled more than S in December 2022. / 10,955 million, according to the latest edition of the Mining Statistical Bulletin (BEM).

It should be noted that, for the second consecutive year, the amount transferred exceeds the annual historical maximum for said mining concepts.

These resources constitute an important source of financing for regional and local governments, since they are used for the execution of public works, with the purpose of generating jobs and improving the quality of life of citizens in various regions of the country and in especially those who live in areas adjacent to mining projects.

Analyzing the transfers, according to mining resources, it is reported that the Mining Canon transferred this year was greater than S/ 7,844 million. This result was due to the higher levels of production, as well as the increase in the price of metals, which has translated into higher collections.

Regarding transfers for Legal and Contractual Mining Royalties, as of December of this year, they exceeded S/ 2,806 million. The amounts transferred for this concept come from the payments made by the mining titleholders to the State for the exploitation of metallic and non-metallic mining resources, depending on their operating profits.

The statistical document, prepared by the General Directorate of Mining Promotion and Sustainability of MINEM, indicates in relation to the Law of Validity and Penalties, that this concept is collected and distributed by the Geological, Mining and Metallurgical Institute (INGEMMET), and, between January and October 2022 reached more than S/ 304 million. It should be noted that all mining titleholders make annual payments to keep their mining concessions valid.

The regions that received the largest amounts of resources generated by mining activity were: Áncash with S/ 2,867 million and a participation of 26.2% of the total transferred. Likewise, the second place was occupied by Arequipa with S/ 1,485 million, which represents 13.6% of the total; and, finally, Ica was in third place with S/ 1,278 million, an amount that is equivalent to 11.7% of the total transferred.

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