For the first vice-president of the Peruvian Institute of Mining Engineers (IIMP), Eng. Roberto Maldonado, the commissioning of mining projects and operations will allow to cover the fiscal deficit that Peru is currently experiencing.

"The generation of more mining projects and operations can increase tax collection and help cover the fiscal deficit, which is already being generated. We have to broaden the base otherwise we are going to cause a serious problem in fiscal terms and, especially, when Peru has the opportunity to generate projects that can help reduce the fiscal deficit", he said.

Furthermore, in response to the myth that mining does not contribute or contributes very little to the country's tax collection, he pointed out that a study, prepared by EY, showed the opposite and that the tax burden applied to Peruvian mining is above that of other competing countries.

"I am not suggesting that there should be a reduction of the tax base; but the solution is not to generate a burden on a burden as big as that of mining. In view of this, we have to generate more investment possibilities to be able to generate our tax base", he commented.

Development of projects in Cajamarca

During his presentation at the conference "The Role of Mining in Peru’s Development", as part of the Mining Engineering week, Roberto Maldonado highlighted the important portfolio of 46 projects for a combined investment of US$ 56,000 million.

He added that in this group, the Cajamarca region has a series of mining projects that must overcome either a business or social decision, or even a relatively complicated context.

"In Cajamarca we have the Conga, Galeno and La Granja projects, which are investments in the order of US$ 5,000 million, US$ 3,500 million and US$ 4,800 million. Clearly Cajamarca has the greatest amount of investment possibilities; however, they cannot be executed due to business, social and even political reasons; and this means that the possibility of a northern hub is limited in the possibility of exploiting and taking advantage of these resources and projects that we have", he said.