Presidential candidate in Peru warns copper mining companies

February 23, 2021

Mining companies in Peru were given a warning from presidential candidate Yohny Lescano that if elected he would look to make the state the ultimate owner of resources in the copper-rich Andean country.

Reuters reported that Lescano is currently second in the polls ahead of an April 11 election. In a conference with the foreign press, he said that he would draw up a new register of where mining could take place and seek “equitable” prices for the country, which is the world’s second-largest producer of copper.

Lescano doubled his support to 10 percent in February and closed the gap between himself and former soccer goalkeeper George Forsyth, according to Ipsos Peru. Many Peruvians remain undecided over who to support.

The 62-year-old lawyer and legislator representative of the Popular Action party said while he was not in favor of nationalization of mining, Peru must always be the owner of its resources, which are currently leased off in concessions. “That must be modified,” he said.

“That’s why they give ridiculous prices ... I think this is a very important part of being able to start collecting more, to get better equitable income, just for Peru. That does not mean that it will be nationalized, far from it,” he said.

He added he was against Southern Copper’s huge Tia Maria copper project, already halted for a decade by a social conflict, and that he would review a $5 billion project by state-owned Petroperu to modernize the Talara refinery.

Lescano added he was in favor of creating “a flag carrier,” or state airline, and that he would promote a larger role for the state in remote areas of the country.



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