By: Richard Moreno Bustos
Recent years have witnessed mining sector growth and the dramatic increase in the profits of mining companies in the country, utilities are not necessarily explained by improvements in productivity levels, but by an exogenous factor: the extraordinary increase in international prices of metals.
In 2006, the Government decided to seek a "voluntary mite" of mining companies in a context where it is proposed, from different sectors, the establishment of a "Tax on profits," as well as requiring the payment of mining royalties to the "Large Scale" based on the law passed in 2005.
Recent years have witnessed mining sector growth and the dramatic increase in the profits of mining companies in the country, utilities are not necessarily explained by improvements in productivity levels, but by an exogenous factor: the extraordinary increase in international prices of metals.
In 2006, the Government decided to seek a "voluntary mite" of mining companies in a context where it is proposed, from different sectors, the establishment of a "Tax on profits," as well as requiring the payment of mining royalties to the "Large Scale" based on the law passed in 2005. The origin of that "Pence Mining" or "voluntary contributions" or "Mining Fund, whose official name is" Mining Program of Solidarity with the People "(PMSP) represents 3.75% of Net Profits mining companies have signed an agreement with the State under the DS 071-2006-EM. However, these contributions depend on the roll of the "average price of metals," understanding that those prices settle below the "reference prices" [1] , annual disbursements be suspended.
According to the information you provide the Ministry of Energy and Mines in the area of \u200b\u200bAncash department we have 18 mining companies conducting mining activities in earnest. Of those companies, seven (07) are considered high and medium scale mining, among which are the most representative of five: "Antamina", "Barrick Mishquichilca", "Santa Luisa", "Huallanca" and "Flow" also are those who signed the agreement with the state "for PMSP.
For now, the disbursements of the 4 mining companies in Ancash (between 2007 and 2010) amounted to S /. 677.9 million, taking the contribution of the Antamina Mining Company representing 91% (619.7 million) of the total. However, this opportunity for funding major projects in Ancash, do not appear to be translated into relevant agreements between the state and mining companies, so as not noticeable efforts to establish financing policies using these and other resources generated the boom in mining.
Regarding initiatives transparency, the Antamina Mining Fund publishes relevant information regarding the disbursement and use of the resources of his "contribution" on its Web site [2] . However, the funds disbursed by the second most important company in Ancash, such as Barrick Mishquichilca (about S /. 50.9 million), no evidence mechanisms "Transparency" its management contribution, which explains why their priorities and impacts remain a secret for most of the authorities and population concerned.
This 2011 there will be a final payment in April, recall that marks the period of 5 years of contributions, in that sense it is good to develop assessments in addition to initiating a debate heights to express our opinion on the permanence of these "mites" or a tax on windfall profits of mining companies.
Will our current congressmen, congressional candidates and newly elected authorities at the height of this discussion? you have the floor.
[1] Prepared by SUPPORT at the request of the National Society of Mining, Petroleum and Energy.
[2] That has allowed it to occupy first place in the Rankig 01 and 02 mining companies more transparent, Grupo Propuesta Ciudadana, in relation to the Voluntary Contribution Mining Program of Solidarity with the People.
