LatinNews Daily - 22 June 2018

Peru: Peru’s mining & energy ministry (Minem) has announced that mining company Minquest Peru SA has communicated its intention to forgo its concession to exploit the ‘Red beds 2’ mining area. The site is in the Pitumarca district in the province of Canchis which is situated in Peru’s Cusco region and is well known because it contains the Vinicunca mountain, a popular tourist attraction also known as the ‘mountain of seven colours’. Minquest, which is an affiliate of the Canadian firm Camino Minerals, was granted the concession on 16 March 2018, however, it has not initiated any exploration of the area. Minem has said that in coming days Minquest will formalise its decision to forgo the concession. The ministry also stated that it has begun technical consultations with relevant public entities with the objective of taking measures to conserve the Vinicunca mountain. In the same vein, Peru’s President Martín Vizcarra said that the government had a duty to “safegaurd and protect” the mountain which he called a “beautiful creation of nature”.  

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