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LatinNews Daily - 12 May 2021

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In brief: Mining investment up in Peru

* The Sociedad Nacional de Minería, Petróleo y Energía (SNMPE), a Peruvian extractive industry lobby, has published its monthly assessment of the sector, according to which investment in mining totalled US$372m in March, representing a 25% monthly increase compared with February. According to the SNMPE, this increase is due to increased investment by companies including Hudbay, Minsur, and Las Bambas. Business groups have expressed concern about the future of the mining sector in light of the polarising presidential election run-off between Pedro Castillo of the far-left Perú Libre party, and Keiko Fujimori of the right-wing Fuerza Popular party, to be held on 6 June. EuroCámeras Perú, an association of European chambers of commerce in Peru, has called on both candidates to ensure macroeconomic and judicial stability in the event of their victory. Both Castillo and Fujimori have called for a more equitable distribution of mining revenues at the national level and voiced concern about the industry’s water consumption.