The discovery of Camisea in 1986 dramatically altered Peru’s energy matrix, even if it took many years to do so. The emergence of significant natural gas reserves has lessened reliance on hydroelectricity to supply the national grid, which needed the added capacity after a decade of strong macroeconomic growth led to significantly increased demand....
After the second term of former President Alan García saw an estimated 250 social conflicts nationwide, incumbent President Ollanta Humala campaigned on promises of social inclusion programmes funded by an increase in royalties from mining activities, as well as stricter oversight of the sector. Thus far his government has taken significant strides...
Water problems made the headlines in Peru in early 2012 when local protests halted progress on a major mining project in the northern city of Cajamarca. More than 2000 locals gathered to voice their concern that the new mine, owned primarily by the US-based Newmont Mining, would pollute the water supply and negatively affect a local aquifer. While...
The exploitation of copper and gold resources has been a key element in Peru’s mineral and indeed broader economic development over the past decade. Together, copper and gold accounted for 76% of all mineral exports in 2011, bringing in revenues of $10.7bn and $10.1bn, respectively, according to the Ministry of Energy and Mines (Ministerio de...
The rationale behind recent legislation to promote investment in green electricity-generating facilities lies not just with its eco-friendly nature, but also in the ability of these resources to operate independently of the national power grid in remote towns and villages in the mountains and jungles. Indeed, roughly 33% of the rural electrification...
Deep in the heart of the Amazon jungle lies one of South America’s largest discovered reserves of natural gas, known as the Camisea. Its discovery and development are now integral elements in Peru’s economic development, with royalties from the project alone anticipated to pour more than $30bn into government coffers during its estimated 40-year...
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