Peruvian Politics No Deterrent to Century Mining

by James West
VANCOUVER
Peru’s recent lean to the left personified by the victory in first round voting of Ollanta Humala, the retired army officer with ties to Venezuelan President Hugo Chavez, is not putting a dent in any Peruvian mining companies’ plans. If anything, there is ample evidence to suggest mining investment in Peru in 2006 will increase.

Humala has rattled investors slightly by implying he was in favour of nationalizing “strategic sectors” of the economy such as mining, hydrocarbons and utilities. Most mining executives dismiss the comments as election hyperbole.

Seldom has there ever been seen such a frenzied level of acquisition activity in the Inca Kingdom, what with copper and gold prices hitting record highs.
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