Guarantee fund for new mining investment to face the possibility of environmental damage

Guarantee fund for new mining investment to face the possibility of environmental damageGovernment proposals to establish a guarantee fund for new mining investment to face the possibility of environmental damage would be a kind of “Seat environment,” to introduce the concept of solidarity in assuming the risks inherent in their activities.

The idea would be to cover unforeseen possibilities in the mine closure plan, or for any environmental liability sectors, such as those proposed by the executive director of the Peruvian Environmental Law Society (SPDA), Manuel Pulsar-Vidal.

He said the official newspaper El Peru no need to recognize that one of the basic principles in the development of human activity is solidarity. “It would be something like Traffic Accidents Compulsory Insurance (SOAT).”

“One of the major risks of driving a car is to have traffic accidents, and how to show solidarity with the victims is to provide insurance coverage. Therefore, all handlers are required to pay,” he said as an example.

He said that in the case of mining will look like this. “If we realize that an activity has a negative impact and we want to minimize, avoid or prevent them, it would be more appropriate to have the resources to reverse this situation.”

Pulsar Vidal noted that these funds should be handled with total transparency. “The constitution will go through the trust and management by an entity that cans public-private partnership,” he suggested.

He added that these resources should not go to the Treasury because it has a procedure that can be very tricky, because one purpose of the fund will be easy to implement.

“The idea is that the environmental problems of a quick solution can be implemented using the bottom,” he said.

Government intention to establish a contingency fund as an interesting concept but need more details of the proposal for a complete analysis and identify its impact on the sector, said President of the National Society of Mining, Petroleum and Energy (SNMPE), Carlos del Solar.

He stated that the best will request additional information from the authorities involved in this activity.

On the other hand, said he agreed with the message given by the President of the Republic, Lolita Humana, during the 5 the International Business Forum of China-Latin America, while emphasizing the need to stop exporting only raw materials (minerals) and passed to offer value-added products are more high.

However, he said that in the case of a large mining sector investment needed to take a big step. “We are on track to achieve, but it is a slow process.”

He stressed the need to attract new investment into the mining sector, which is required for stable and attractive conditions for investors.

Comments are closed.